Physician salary and demand --- Key trends to know

Family medicine physicians are still one of the most in-demand medical specialties, according to the Merritt Hawkins 2019 review of physician and advanced practitioner recruiting incentives.

Merritt Hawkins, a national healthcare consulting and recruiting firm, included a sample of 3,131 permanent physician and advanced practitioner search assignments the company conducted for its clients from April of last year to the end of this March in its review.

However, many states are facing a physician shortage, which could boost salary. In a separate 2019 survey of physician recruitment incentives, Merritt Hawkins points out that there's currently an aging physician workforce composed of those nearing retirement, with some states having one third of their physicians over 60 years old. With many physicians retiring at once, a shortage may occur.

The top 10 most sought-after medical specialists and their average base salary:

1. Family medicine physicians: $239,000
2. Psychiatrists: $273,000
3. OB-GYNs: $318,000
4. Internists: $264,000
5. Radiologists: $387,000
6. Hospitalists: $268,000
7. Nurse practitioners: $124,000
8. Neurologists: $317,000
9. Gastroenterologists: $495,000
10. Pediatricians: $242,000

The five states most likely to face a physician shortage:

1. Wyoming
2. Montana
3. Mississippi
4. Oklahoma
5. Arkansas

More articles on benchmarking:
How did independent physician practice profits change in the past year?
Which states pay physicians the most?
5 notes on physician salary, bonuses & other recruitment incentives

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