Which doctors work hardest? Get paid the most?

Did you know that…

Orthopedic surgeons rank at the very top of the pay scale with an average income of $323,000 a year.

At the other end, family practice physicians and psychiatrists vie for the lowest average income with the family practice physicians earning an average of $132,000 a year and psychiatrists $124,000.

How hard do doctors work?

No way to know that, but if we measure doctor input by the number of hours per week, we learn that physicians specializing in obstetrics/gynecology, anesthesiology, general surgery, or urology all work more than 60 hours every week.

Dermatologists and pathologists work the fewest hours on the list, just 45.5 a week, but specialists in emergency medicine (46.0 hours/week) and ophthalmology (47.0) hours put in only slightly more hours a week.

Now put them together. Which physician specialists yield the highest dollar amount per hour worked?

No surprise. Orthopedic surgery earns an average of $107.10 per hour, while family practice physicians earn only $48.35 per hour.

Most interesting, perhaps, is the average:

Average $$ per year: $208,000

Average $$ per hour: $74.21

Average hours worked per week: 53.9

These numbers come to us from the American Medical Association.

Remember that these hours and dollar amounts are for fees allocated to individual physicians. The cost of running a medical clinic includes not only physician revenues, but also clinic costs and other expenses of practicing medicine in calculating the profit margin.

Brought to you compliments of Griffith Publishing

Published in: on November 30, 2008 at 2:15 pm  Comments (2)  
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2 CommentsLeave a comment

  1. I know if you read David Zahalauk’s book, The Ultimate Practice Building Book, you will learn how to make more money working less! He says, “Every year countless physician practices fail, needlessly. Physicians are stereotypically bad business people – but it’s not their fault.”

  2. It’s a great book to read, I just gave it to my brother in law who is a physician and he really liked it!

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