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Physicians working as Hospitalists are enjoying a record high demand for their services. While this demand is high, it is important to know if you are being appropriately compensated for your services. Today's Hospitalist released survey results from their 2017 Career & Compensation Survey and it showed some encouraging findings in regard to Hospitalist compensation everywhere.
Physicians working in the area of Hospital Medicine can expect to earn an average of $283,191 a year with hourly shift rates totaling $122 an hour(1). This reflects a $66,000 increase in hospitalist compensation over the last 8 years.
Although hospital salary may be growing for many, certain aspects of Hospitalist practice are more lucrative than others.
Hospitalists working as Nocturnists earn the highest hospitalist salaries, averaging $311,765 a year(1). If a nighttime work schedule isn't for you, consider adding ICU coverage to your resume and you could increase your earnings. Hospitalists providing services in the ICU earn about $32,000 a year more than their colleagues that do not provide ICU coverage(1).
This additional compensation for hospitalists, when added to potential productivity bonuses, can produce a sizable increase in earnings for motivated Physicians.
If you are seeking new employment opportunities and want to maximize your earnings, consider employment in the southwest. Hospitalists practicing in the southwest United States report the highest compensation in the country, earning an average of $309,000 annually(1).
The benefits associated with practice location aren't limited to just geography. Hospitalists employed with Multispecialty or Primary Care based groups saw the highest increases in pay amongst all specialties. These groups frequently have the highest levels of demand for Hospitalists and hold many potential employment opportunities for interested Physicians.
Being a seasoned Physician doesn't always mean more pay. The Today's Hospitalist survey found that pay essentially plateaus once a Hospitalist Physician has been practicing for 5 years. After 5 years of practice, there are no significant increases in earnings despite the additional experience a Physician brings to the job.
Are you interested in a career as a hospitalist? Do you feel as if you aren't fairly compensated in your current hospitalist position? PracticeMatch is a free, confidential resource listing hundreds of hospitalist positions at great employers across the United States. Find your next hospitalist job with PracticeMatch. Search active listings today.
1 2017 Today's Hospitalist Career & Compensation Survey Results. TodaysHospitalist.com Accessed on 3/20/18.