Radiologists are among the most in-demand physician specialists in the U.S. and receive some of the highest starting salaries, according to recent figures from Merritt Hawkins.
A majority of requests performed by the healthcare recruiting firm were for physician specialists as opposed to primary care providers, with radiology the third most requested specialty behind only family medicine and nurse practitioners (No.1).
Radiology was also linked to the second most search assignments and job openings, labeled as “absolute demand” by Merritt Hawkins. This, in part, reflects the rising need for rads and the growing use of imaging procedures.
“Demand for both radiology and anesthesiology … are increasing, a clear sign that volume of medical procedures is growing,” authors of the 38-page report wrote. “Whether it is a diagnosis or a procedure, little happens in healthcare without an image.”
At the same time, radiologists are offered one of the highest base salaries, landing at an average of $401,000 per year. The highest wage earners take home $825,000 and the lowest start at $150,000.
While this reflects a 3% year-over-year dip from 2019/2020’s mark of $423,000, it still places the specialty at No. 5 overall. Interventional cardiologists sit atop the field ($611K), followed by orthopedic surgeons ($546K), gastroenterologists ($453K) and non-interventional cardiologists ($446K).
A number of specialties experienced a similar wage dip, led by orthopedic surgeons’ 13% drop, according to the survey. Neurology, non-interventional cardiology and psychiatry all increased year over year, bucking the trend.
Specialist salaries have generally risen, but the drop-off in elective procedures during COVID-19 certainly impacted entry-level pay across the board. Changes in Medicare and other payer reimbursement factors may have also contributed, the report authors noted.
Going forward, Merritt Hawkins sees a likely return to normal, and a jump in starting salaries to follow.
“Long-term, the dynamics of physician supply and demand, including an aging population and an aging physician workforce, remain in place. Over time, physician shortages are likely to once again emerge, stimulating demand for physicians and advanced practitioners and exerting upward pressure on their starting salaries and other recruiting incentives.”
This 28th iteration of Merritt Hawkins’ annual Review of Physician and Advanced Practitioner Recruiting Incentives is a representative sample of 2,458 providers surveyed between April 2020 and March 31, 2021. The findings cover all 50 states as well as Washington, D.C., and the U.S. Virgin Islands.
Read the full report here.
Matt joined Chicago’s TriMed team in 2018 covering all areas of health imaging after two years reporting on the hospital field. He holds a bachelor’s in English from UIC, and enjoys a good cup of coffee and an interesting documentary.