Dr. Stephen Burkhart earned $24M from device companies — Ranked 3rd highest paid US physician: 8 insights

Practice Management

San Antonio orthopedic surgeon Stephen Burkhart, MD, received more than $24 million from medical device companies between August 2013 and the end of 2014, according to Express News.

Here are eight insights:

 

1. President of The San Antonio Orthopaedic Group, Dr. Burkhart is renowned for his expertise in shoulder arthroscopy. Dr. Burkhart was one of three physicians performing shoulder arthroscopies in 1983.

 

2. In 2014, Dr. Burkhart collected more than $16.6 million in payments and more than $7.3 million over a five-month period in 2013. Of the $24 million, almost all of the payments Dr. Burkhart received were from royalties for shoulder arthroscopic products he devised. He does not get compensated for any products used on any of his patients or any patient one of his colleagues treats at The San Antonio Orthopaedic Group. He also does not receive royalties from products used on patients treated at Baptist Health System, where he also provides care.

 

3. CMS data indicates he was the third-highest paid physician in the United States in the aforementioned time frame.

 

4.  Dr. Burkhart serves as a consultant reviewer and editorial board member for Journal of Arthroscopic and Related Research. He also is a consultant reviewer for Journal of Shoulder and Elbow Surgery as well as Journal of Bone and Joint Surgery.

 

5. He is a member of Arthroscopy Association of North America's board of directors, and has also served as their president, first vice president and second vice president. Dr. Burkhart serves of the Journal of Arthroscopic and Related Surgery's board of trustees. Since 2003, he has served on the International Society for Arthroscopy, Knee Surgery and Orthopaedic Sports Medicine's board of directors.

 

6. Dr. Burkhart earned his medical degree from University of Texas Medical Branch in Galveston. Following medical school, he completed his orthopedic surgery residency at Rochester, Minn.-based Mayo Clinic. He completed his sports medicine fellowship at the University of Oregon in Eugene.

 

7. Following Dr. Burkhart, Michael Wirth, MD, was paid $1.6 million during the 17-month period and Charles Rockwood, MD, was paid more than $1.5 million. Both are orthopedic surgeons.

 

8. From August 2013 through the end of 2014, providers across the nation made $9.92 billion from medical device companies.

 

More articles on practice management:
Erie County Medical Center opens $1.3M outpatient orthopedic center: 3 key notes
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AAOS President Dr. Gerald Williams on the orthopedics industry — Where it stands today & where it is headed

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