Cardiology one of healthcare’s top specialties when it comes to net worth, paying off debt
Nearly half of all cardiologists have a net worth between $1 million and $5 million, according to a new report from Medscape.
The report, available here in full, was built using data collected from Oct. 4, 2019, to Feb. 10, 2020. Medscape received survey responses from more than 17,000 physicians overall, covering dozens of different specialties.
While 47% of cardiologists have a net worth between $1 million and $5 million, another 38% have a net worth of less than $1 million. The remaining 15%, meanwhile, have a net worth of more than $5 million. Only three other specialties—orthopedics, plastic surgery and gastroenterology—have a higher percentage of physicians with a net worth of more than $5 million.
Cardiology’s average annual salary is $438,000, according to a separate Medscape report, so perhaps these findings should not come as any sort of surprise.
These were some other noteworthy findings from the new study:
- Mortgages, car loan payments and car lease payments are the three most common debts currently being paid off by cardiologists.
- 34% of cardiologists have a mortgage of more than $500,000. On the other hand, 34% of cardiologists have completely paid off their mortgage or have no mortgage payments to speak of.
- Just 17% of cardiologists are still paying off their school loans—one of the lowest percentages for any specialty included in Medscape’s study.
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.