Six notes:
1. Millennial orthopedic surgeons — defined as those under age 40 — are some of the unhappiest specialists with their compensation rates. Just 41% of millennial orthopedists are happy with their compensation, according to Medscape.
2. On average, millennial specialists earn $357,000 annually.
3. Thirty-five percent of the orthopedic workforce was in private group practice and 15% were in solo private practice, while just 15% were employed by hospitals or medical centers, according to a 2016 report from the American Academy of Orthopaedic Surgeons.
4. Orthopedic surgeons have a mean annual salary of $378,250, compared to $343,990 for all other surgeons.
5. According to Physicians Thrive, orthopedic surgeons in physician-owned practices make on average $487,419 per year.
6. The median orthopedic surgeon pay jumped 5.5% in the last year, according to an AMGA report. Along with the pay increase, orthopedic surgeons were also more productive last year; their work relative value units increased 7.4% to 9,750. Median compensation per wRVU was flat year over year, at $76.81.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
