Is new physician pay growing?

New physicians are making more post-residency than they were in 2019, according to the Medical Group Management Association’s “Provider Compensation and Productivity Data Report.”

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The report, released May 28, included 2023 data from more than 211,000 physicians and advanced practice providers. 

Here’s how median compensation for newly hired post-residency physician has changed:

Primary care physicians:

2022-23: 1.96% increase

2019-23: 12.59% increase

Surgical specialists:

2022-23: 13.24% increase

2019-23: 16.92% increase

Nonsurgical specialists:

2022-23: 3.64% decrease

2019-23: 6% increase

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