30 orthopedic surgeon pay, bonus & demand insights

Angie Stewart -   Print  | Email

Thirty things to know about compensation and demand for orthopedic surgeons in 2020:

1. Nineteen percent of orthopedic surgeons have a net worth over $5 million, the highest percentage among specialists in Medscape's "Physician Debt and Net Worth Report 2020."

2. Orthopedic surgeons were the 15th most-requested specialists from April 1, 2019, to March 31, 2020, according to Merritt Hawkins' "2020 Review of Physician and Advanced Practitioner Recruiting Incentives and the Impact of COVID-19."

3. Fifty-five of the 3,251 permanent physician and advanced practitioner search engagements conducted by Merritt Hawkins/AMN Healthcare's physician staffing companies in the one-year period were for orthopedic surgeons.

4. For 2019-20, average income offered to orthopedic surgeons was up 16.7 percent year over year.

5-9. Average guaranteed income/base salary offered to orthopedic surgeons over the past several years was:

2019-20: $626,00
2018-19: $536,000
2017-18: $533,000
2016-17: $579,000
2015-16: $521,000

10. With an average salary of $255,110, surgeons placed No. 2 in U.S. News & World Report's Best Job rankings released Jan. 7. U.S. News identified jobs with the largest projected number of openings from 2018-28 and assessed salary figures using data from the U.S. Bureau of Labor Statistics.

11. For specifically orthopedic surgeons, average annual income is higher than that of any other specialty on Medscape's 2020 reports, at $511,000.

12. Orthopedic surgeons earn the highest incentive bonuses of 20-plus specialties in 2020, taking home $96,000 on average each year.

13. Orthopedic surgeon compensation increased 6 percent from 2019-20, according to Medscape.

14. Sixty percent of orthopedic surgeons surveyed by Medscape between October 2019 and February 2020 said they believe they are fairly compensated.

15. Among specialists included in Medscape's "Physician Compensation Report 2020," 55 percent had an incentive bonus, compared to 58 percent of primary care physicians. 

16. The average incentive bonus among physicians who earn one is $26,000 and 13 percent of total salary.

17. Overall, physicians earn about two-thirds of their potential bonus, Medscape reported. The specific percentage earned is 64 percent for primary care physicians and 69 percent for specialists.

18-19. Thirty-two percent of specialists said the number of hours they worked was influenced by incentive bonus, while 67 percent said their incentive bonus didn't change the number of hours they work, Medscape found for 2020.

20. Just 1 percent of specialists Medscape surveyed for 2020 said their incentive bonus was met with a decrease in the number of hours worked.

21-22. Among specialists, men earn 31 percent more than women earn in 2020. The pay gap was 33 percent in 2019, and many physicians expect it to continue thinning.

23-24. Eleven percent of orthopedists are women, an increase of just 2 percentage points over the past five years.

25. Compensation and reimbursement factor into burnout for 34 percent of orthopedists, according to Medscape's "Orthopedist Lifestyle, Happiness & Burnout Report 2020."

26-27. For orthopedic specialists, 18 percent of claims are denied or need resubmitted, according to Medscape's "Physician Compensation Report 2020." That puts orthopedists at No. 8 for the most claims denied or resubmitted.

28. The highest-paying profession for those with a graduate, professional or doctoral degree is specialty physician practice, according to a ranking by business insurance resource AdvisorSmith.

29-30. Orthopedic surgeons generate the fourth-highest revenue for hospitals, according to 2019 survey results from Merritt Hawkins. On average, orthopedic surgeons bring in $3.29 million every year.

More articles on orthopedics:
20 best hospitals for orthopedics, ranked by US News & World Report
3 orthopedic surgeons running for US Congress
6 billionaire doctors in the US have a combined net worth of $25.3B

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies here.