18 statistics on young physicians — Compensation, practice situation & more

Medscape collected an array of statistics on young physician compensation in its Young Physician Compensation Report 2020.

Medscape surveyed 17,461 physicians across 30-plus specialties.

Here are 18 statistics on physicians under 40 years old:

1. Primary care physicians earned $198,000, while specialty care physicians earned $302,000.

2. Physicians received an annual incentive bonus of $19,000 and an average base salary of $237,000.

3. There were more male physicians (56 percent) than female physicians (42 percent).

4. Younger physicians were more likely to be employed (82 percent) than self-employed (14 percent).

5. Physician compensation by practice space:

  • Office-based single-specialty group practice: $289,000
  • Office-based multispecialty group practice: $274,000
  • Hospital: $279,000
  • Healthcare organization: $257,000
  • Outpatient clinic: $199,000
  • Academic (nonhospital), research, military, government: $259,000

6. Physicians participating in the Merit-based Incentive Payment System and alternative payment models:

  • MIPS: 42 percent
  • APMs: 12 percent

7. More young physicians would choose medicine again (76 percent) than not (24 percent).

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