Orthopedic surgeons generate more net revenue for hospitals than gastroenterologists, noninvasive cardiologists, internal medicine physicians and oncologists, on average, according to Merritt Hawkins' 2019 Physician Inpatient/Outpatient Revenue Survey.
Merritt Hawkins emailed its survey to 3,000 hospital CFOs and other financial managers across the U.S. from October 2018 to December 2018. Hospital CFOs and financial managers reported the combined net inpatient and outpatient revenue generated by a full-time equivalent physician employed by the hospital or in independent practice. The survey was completed by 62 respondents, representing 93 hospitals.
More orthopedists are satisfied with their pay than in past years, according to Medscape's 2019 orthopedist compensation report, which provides details on salary, hours worked and job challenges.
Medscape surveyed about 20,000 physicians to compile its report.
Seven things to know:
1. Orthopedic surgeons generate an average $3,286,764 in revenue for hospitals, up from the $2,746,605 reported in the 2016 survey.
2. Invasive cardiologists, cardiovascular surgeons and neurosurgeons were the three specialty physicians who generate more revenue than orthopedic surgeons.
3. On average, physicians generate $2,378,727 for hospitals, an increase of 52 percent from the 2016 survey.
4. The average orthopedist salary is $482,000.
5. Self-employed orthopedists ($505,000) earn more than employed physicians ($459,000).
6. Fifty-two percent of orthopedists feel they're fairly compensated, an increase from last year's report, when 45 percent of orthopedists reported satisfaction with their pay.
7. Thirty-nine percent of orthopedists work in an office-based single-specialty group practice.