Do the benefits outweigh the growing pressures of practicing in the gastroenterology field? Here are 19 things to know about GI compensation and satisfaction in 2014, according to a Medscape report.
Income stability
• Gastroenterologist salary rose 1.8 percent between 2013 and 2014, from $342,000 to $348,000.
• Of the 25 physician groups surveyed in Medcape's 2014 Physician Compensation report, gastroenterologists earned the third highest mean salary.
Compensation by gender
• On average, male gastroenterologists earned 5.7 percent more than female gastroenterologists in 2014, $350,000 in comparison to $331,000.
• In 2013, male gastroenterologists earned 13 percent more than female gastroenterologists.
• In 2012, male gastroenterologists earned 27 percent more than female gastroenterologists.
Compensation by location
• Gastroenterologists in Illinois, Indiana, Ohio, Michigan, Minnesota and Wisconsin earned an average of $382,000 in 2014, up from $344,000 in 2013.
• Arizona, Colorado, Nevada, New Mexico and Utah were the second highest-earning states with an average income of $380,000.
• Gastroenterologists in Delaware, Maryland, New Jersey, North Carolina, South Carolina, Pennsylvania, Virginia and West Virginia were the lowest earners with an average salary of $319,000.
Compensation by setting
• Self-employed gastroenterologists earned more than employed gastroenterologists, $395,000 compared to $300,000.
• Office-based multispecialty group gastroenterologists earned the most with an average salary of $404,000, followed closely by office-based single-specialty group gastroenterologists with an average salary of $395,000.
• Outpatient clinic GI physicians earned an average of $366,000.
• Hospital-based gastroenterologists earned an average of $266,000.
• GI physicians working for the military or government were the lowest earners with an average salary of $239,000.
What makes practicing medicine worth it?
• Being good at the job: 42 percent of gastroenterologists
• Relationships with patients: 31 percent of gastroenterologists
• Making money at an enjoyable job: 9 percent of gastroenterologists
• Making the world a better place: 8 percent gastroenterologists
• Pride as a physician: 7 percent of gastroenterologists
• Nothing is rewarding: 2 percent of gastroenterologists
More articles on gastroenterology:
Breaking down the cost of Hepatitis C treatment: 7 things to know
20 things for gastroenterologists to know about Medicare reimbursement
4 gastroenterologists on building productive endoscopy center-payer partnerships
Income stability
• Gastroenterologist salary rose 1.8 percent between 2013 and 2014, from $342,000 to $348,000.
• Of the 25 physician groups surveyed in Medcape's 2014 Physician Compensation report, gastroenterologists earned the third highest mean salary.
Compensation by gender
• On average, male gastroenterologists earned 5.7 percent more than female gastroenterologists in 2014, $350,000 in comparison to $331,000.
• In 2013, male gastroenterologists earned 13 percent more than female gastroenterologists.
• In 2012, male gastroenterologists earned 27 percent more than female gastroenterologists.
Compensation by location
• Gastroenterologists in Illinois, Indiana, Ohio, Michigan, Minnesota and Wisconsin earned an average of $382,000 in 2014, up from $344,000 in 2013.
• Arizona, Colorado, Nevada, New Mexico and Utah were the second highest-earning states with an average income of $380,000.
• Gastroenterologists in Delaware, Maryland, New Jersey, North Carolina, South Carolina, Pennsylvania, Virginia and West Virginia were the lowest earners with an average salary of $319,000.
Compensation by setting
• Self-employed gastroenterologists earned more than employed gastroenterologists, $395,000 compared to $300,000.
• Office-based multispecialty group gastroenterologists earned the most with an average salary of $404,000, followed closely by office-based single-specialty group gastroenterologists with an average salary of $395,000.
• Outpatient clinic GI physicians earned an average of $366,000.
• Hospital-based gastroenterologists earned an average of $266,000.
• GI physicians working for the military or government were the lowest earners with an average salary of $239,000.
What makes practicing medicine worth it?
• Being good at the job: 42 percent of gastroenterologists
• Relationships with patients: 31 percent of gastroenterologists
• Making money at an enjoyable job: 9 percent of gastroenterologists
• Making the world a better place: 8 percent gastroenterologists
• Pride as a physician: 7 percent of gastroenterologists
• Nothing is rewarding: 2 percent of gastroenterologists
More articles on gastroenterology:
Breaking down the cost of Hepatitis C treatment: 7 things to know
20 things for gastroenterologists to know about Medicare reimbursement
4 gastroenterologists on building productive endoscopy center-payer partnerships