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Compensation data from Doximity shows only tepid growth in physician pay in 2020
Compensation for U.S. doctors grew only 1.5% on average between 2019 and 2020, according to new compensation data from Doximity.
The reason? COVID-19. “Medical practices of all sizes have been negatively impacted by the pandemic,” the report reads. “It’s been widely reported since March, 2020 that hospitals and private medical practices have seen steep declines in revenue due to delayed or canceled elective medical procedures and treatments. While we do not have visibility into the compensation agreements between physicians and individual healthcare systems, it’s possible that this trend has also impacted physician compensation growth.”
Check out the slideshow below, which shows the 10 metro areas with the highest compensation for physicians in 2020.