Sixteen percent of physicians have deferred or refinanced loans to reduce their big expenses, according to Medscape's 2022 "Physician Wealth & Debt Report."
Medscape surveyed more than 13,000 physicians in more than 29 specialties about their compensation.
Here's how surveyed physicians reduced their big expenses:
- Deferred or refinanced loans: 16 percent
- Moved to a different home: 6 percent
- Changed to a different car: 5 percent
- Moved my child(ren) to a different school: 2 percent
- Other: 7 percent
- I have not done anything major to reduce major expenses: 70 percent