The report details results of an online survey taken by 17,903 physicians from more than 29 specialties. Survey data was collected between Oct. 6, 2020, and Feb. 11, 2021.
Five key findings:
- The average income earned by cardiologists in 2020 increased from $438,000 in 2019 to $459,000.
- Self-employed cardiologists earned on average $477,000 last year, while employed cardiologists earned on average $450,000.
- Forty-six percent of cardiologists reported a decline in compensation.
- Ninety-two percent of survey respondents attributed the income decline to effects of the COVID-19 pandemic, including job loss, reduction in hours and a reduction in patient volume.
- Forty-eight percent of respondents said they expect income to return to pre-COVID levels within the next year. Thirty-eight percent expect income levels to return to pre-COVID levels within the next two to three years.
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