In recent years, there has been an increasing shift in physicians opting for employment over being self-employed, according to Medscape's 2018 Physician Compensation Report.
Medscape surveyed more than 20,000 physicians across more than 29 specialties on compensation. Here are five key findings on the differences between self-employed and employed physicians.
1. Of survey respondents, 26 percent were self-employed, and 69 percent were employed. More male physicians reported to be self-employed.
2. While there are more physicians employed by hospitals and health systems, self-employed physicians continue to earn more in compensation.
3. The average self-employed physicians' salary is around $350,000 while employed physicians earn just under $300,000.
4. Self-employed physicians typically have earned higher annual salaries. In 2015, the average self-employed physician salary was just above $300,000 while employed physicians earned close to $250,000.
5. Self-employed physicians may begin their careers earning less than employed physicians, however, after establishing themselves are able to profit from ancillary services.