Average salaries are up 4% for cardiologists, more than most other specialties
Physician salaries in the U.S. grew at a much slower rate in 2020 than in previous years, according to a new report from Doximity. For cardiologists, however, compensation continues to climb.
Cardiologists reported an average annual compensation of $527,231, No. 7 overall among all specialties. While neurosurgeons had the highest average annual compensation, $746,544, the specialty with the lowest average was preventive medicine at $234,587.
Looking closer at the data, compensation is up 3.9% among cardiologists, increasing from $507,471 in 2019 to $527,231 in 2020. This puts cardiology in the top 10 among all specialties included in the report. Vascular surgeons experienced the highest jump seen by any specialty, 4.9%.
Overall, however, compensation is up just 1.5%, which Doximity described as “relatively flat” compared to previous years.
“This is striking given that healthcare prices continue to be one of the fastest rising components of the Consumer Price Index,” according to the report. “So while healthcare prices are rising faster for patients, these price changes do not translate into increased compensation for medical professionals.”
In a statement highlighting the new data, Peter Alperin, MD, vice president of Doximity, said these findings show “how significantly the COVID-19 pandemic is impacting the healthcare industry.”
“By continuing to track this data over a multi-year timeframe, our hope is to assist key stakeholders in understanding employment trends taking shape in the healthcare system,” he added.
The report was written using survey responses from approximately 44,000 full-time physicians. Click here for the complete document.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.