Healthcare as a whole is constantly evolving and shifting — and compensation is no different. Between federal policy updates, workforce changes and shifting care methods, pay among providers is always in flux.
Here are five of the latest numbers on physician compensation:
$723,421: The average annual salary among orthopedic surgeons in the last year — a 5.5% increase year over year, according to an American Medical Group Association survey released July 12. Orthopedists were the highest-paid specialists in the last year, according to the report.
2.8%: The conversion factor reduction proposed by CMS for its physician fee schedule for 2025. This would set the proposed physician fee schedule conversion factor for 2025 at $32.36, down 3.34% from $33.29 in 2024.
4.3%: The median increase in overall physician net collections from 2023 to 2024, a smaller jump compared to that of 2022 to 2023, when it increased by 5.3%, according to the AMGA survey.
5.5%: The average increase in pay from 2023 to 2024 among surgical specialists.
$455,282: The average annual pay among colon and rectal surgery specialists in 2023, making it one of the lowest-paid ASC specialties, according to Doximity's "Physician Compensation Report 2024," published May 23.