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Keith L. Martin | May 14, 2021
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
Many physicians' offices closed temporarily or saw fewer patients in 2020 due to COVID-19, making it a worrisome year for physician compensation, on top of concerns about the well-being of both patients and providers. While the worst business days are over for some physicians — indeed, rheumatologists reported an average increase in income in 2020 — others still struggle to recover.
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
Despite 42% of rheumatologists reporting some decline in compensation, average specialist income grew from $262,000 in 2019 to $276,000 in 2020. Average income for physicians overall varied little from 2019 to 2020, despite the hardships brought by COVID-19.
Almost 18,000 physicians in over 29 specialties told us about their income, bonuses, hours worked, greatest challenges, and the surprising impact of COVID on their compensation. Survey respondents reported their compensation for patient care. For employed physicians, that includes salary, bonus, and profit-sharing contributions. For self-employed physicians, it includes earnings after taxes and deductible business expenses, before income tax. Only full-time salaries were included in our results.
Some totals in this presentation do not equal 100% due to rounding.
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
Most rheumatologists who saw a drop in income cited COVID-19–related issues such as job loss, fewer hours, and fewer patients. One tenth pointed to non–COVID-related factors. (Respondents could choose more than one answer.)
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
Four in 10 rheumatologists who suffered financial or practice-related ill effects due to the pandemic expect their income to return to normal this year. Nearly half believe it will take 2 to 3 years. Eighty-three percent of such physicians overall anticipate a return to pre-COVID income levels within a couple of years. Notably, 45% of physicians overall said the pandemic did not cause them financial or practice-related harm.
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
Respondents reported how much time they spent on medical-related work outside of patient visits, including time devoted to paperwork, EHR documentation, administrative and managerial work, participation in professional organizations, and clinical reading. Across the profession, physicians spend an average of 16.3 hours per week on such tasks. Rheumatologists spend less.
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
Physician work hours generally declined for at least some time during the pandemic, and some physicians were even furloughed, but most are now working about the same number of hours they did prior to COVID-19. Rheumatologists are back to an average 47 hours per week. Perhaps not surprising, intensivists, infectious disease physicians, and public health and preventive medicine physicians are pulling longer hours now, about 6 or 7 more per week than before.
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
While physicians who see patients generally are working about the same number of hours per week that they did pre-pandemic, they are typically seeing fewer patients due to time spent on medical office safety protocols, answering questions around COVID-19, and other factors. Pediatricians are experiencing one of the largest average declines (78 patients per week prior vs 64 now — down about 18%), followed by dermatologists, orthopedists, and otolaryngologists (each down about 15%). Rheumatologists are seeing an average decline of about 10%, from 85 to 77 patients per week.
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
Among self-employed rheumatologists, 46% believe that a drop in patient volume of up to a quarter is permanent. Eleven percent said the volume is permanently reduced by just over a quarter to a half.
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
A majority of physicians overall plan to keep taking Medicare and/or Medicaid patients. However, 15% of rheumatologists will stop treating at least some of the patients they have and not take new ones, or are yet undecided. (Respondents could choose more than one answer.)
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
About two thirds of rheumatologist respondents were planning to participate in the Merit-based Incentive Payment System (MIPS) in 2021. "The stakes for the Quality Payment Program — the program that incorporates MIPS — are high, with a 9% penalty applied to all Medicare reimbursement for failure to participate," says Elizabeth Woodcock, MBA, CPC, president of physician practice consulting firm Woodcock & Associates in Atlanta, Georgia. "With margins already slim, most physicians can't afford this massive penalty. It makes sense to protect your revenue by complying with — at least — the bare minimum." (Respondents could choose more than one answer.)
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
Similar to last year's report (55%), 58% of rheumatologists said they feel fairly compensated. Nearly 8 in 10 oncologists feel that they are fairly compensated, up from 67% last year — putting them at the top of the list again. Plastic surgeons' attitudes saw the largest positive change (to 68%, up from 55% last year) while otolaryngologists' slid the furthest (to 57%, down from 66%).
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
Despite professional challenges, most physicians find their work rewarding. Three in 10 rheumatologists said being very good at what they do is their main source of career satisfaction. A quarter cited positive relationships with patients, while about the same proportion said making the world a better place brings the most reward.
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
Dealing with difficult patients is the top challenge for almost a quarter of rheumatologists. One fifth said working with an EHR system is their biggest challenge.
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
If they had a choice, 80% of rheumatologists would pick medicine again, similar to physicians overall (78%). Despite the shock, safety issues, stress, and grief wrought by the pandemic, this is about the same response as in the prior year (79% of rheumatologists and 77% of all physicians). In our 2013 Compensation Report, with almost 22,000 physician respondents, only 51% of physicians said they would choose medicine again as their career.
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
As they were in last year's report, dermatology, orthopedics, oncology, and ophthalmology are among the top of the list. Rheumatology has moved from a bit below to a bit above the middle. Family medicine and internal medicine are typically toward the bottom, as they are again this year.
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
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Medscape Rheumatologist Compensation Report 2021
Keith L. Martin | May 14, 2021 | Contributor Information
'Death by 1000 Cuts': Medscape National Physician Burnout & Suicide Report 2021
Burnout and depression are still serious problems among physicians, especially amid COVID-19. More than 12,000 physicians told us how burnout has affected their relationships, career, and happiness.Medscape Features Slideshow, Jan 2021
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