Newest physician report also shows GI as a top 5 most in demand specialty
The GI industry is projected to be down 1,630 positions by 2025 according to Physicians Thrive’s “2022 Physician Compensation Report”. The report, released Jan. 27, outlines compensation and hiring trends to provide an industry-wide overview of data for readers.
The report also adds the expected total physician shortage in the United States is expected to reach 121,300 by the year 2030, including 55,200 primary care physicians and 67,000 specialists. Factors contributing to the shortage include:
- An aging population (48-percent of the population is projected to be over age 65 by 2032)
- A boom in overall population growth
- Larger numbers of older physicians reaching retirement age
Despite the projected shortage, the review states that gastroenterology remains one of the top-10 most recruited specialties, alongside others such as family medicine, radiologists, neurologists, and more.
Other notes from this report also include:
Job satisfaction: 93-percent of current GI physicians reported they would stay in the specialty if they had the option to pick again, ranking seventh overall. Public Health and Preventative Medicine ranked lowest with 67-percent.
Incentives: GI ranked seventh regarding incentives and bonuses with an average of $60,000 per year.
Average Pay: Gastroenterology ranked seventh in median salary by specialty, bringing in $406,000 per year. The list was led by Plastic Surgeons at $526,000 per year.
Pay by location: The southeast is expected to be the most impacted region by the physician shortage, despite this, Tennessee ($329k), Florida ($331k), Alabama ($348k), South Carolina ($332k), and Georgia ($330k) rank among the top-10 states for highest median salaries for physicians and physician compensation.
To read the full report click here.