Neurosurgeons top the salary list, telemedicine is one of the fastest-growing sectors and primary care physicians are the most in-demand, according to a new study.
The research study on the 2019 labor market for doctors showed a 5% increase in job opportunities for physicians in the U.S. since 2018, according to the Doximity report.
Who is making the most money? Heres the list of the highest-paid specialties based on the average salary nationwide:
The list shows a mismatch, however, between the highest-paid specialties and the most in-demand specialties, said Amit Phull, M.D., vice president of strategy and insights at Doximity, a network for medical professionals, and Christopher Whaley, Ph.D., lead author of the report and assistant adjunct professor at the University of California, Berkeley School of Public Health in an interview with FierceHealthcare.
The healthcare sector remains in flux as policy, regulation, technology and trends shape the market. FierceHealthcare subscribers rely on our suite of newsletters as their must-read source for the latest news, analysis and data impacting their world. Sign up today to get healthcare news and updates delivered to your inbox and read on the go.
RELATED: Specialist physicians in high demand, and their salaries reflect it
Unlike other industry environments, theres not the best match between the highest-paid specialties and the most in-demand specialties, said Phull. For instance, theres a shortage in some of the lesser-compensated specialties, such as primary care. One way to try to balance the supply and demand problem is to increase salaries for primary care doctors, Whaley said.
The specialties in greatest demand across the U.S. are in family medicine and internal medicine, followed by emergency medicine, psychiatryand obstetricsand gynecology.
But the healthcare industry may be starting to up the salaries for some specialties that are in short supply.
When looking at the growth in compensation by specialty, the study found that pediatrics experienced the highest pay increase in 2019. Pediatricians saw a 9% increase in salaries, followed by preventive medicine with an 8% increase. Some of the pediatric specialties also made the top 10 list for compensation growth, with salaries for pediatric hematology and oncology and pediatric cardiology increasing 7% and pediatric gastroenterology increasing 5%.
Many patients have had a hard time finding a pediatrician depending on the market where they live, so the increase in salaries is likely a reaction to that demand, Whaley said.
The report detailed growth in the physician marketplace by geographic location, medical specialtyand compensation based on an analysis of approximately 27,000 Doximity clinical job postings in 2018 and 2019 and a network-wide compensation survey of about 70,000 physicians.
As well as growth in the traditional job market, the 2019 report found telemedicine is one of the fastest-growing sectors of the market. In just three years, from 2015 to 2018, the number of physicians who self-reported telemedicine as a skill doubled, increasing 20% year-over-year.
Internal medicine and psychiatry were the telemedicine specialties most in-demand, followed by radiology, family medicineand pediatrics.
The growth in telemedicine coincides with an increasing number of states that have passed laws encouraging insurers to reimburse for telehealth services, which can potentially help relieve the problem of patients having access to doctors, said Phull.
The need for doctors is spread widely across the country, but demand is greatest in some areas. El Paso, Texasand Miami, Florida had the greatest need for doctors, the study found.
The report also ranked the cities where physicians are most highly compensated. Milwaukee, New Orleansand Riverside, California topped the list.
While the 5% uptick in demand for physicians in 2019 bodes well for doctors, it does raise worries about the predicted doctor shortage.
The Doximity data showed that the demand for physicians has been increasing for the past three years. At the same time, patient demand increases and physician shortages worsen, the report said.
While the job market is strong for physicians, this continued growth points to a serious concern: the potential impact of a physician shortage on patients, said Phull, As access to care increases in the U.S., it is essential that healthcare stakeholders consider this increasing demand for doctors and how its cascading through the system, especially in smaller cities and rural areas.
Studies indicate there will be ashortageof120,000 physicians by 2032, according to the Association of American Medical Colleges.
More here:
- Pediatric Cardiology - Pediatrics - University of Rochester Medical Center - April 10th, 2018 [April 10th, 2018]
- Division of Pediatric Cardiology UT Southwestern, Dallas ... - May 7th, 2018 [May 7th, 2018]
- Pediatric and Congenital Cardiology - Massachusetts ... - May 14th, 2018 [May 14th, 2018]
- Pediatric Cardiology Services | Miami | South Florida - June 11th, 2018 [June 11th, 2018]
- RWJMG | Division of Pediatric Cardiology - July 2nd, 2018 [July 2nd, 2018]
- Locations and Directions | Pediatric Cardiology Consultants - July 5th, 2018 [July 5th, 2018]
- Heart Center | MUSC Children's Health | Charleston, SC - July 15th, 2018 [July 15th, 2018]
- Pediatric Cardiologist: Job Description & Career Requirements - July 30th, 2018 [July 30th, 2018]
- Pediatric Cardiology Associates | MEDNAX - August 6th, 2018 [August 6th, 2018]
- Cardiology - Wikipedia - October 15th, 2018 [October 15th, 2018]
- UnityPoint Clinic Pediatric Cardiolgy - November 5th, 2018 [November 5th, 2018]
- Pediatric Cardiology - Pediatrics - University of ... - November 7th, 2018 [November 7th, 2018]
- Pediatric Cardiology | Weill Cornell Medicine - November 7th, 2018 [November 7th, 2018]
- Cardiology | Department of Pediatrics | Columbia ... - November 7th, 2018 [November 7th, 2018]
- Pediatric Cardiology - UofL Physicians - November 18th, 2018 [November 18th, 2018]
- PCA - Pediatric Cardiology Associates - November 30th, 2018 [November 30th, 2018]
- Capital District Pediatric Cardiology Associates - December 9th, 2018 [December 9th, 2018]
- Pediatric Cardiology and Cardiothoracic Surgery (Heart Center) - December 23rd, 2018 [December 23rd, 2018]
- Pediatric Cardiology | Child Cardiology in Louisville ... - December 25th, 2018 [December 25th, 2018]
- Pediatric Cardiology - GHS Childrens - January 28th, 2019 [January 28th, 2019]
- Pediatric Cardiology in New Jersey | Pediatric Heart ... - February 26th, 2019 [February 26th, 2019]
- Overview - Pediatric Cardiology - Mayo Clinic - March 10th, 2019 [March 10th, 2019]
- Pediatric Cardiology | MUSC | Charleston, SC - March 13th, 2019 [March 13th, 2019]
- Pediatric Cardiology Fellowship | Pediatrics at Vanderbilt - March 14th, 2019 [March 14th, 2019]
- Pediatric Cardiology Conferences 2020 | Pediatric Congress ... - March 27th, 2019 [March 27th, 2019]
- Pediatric Cardiology - childrensaterlanger.org - April 4th, 2019 [April 4th, 2019]
- Cardiology | Department of Pediatrics - April 4th, 2019 [April 4th, 2019]
- Pediatric Cardiology - All Volumes & Issues - Springer - April 4th, 2019 [April 4th, 2019]
- Pediatric Cardiology NJ | Pediatric Cardiology New Jersey - April 27th, 2019 [April 27th, 2019]
- Pediatric Cardiology Certification | The American Board of ... - May 12th, 2019 [May 12th, 2019]
- Pediatric Cardiology Center of Oregon - May 12th, 2019 [May 12th, 2019]
- Confirm Rx ICM allies with SharpSense technology and syncs to a smartphone for a superior performance - Cardiac Rhythm News - September 30th, 2019 [September 30th, 2019]
- LI 'garbage man' does 'heart surgery on the side' - Newsday - September 30th, 2019 [September 30th, 2019]
- Five Atlantic Health System Team Members Lauded by NJAHA - Patch.com - September 30th, 2019 [September 30th, 2019]
- Doctors of Distinction: Saluting Westchester's top physicians - Westfair Online - September 30th, 2019 [September 30th, 2019]
- Biology at the Speed of Life - Technology Networks - September 30th, 2019 [September 30th, 2019]
- New Study Discovers the Three-Dimensional Structure of the Genome Replication Machine - Newswise - October 6th, 2019 [October 6th, 2019]
- Universal Pediatric Interventional Cardiology Devices Market Forecast 2019 Catheters, Guidewires, Balloons, Balloon inflation devices, Stents - The... - October 6th, 2019 [October 6th, 2019]
- Pediatric Interventional Cardiology Devices Market Growing Demand and Supply 2019 to 2025 - Weekly Spy - October 6th, 2019 [October 6th, 2019]
- On The Move - Times Union - October 6th, 2019 [October 6th, 2019]
- Pediatric Medical Devices Market Opportunity will Rise to US$ 41000 Mn by 2026 - Space Market Research - October 7th, 2019 [October 7th, 2019]
- Pediatric Interventional Cardiology Market: Industry Development Scenario and Forecast to 2025 - Space Market Research - October 7th, 2019 [October 7th, 2019]
- Global Pediatric Interventional Cardiology Market - Segmented By Type, Application, Technology and Geography - Growth, Trends & Forecast (2019 -... - October 11th, 2019 [October 11th, 2019]
- Want To Know What Equipment Your Pediatricians Use? Here It Is - Healthcare Tech Outlook - October 11th, 2019 [October 11th, 2019]
- Israeli organisation to set up cardiology centre in Rwanda - The New Times - October 11th, 2019 [October 11th, 2019]
- Global Pediatric Interventional Cardiology Market Industry Analysis and Forecast (2018-2026) - Weekly Spy - October 11th, 2019 [October 11th, 2019]
- Media Fall Prey to Researcher Warnings on Men's Drinking Before Conception - NewsBusters - October 11th, 2019 [October 11th, 2019]
- Cleveland Clinics annual Medical Innovation Summit to focus on caring for every life - cleveland.com - October 18th, 2019 [October 18th, 2019]
- Children's hospital to open 4-story addition in November - Newsday - October 18th, 2019 [October 18th, 2019]
- Parent Project Muscular Dystrophy Announces Arkansas Children's Hospital as Their 28th Certified Duchenne Care Center - P&T Community - October 18th, 2019 [October 18th, 2019]
- Top heart surgeon returns to All Childrens, 3 years after being pushed out - Tampa Bay Times - October 18th, 2019 [October 18th, 2019]
- Innovative research on Pediatrics Healthcare Market Outlook to 2019 -2026 Top Companies including GlaxoSmithKline, AstraZeneca, Pfizer, Merck,... - November 1st, 2019 [November 1st, 2019]
- MEDNAX Expands Presence in Florida through Affiliation with Leading Pediatric Plastic Surgery Practice - Business Wire - November 1st, 2019 [November 1st, 2019]
- Apple hires another prominent cardiologist as it makes heart health a big area of focus - CNBC - November 1st, 2019 [November 1st, 2019]
- Ovid Therapeutics Announces Senior Management Promotions in Preparation for Multiple Data Readouts Expected in 2020 - GlobeNewswire - November 1st, 2019 [November 1st, 2019]
- First Large-Scale Registry to Evaluate Real-World Lipid Management and Effectiveness of PCSK9 Inhibitors Announced - Cath Lab Digest - November 15th, 2019 [November 15th, 2019]
- Ramesh Hospitals Vijayawada sets Guinness World Record for the largest gathering of cardiac surgery patients at one place - Yahoo India News - November 15th, 2019 [November 15th, 2019]
- Market Live: Global Pediatric Interventional Cardiology Devices Market Can Deliver up to High CAGR over the next Few Years - Justnewsindustry - November 21st, 2019 [November 21st, 2019]
- You've got to have heart: Inside UNC Health Care's fight to save a baby with rare transplant - WRAL Tech Wire - November 21st, 2019 [November 21st, 2019]
- Pediatric Interventional Cardiology Devices Market to Record Ascending Growth by 2015 2021 - Downey Magazine - December 3rd, 2019 [December 3rd, 2019]
- Northwest Medical Center Gets Dedicated State-of-the-Art Pediatric ER - Coral Springs Talk - December 3rd, 2019 [December 3rd, 2019]
- New research reveals how antiretroviral drugs may damage the hearts of infants exposed to HIV but uninfected - UB News Center - December 3rd, 2019 [December 3rd, 2019]
- FAQ: An Update on the St. Christopher's Hospital Acquisition - DrexelNow - Drexel Now - December 16th, 2019 [December 16th, 2019]
- Which Of The Top AI Events Is Best Suited For Your Profession? - Forbes - December 16th, 2019 [December 16th, 2019]
- State-by-state breakdown of the 183 new ASCs opened or announced in 2019 - Becker's ASC Review - January 2nd, 2020 [January 2nd, 2020]
- The news that impacted our communities in 2019 | New Today - Uniontown Herald Standard - January 2nd, 2020 [January 2nd, 2020]
- Father and son both healthy after heart defects at birth - KFSN-TV - January 2nd, 2020 [January 2nd, 2020]
- YOUR HEALTH: He got his dads heart. That wasnt necessarily a good thing - WQAD Moline - January 2nd, 2020 [January 2nd, 2020]
- MEDNAX (NYSE:MD) Rating Lowered to Neutral at Citigroup - Riverton Roll - January 3rd, 2020 [January 3rd, 2020]
- MEDNAX (NYSE:MD) Downgraded to Neutral at Citigroup - Riverton Roll - January 10th, 2020 [January 10th, 2020]
- January Is Thyroid Awareness Month - Newswise - January 10th, 2020 [January 10th, 2020]
- The new year rings in 110 new Drexel Med employees - Drexel University The Triangle Online - January 10th, 2020 [January 10th, 2020]
- Could 2020 be the year of women in cardiology? - Cardiovascular Business - January 10th, 2020 [January 10th, 2020]
- New product developments and trends of Pediatric Interventional Cardiology Market during 2019-2025 - Fusion Science Academy - January 18th, 2020 [January 18th, 2020]
- MEDNAX (NYSE:MD) Lowered to Neutral at Citigroup - Riverton Roll - January 18th, 2020 [January 18th, 2020]
- Major Heart Organizations Now Led by Women - Medscape - January 18th, 2020 [January 18th, 2020]
- Cleveland Clinic Names New Chair of Hillcrest Hospitals Board of Trustees - Health Essentials from Cleveland Clinic - January 18th, 2020 [January 18th, 2020]
- MEDNAX Inc to Post Q4 2019 Earnings of $0.85 Per Share, Jefferies Financial Group Forecasts (NYSE:MD) - Riverton Roll - February 1st, 2020 [February 1st, 2020]
- Lower Stress, Stay Optimistic, and Avoid Heart Attacks- Mount Sinai Health System - Yahoo Finance - February 1st, 2020 [February 1st, 2020]
- Lower Stress, Stay Optimistic, and Avoid Heart Attacks - Cath Lab Digest - February 1st, 2020 [February 1st, 2020]