The Medical Group Management Association’s annual salary survey revealed physician pay has exceeded $257,000 per year, while specialist pay is pushing $425,000 a year, Forbes reports.
According to Forbes’ report citing the survey, the salary on average for primary care physicians rose roughly two percent to $257,726 last year, up from $253,629 in 2016. Specialist pay posted a slight increase, touching $425,136 in 2017, up from $423,392 in 2016.
Primary care doctors, according to the report, have seen solid gains in their compensation as value-based pay models from payers and Medicare put emphasis on keeping patients healthy and out of costly hospital environments.
Primary care physicians have seen a 10.62 percent pay increase from $232,989 in 2013. Specialists’ pay has risen only 5.69 percent as of 2017 over five years.
“With a nearly two-fold rise in median compensation for primary care physicians over their specialist counterparts and increased additional incentives, we can now see the premium organizations are placing on primary care physicians’ skills to combat this shortage,” MGMA President and CEO Halee Fischer-Wright said.
To read the full report on Forbes, click here.
