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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Dermatologists who responded to this year's Medscape compensation survey disclosed their compensation, number of hours they work weekly, their major rewards and challenges, and more. (Note: Chart values have been rounded and may differ from the sums cited in the captions.)

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Survey respondents were asked to provide their annual compensation for patient care. For employed physicians, this includes salary, bonus, and profit-sharing contributions. For partners, it includes earnings after taxes and deductible business expenses before income tax. Dermatologists were eighth from the top this year at $386,000. Orthopedists were the highest earners this year at $489,000, and pediatricians the lowest at $202,000.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Compensation for cardiologists and oncologists has not changed since the 2016 survey. Pediatricians were the only specialists who reported a decrease this year, of 1%. All other survey respondents reported an increase, including dermatologists (1%), with plastic surgeons' and allergists' gains the largest at 24% and 16%, respectively.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Average compensation for US-trained dermatologists ($390,000) exceeds that of their foreign-trained peers ($257,000) by 52%. The average among all US-trained physicians surveyed is $301,000, second highest following those trained in Canada ($328,000).

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Among dermatologists, there is a wide gap in gender participation. Among racial groups comprising more than 5% of dermatologists, men outnumbered women among those who said they are white/Caucasian (63% vs 37%), while the reverse was true among self-identified Asian respondents (27% vs 73%).

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

This year, the highest average compensation was reported by dermatologists in the Northwest and North Central regions (both at $529,000), followed by the Northeast ($432,000). The lowest was found in the South Central ($296,000) and Mid-Atlantic ($359,000) regions.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Physicians who are employed earn less than those who are self-employed, trading in a higher salary for less time spent dealing with administrative and business issues.

Self-employed dermatologists earn 45% more than their employed peers ($455,000 vs $314,000).

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

This year, as in all previous years' reports, full-time male dermatologists reported higher earnings than their female counterparts. Men earned $418,000, 23% more than women, who earned $339,000.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

More than two thirds (68%) of dermatologists this year say they receive employer-subsidized health insurance. In addition, 61% get liability coverage, half employer-subsidized dental insurance, and 45% an employer-matched retirement plan. Thirteen percent reported that they receive no benefits.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

This year, among all physicians, nearly one quarter (22%) of women and 10% of men reported that they work part-time (less than 40 hours per week). Among dermatologists, however, 36% of women and 14% of men surveyed work part-time.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Nearly two thirds (65%) of dermatologists surveyed believe that they are fairly compensated, ranking them second from the top among all physicians. At the bottom of the list, just 41% of nephrologists reported that they feel their compensation is fair, followed in dissatisfaction by endocrinologists (44%). Emergency medicine physicians, at 68%, were most likely to report that they do feel fairly compensated.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

This year, in addition to asking respondents if they are satisfied with their compensation, the Medscape survey asked those who were not satisfied how large an increase they feel they deserve. Thirty-six percent of dermatologists believe they deserve to be earning between 11% and 25% more, while 9% believe their current income should be increased by over 75%.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

This year, 26% of dermatologists' participated in accountable care organizations (ACOs)—unchanged from 2016—while 3% had concierge and 8% had cash-only practices. More than one third (34%) of dermatologist respondents reported that none of the payment models listed apply to them.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA), also known as the permanent "Doc Fix," went into effect on January 1, 2017. This year's Medscape survey asked dermatologists if they expect to participate, and at 57%, they were among the most likely to answer affirmatively.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

In this year's survey, when dermatologists were asked whether they would drop insurers that pay poorly, 38% said they would and 39% said they would not. (The question was not applicable to 23% of dermatologist respondents, most likely because they are employed by hospitals or other organizations.)

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Just over one third (34%) of dermatologists reported that they have seen an influx of new patients over the past year as a result of the Affordable Care Act, compared with 30% in 2016.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Most dermatologists (74%) surveyed said they will continue to take new and treat current Medicare and Medicaid patients. Only 6% indicated that they intend to stop taking new patients, and 3% will drop current patients who are recipients. Thirteen percent said they have not yet decided.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

This year has seen a notable increase in the percentage of all Medscape survey respondents who say they are participating in healthcare exchanges, up to 37% from 19% in 2016. Among dermatologists, 33% said they plan to participate in the exchanges, up from just 15% last year, while 29% do not plan to participate, down from 33%.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

One third of dermatologists reported no change in income due to health insurance exchanges, 5% said their income had increased, and 22% said that it had decreased. Thirty-nine percent of dermatologist respondents did not participate in an exchange.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

This year, 94% of dermatologists surveyed said they either regularly or occasionally discuss the cost of treatment with patients. Sixty-three percent reported that they do so regularly and 31% said they do so occasionally.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

When we asked dermatologists whether they charge patients for appointments missed without notice, 33% of solo practitioners said they do compared with 41% of respondents in single-specialty group practices and 18% of those in multispecialty groups.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Only 12% of dermatologists surveyed spend more than 45 hours each week with patients—the same percentage as last year—while 88% put in 45 hours per week or less.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Most dermatologists who responded this year (62%) spend 12 minutes or less with each patient. Just over one third (37%) spend between 13 and 24 minutes, and only 2% spend 25 minutes or more. (Note: This slide applies to office-based physicians only.)

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

According to this year's Medscape Lifestyle Report, bureaucratic tasks remain the primary cause of burnout among physicians. More than half (56%) of all physicians surveyed spend 10 hours or more per week on paperwork and administration, up from 35% in the 2014 report. Below the overall rate, 48% of the dermatologists polled devote 10 hours or more to such tasks each week.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Just over half (52%) of dermatologists who are employed indicated that they are seeking a promotion.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Gender appears to play a role in whether dermatologists seek promotion. The gap between men and women who answered affirmatively is 25%, with a lower percentage of men (43%) than women (68%) saying they are seeking promotion.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

In this year's survey, 39% of dermatologists noted relationships with and gratitude from patients as the most rewarding aspect of their jobs, and 35% named being good at what they do and doing it well. Far lower percentages cited making good money at a job they like (15%), pride in their profession (6%), and knowing they are making the world a better place (3%). A scant 2% said they find nothing rewarding about their jobs.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

In addition to asking what dermatologists find most rewarding, we asked what they find most challenging about their jobs. Well over a third (39%) chose the number-one response, "having so many rules and regulations." Dealing with difficult patients placed second at 16%, followed closely at 15% by difficulties with reimbursement.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

When asked this year whether they would still choose medicine if they had to do it over again, 80% of dermatologists answered affirmatively, ranking them in the upper third of physicians.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

Of those who would choose medicine again, dermatologists rank at the top: 96% would also choose their own specialty again.

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

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Medscape Dermatologist Compensation Report 2017

Sarah Grisham | April 12, 2017 | Contributor Information

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