Physician Job Outlook (Employment Statistics 2023)

COVID-19 and the associated community mitigation efforts transformed the delivery and access to healthcare across the United States. The pandemic necessitated reforms that could improve the ability of the healthcare system not only to cope with future pandemics but also to meet the primary healthcare needs of Americans more effectively. An integral measure to improve healthcare preparedness and service delivery is to urgently fill the projected shortage of crucial healthcare professionals, including physicians.  

New data published by AAMC (Association of American Medical Colleges) reveals that the United States could see a projected shortage of between 37,800 and 124,000 physicians by 2034, affecting both primary and specialty care. Physicians play multi-faceted roles in the US healthcare sector, and if you are considering a career as a physician, you need to keep up to date with the latest changes. This blog post looks at the current physician employment statistics. If you have any questions or concerns about your employment contract, our physician contract review team at Chelle Law can help.

1 million: the number of professionally active physicians in the US

Statista estimates that as of September 2021, there were about one million physicians in service in the USA. Additionally, active specialist physicians totaled 552 310 in the same period under study. The US states with the most active physicians include California, New York, and Texas. Female physicians continue to be outnumbered by their male counterparts in most medical specialties. They earn less than their counterparts in both primary care and specialty settings.

Ranked no.3: Physicians made the top 10 of “100 Best Jobs” in 2022

US News and World Report ranked physician practice number 3 in the 100 best jobs survey 2022. Physicians are undoubtedly ubiquitous in the medical world. They leverage their expertise to examine, diagnose and treat patients. Typically physicians practice medicine in every health care setting, from emergency rooms and hospitals to private practice. They also take care of patients in all specialties, from primary care and pediatrics to geriatrics and palliative care.

Hospitals, physician offices, and other healthcare professionals are among the top places hiring physicians in 2022

Physicians are employed in diverse healthcare settings, including hospitals, clinics, private offices, and outpatient centers. In 2022, more physicians are practicing in groups or health care organizations that provide backup coverage while allowing more time off. Surgeons typically work in hospitals or surgical outpatient centers. A significant number of physicians also work in research laboratories, medical schools, and Veterans Administration hospitals.

1200 to 1900: the number of patients most primary care physicians see in a year

Currently, the panel size for physicians in the US is 1200 to 1900 patients per year. This is down from a figure of 2300 in 2005. Smaller patient panel sizes allow primary care physicians to focus more on each patient, thereby giving them individualized attention. This enables the physician to coordinate care, especially for patients living with chronic or complex conditions.

51 hours: the average number of hours physicians work per week

A 2018 study by the Physicians Foundation shows that doctors, on average, work 51 hours a week and see about 20 patients a day. Almost 25% of their time is dedicated to nonclinical paperwork. However, it is essential to note that the number of patients a doctor can offer quality care to without compromising their well-being or job satisfaction depends on factors such as how many tasks can be delegated.

$208,000: the median salary amount that physicians make in a year

As of 2020, the best-paid physician made a median salary of $208,000, while the lowest-paid earned $126,470. In 2021, virtually all physician specialties saw an income increase as the demand for their services rose sharply due to the complications of COVID19. Otolaryngology saw the most significant increase, at 13%, while critical care physicians, which bore the biggest brunt of the pandemic, realized a meager 1% increase. As of 2022, plastic surgery remains the highest-paid specialty at an annual compensation of $576,000, with physicians in public health and preventive medicine taking the least annual compensation at $243,000. Self-employed physicians in private practice generally have a higher median income than salaried physicians. However, self-employed physicians must cover the cost of practice insurance, health insurance, and retirement.

Job outlook: 22,700 openings for physicians each year

The overall employment of physicians is expected to grow by 3% each year from 2020 to 2030. This statistic translates to about 22,700 job openings for physicians and surgeons annually for this decade. Most of these openings will likely result from a need to replace workers who exit the labor force, retire or transfer to other occupations.

Most in-demand physicians: primary care physicians

Primary care physicians include internal medicine, family medicine, geriatrics specialists, and pediatrics. The professionals provide the primary resources, including prescribing medicines, conducting routine physicals, treating minor illnesses, and managing chronic conditions. The second most in-demand physicians are the internists. These physicians diagnose and perform non-surgical treatments of various diseases and internal organ injuries like heart disease or diabetes. Emergency medicine physicians are also among the most in-demand professionals. Others are psychiatrists and physicians who diagnose and treat mental, emotional, and behavioral disorders.

Race and ethnicity: 13.7% of active physicians are of unknown race

A 2018 diversity report from AAMC shows among active physicians, 56.2% identified as White, 17.1% identified as Asian, and 5.8% identified as Hispanic. Only 5.0% were identified as Black or African American. Women constituted a more significant proportion than men among African American physicians. However, the males were more than the females in all the other groups; 5.7% of Asian physicians, 60.1% of Alaska Native or American Indian physicians, 65.5% of White physicians, and 59.5% of Hispanic physicians were male. 

Chelle Law can help you negotiate a better physician contract

COVID-19 has exposed several disparities in health and access to health care services in the USA. The pandemic has highlighted the crucial role physicians and other healthcare providers play in our nation’s healthcare infrastructure. Consequently, the need to ensure we have enough physicians to meet America’s needs has never been so urgent. 

At Chelle law, our physician contract attorneys can help you review your contract, identifying areas that need improvement to ensure you sign the best contract possible.  Contact us today to learn more about our physician contract review solutions and our other areas of practice.