Results of a new survey conducted on 24,000 doctors revealed that doctors from different specialties have earned more for 2013 compared to the previous year.
Medscape has published the results of its survey titled Physician Compensation 2014 detailing the average compensation doctors received in various medical specialities; the income gap between genders; earnings of the accountable care organizations (ACOs); and the feedback of the doctors on the current payment practices.
Among all medical specialties, the orthopedians earned the most at an average of $413,000, followed by the cardiologists with $351,000. Those who specialize in urology and gastroenterology were the same at $348,000. Radiologists' income average at $340,000. These are the same top five from 2012 though there is a slight decrease on the earnings of the radiologists.
Primary care or earnings from consultations increased by one percent among family doctors and internists. The researchers attributed this increase on the 10 percent bonus given to them as part of the Affordable Care Act provision. However, they remained the lowest-paid among all specialties.
Income gap between male and female doctors also improved. In earlier surveys, males earn 30 percent more but the latest survey showed that it's now down to 13 percent difference on internists and 19 percent on family doctors. However, female doctors expressed more satisfaction on their salaries compared to males.
Furthermore, many doctors have become more interested in joining ACOs. The rate of those planning to join increased by 26 percent.
Meanwhile, it also seemed that more doctors prefer to assist patients who are ready to pay in cash instead of using health insurance. Cash payments increased by three percent compared to 2012. When asked if doctors are still willing to participate in the health insurance program, 53 percent said they are not sure with 43 percent saying being part of the program will only reduce their income.
Overall, salary satisfaction has remained almost the same with half of the survey participants saying they felt they were fairly compensated for 2013. Satisfaction rate improved by two percent compared to 2012.