About 37 percent of primary care and pediatric physicians saw their personal income drop last year, according to the annual Physicians Practice 2012 Physician Compensation Survey. Income fell more than 10 percent for 21 percent of surveyed primary care and pediatric physicians in 2012, with another 16 percent experiencing a drop of less than 10 percent.
However, income for physicians in other specialties rose modestly in 2012. Among PCP/pediatric respondents, nearly 40 percent make less than $150,000 per year, but only 29 percent of OB-GYNs and 10 percent of radiologists earned less than that mark. Some PCPs and pediatricians have taken work outside of their practice to make up for loss income.
Nearly a third of surveyed PCPs and pediatricians say the viability of their practice is shaky and they are working harder just to maintain their income, and another third report the practice is not significantly growing. “Fewer physicians than ever report being owners or partners of their own practices, as hospitals and health systems continue to seek market share through direct employment and practice ownership, and smaller group practices consolidate,” according to Physicians Practice.
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