Here are 15 things to know about income, net worth, starting salary, payer models and jobs for GI physicians.
1. On average, gastroenterologists earn $380,000 per year, according to the Medscape Gastroenterologist Compensation Report 2016.
2. Gastroenterologist compensation was up 3 percent from 2015, according to the 2016 Medscape compensation report.
3. The northwest region of the United States is the highest-paying for GI physicians, according to the Medscape report.
• Northwest — $475,000
• West — $410,000
• Great Lakes — $407,000
• Southwest — $406,000
• Southeast — $378,000
• Northeast — $378,000
• North Central — $339,000
• South Central — $318,000
4. According to Jackson & Coker's 2015 Physician Salary Calculator, there are 15,575 gastroenterologists in the United States.
The average and hourly compensation for full-time gastroenterologists is:
Annual
• National average compensation: $516,785
• Average benefits: $103,357
• Total average compensation: $620,142
• National average gross revenue per provider: $1.81 million.
Hourly
• National average compensation: $248.45
• Average benefits: $49.69
• Total average compensation: $298.15
• National average gross revenue per provider: $870.71
5. The starting salary for GI physicians is $337,500, data from the MGMA 2015 Physician Placement Starting Salary Report reveals.
6. Gastroenterologist net worth in 2016:
• Under $500,000: 28 percent
• $500,000 to $999,999: 15 percent
• $1 million to $1.9 million: 20 percent
• $2 million to $5 million: 21 percent
• Over $5 million: 16 percent
7. Gender and practice situation affect physician pay, noted the Medscape report. Male GI physicians who are self-employed earn $419,000 annually whereas self-employed female GI physicians earn $434,000. On the other hand, employed male gastroenterologists make, on average, $321,000 per year, as compared to the $292,000 that employed female gastroenterologists earn.
8. Increasingly, gastroenterologists are making the decision to join accountable care organizations — 34 percent report they are currently participating and 9 percent report planning to participate in the coming year. Four percent of GI physicians are in cash-only practices and 3 percent are in a concierge practice, according to the Medscape report.
9. A gastroenterologist's yearly salary ranges from an average of $90,720 to $590,000, according to a Salary Voice report.
• A U.S. gastroenterologist with two years of experience earned a salary of around $267,000 per year
• A U.S. gastroenterologist with four years of experience earned approximately $348,010 per year
• In Australia, gastroenterologists were paid an annual average income of AUD$120,000
• In Canada, the average yearly salary for a gastroenterologist was $208,800
• In the United Kingdom, salary varied based on age and experience of the gastroenterologist — from £56,973 for a physician in their 20s to around £88,118 for a physician in their 40s and 50s
10. Gastroenterologists receive up to approximately $79,189 in bonuses every year and earn $32,500 in yearly profit-sharing, data from PayScale.com shows.
11. Payscale.com also shows that entry-level pay for GI physicians is around $293,000 per year while annual salary for gastroenterologists in the middle of their careers (five to 10 years) is approximately $311,000.
12. Experienced GI physicians (10 to 20 years) typically earn $303,000 annually and gastroenterologists late in their career (more than 20 years) make around $300,000 per year, according to Payscale.com.
13. A Health eCareers Network Gastroenterology Fact Sheet shows that in 2015, there were 1,347 gastroenterologist jobs posted with 667 employers competing to attract GI physicians.
14. Last year, the top five states seeking gastroenterologists were California, Florida, New York, Pennsylvania and Washington, according to Health eCareers.
15. The majority of jobs openings (94 percent) posted on Health eCareers were focused on general gastroenterology. Also, 47.5 percent of the postings were for jobs at hospitals or health systems.