Compensation for most physicians has remained steady, despite financial effects of the COVID-19 pandemic such as lower patient volumes, caps on elective procedures and increased medical practice closures, according to data released May 26 from the Medical Group Management Association.
Primary care physician median total compensation increased 2.6 percent from 2019 to 2020, and compensation for most physician specialties remained flat or saw a moderate increase.
Surgical specialist median total compensation decreased 0.89 percent year over year, and nonsurgical specialist median total compensation decreased 1.29 percent.
Here are the six specialties that experienced the biggest increase in median total compensation in 2020:
1. Pediatrics (general): 6 percent increase in median total compensation
2. Family medicine (without OB): 3.94 percent increase
3. Internal medicine (general): 2.73 percent increase
4. Cardiology (invasive): 2.61 percent increase
5. Orthopedic surgery (general): 1.67 percent increase
6. Neurology: 1.44 percent increase
Data is based on a voluntary survey of more than 185,000 physicians and nonphysician providers across more than 6,700 physician-owned and hospital-owned organizations.