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Physician income growth from 2009 to 2010 was relatively flat (-0.14 percent on average), according to the annual physician compensation and relocation report from The Medicus Firm, a physician recruiting firm. Thirty percent of physicians attributed the lack of income growth primarily to decreasing reimbursements.
Physicians reporting income declines in 2010 included radiologists and oncologists. On the other hand, emergency medicine physicians reported their income rose 5.5 percent on average and psychiatrists reported their income rose 11.5 percent on average.
Specialties that saw the greatest income growth (based on percentage growth over the previous year) were emergency medicine physicians (up 5.5 percent) and psychiatrists (up 11.5 percent).
“While many physicians don’t choose medicine for the money initially, they do want to be compensated fairly, especially considering the additional years of school and training invested,” said Jim Stone, president and managing partner. “Physicians may be more susceptible to career burn-out or dissatisfaction if they do not feel they are paid what the market bears for their services.”
The Medicus Firm, a national physician recruiting firm, surveyed more than 2,300 U.S. physicians across 19 medical specialties. A small percentage of the respondents included nurse practitioners, physician assistants and physicians in training.