Inflation outpacing growth in physician compensation, Doximity analysis finds

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Average pay for physicians increased by 3.8 percent in 2021, but the inflation rate measured by the Consumer Price Index was 6.2 percent, according to Doximity's "2021 Physician Compensation Report" published in December.

This means when compared with inflation, physicians on average saw a decline in real income in 2021.

However, the growth in average physician pay in 2021 was higher than the growth in 2020, which was 1.5 percent. 

The increase from 2020 could be a catch-up from last year's flat rate, a tight labor market or a reflection of rising inflation rates in 2021, according to the report.

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