15 insights on GI net worth, debt & compensation

Listen
Text
  • Small
  • Medium
  • Large

Fifty percent of gastroenterologists who took financial hits because of the pandemic expect their income to return to normal in this year, according to Medscape.

Here are 15 insights on gastroenterologist debt, net worth and compensation, drawn from Medscape's "Physician Debt and Net Worth Report 2020," "Physician Compensation Report 2020" and Merritt Hawkins' Physician Revenue Calculator:

1. Four percent of gastroenterologists have a net worth over $5 million. 

2. One percent of gastroenterologists have a net worth under $500,000. 

3. Seventeen percent of gastroenterologists are still paying off their student loans. 

4. Eighteen percent of gastroenterologists have homes larger than 5,000 square feet. 

5. Among physicians overall, 10 percent have a net worth of more than $5 million, and 28 percent have a net worth of less than $500,000.

6. Number of gastroenterologists providing patient care: 12,824

7. Percentage of board-certified gastroenterologists: 95

8. Percentage of gastroenterologists ages 55 and older: 51

9. Average gastroenterologist revenue: $1,422,677

10. The average annual pay for gastroenterologists is $406,000, down from $419,000 in 2020. 

11. In 2020, 96 percent of gastroenterologists reported a drop in income because of factors associated with the COVID-19 pandemic. Thirteen percent said factors unrelated to COVID-19 led to a drop in income.

12. Gastroenterologists earn average incentive bonuses of $60,000, seventh behind orthopedic surgeons, who earn $116,000 on average, according to Medscape

13. Average gastroenterologist compensation over the last five years:

2019-20: $419,000

2018-19: $417,000

2017-18: $408,000

2016-17: $391,000

2015-16: $380,000

14. Fifty percent of gastroenterologists who took financial hits because of the pandemic expect their income to return to normal in this year; 34 percent said it will take two to three years. Fourteen percent said they expect to never return to pre-pandemic income levels.

15. On average, employed gastroenterologists ($405,000) earn about the same as their self-employed ($408,000) counterparts.

Copyright © 2021 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Webinars

Featured Whitepapers

Featured Podcast