Here are 10 numbers showing signs of positive changes for physicians and the healthcare industry:
- Four specialties saw an increase in pretax income between 2022 and 2023:
- Internal medicine: $270,000, up from $253,000 in 2022
- Family medicine: $265,000, up from $245,000 in 2022
- Pediatrics: $235,000, up from $216,500 in 2022
- OB-GYN: $290,000, up from 285,500 in 2022
- Physicians owners on average earn more than nonowners, according to Medical Economics' 2024 "Physician Report," which shows that physician owners earned $295,000 in 2023 and nonowners earned $283,000.
- ASC volume is expected to increase by 16% by 2032, with an 8% growth in volume by 2027, according to an August report from real estate services company Savills.
- Healthcare added 55,000 jobs in July, accounting for 48% of all new employment in the U.S. that month, according to data from the Bureau of Labor Statistics.
- Healthcare bankruptcies hit a five-year high in 2023, which saw 12 hospitals and health systems file for bankruptcy, but have slowed over the last three quarters, according to a report published Aug. 14 by Gibbins Advisors, a healthcare restructuring consulting firm.
- About 60% of physicians reported a net worth of $1 million in 2024, up just 1% from 2023.
- Even with medical school loans taken into account, six in 10 physicians have a net worth that exceeds that of the average American family.