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Re-negotiating your physician contract with your current employer can feel intimidating, especially if you are already navigating the complexities of patient care. But learning how to advocate for yourself is crucial to ensuring your contract reflects your professional and personal needs. Whether you’re looking to revise your salary, change your work hours or adjust other critical terms, successfully requesting and negotiating these changes can significantly impact your career satisfaction and long-term success.



Evaluate your current contract



Before initiating a conversation with your employer, understand the terms you’re already obligated to. The first step in any contract negotiation is to thoroughly review your existing agreement. You will want to pay attention to pivotal sections like salary and bonus structures, work hours and on-call expectations, non-compete clauses, termination clauses, vacation and continuing medical education (CME) time and other benefits.



By identifying the areas that no longer align with your needs and goals, you will be able to focus your negotiation on specific items rather than asking for a complete overhaul. Additionally, having a clear understanding of your current contract puts you in a stronger position when you discuss revisions to your contract with your employer.



Timing is key



Knowing when to approach your employer is hugely important. Negotiating contract terms isn’t something that can be done at any time. So, approaching your employer at the right time demonstrates your awareness of business dynamics and increases the chances of more productive negotiation.&nbsp;



Some good times to initiate the conversation may include:



<ul class="wp-block-list">
<li>At the time of renewal:&nbsp;Many contracts are up for review at the end of a term. This is the most natural opportunity to bring up the subject and request changes organically during conversation.</li>



<li>After a significant achievement:&nbsp;If you’ve recently made a notable contribution to your practice, such as bringing in more patients or taking on additional responsibilities, this can be leveraged during a negotiation.</li>



<li>When market conditions change: If physician compensation or other market trends have shifted, use data to justify your request for adjustments.</li>
</ul>



Do your research



Before requesting changes, it’s essential to be well prepared with facts and data. Research the current compensation trends for your specialty, considering regional variations. Websites such as Medscape and Medical Group Management Association can provide valuable insights into salary benchmarks and benefits for your area of expertise.



In addition, understanding the local job market can help you determine your leverage. If there’s a high demand for your specialty in your geographic area or even within your healthcare organization, you may have more negotiating power. By presenting well-researched information, you can frame your requests in a way that’s fair and reasonable, rather than simply asking for more money or better terms without context.



Be clear about what you want



Instead of vaguely stating you want a better deal when negotiating contract terms, come prepared with set requests. Having clear, actionable points helps your employer understand exactly what you’re looking for and allows for a more focused discussion. Specificity is important.



Here are some ways you can phrase some of the more common contract requests:



<ul class="wp-block-list">
<li>Salary adjustments:&nbsp;“I’d like to discuss aligning my compensation with the 75th percentile based on MGMA data for our region.”</li>



<li>Schedule flexibility:&nbsp;“I would like to negotiate more flexibility in my schedule, particularly in reducing my on-call hours.”</li>



<li>Benefits enhancement:&nbsp;“Could we explore increasing CME funding and vacation days, especially in line with industry standards?”</li>
</ul>



Understand your employer’s perspective



It’s important to realize your employer has their own set of priorities and financial constraints, so approaching a contract negotiation with empathy can go a long way with your employer. Framing requests in a way that aligns with the organization’s goals, you’ll be more likely to reach a favorable outcome. For instance, if you’re requesting more time off, you could propose ways to manage the patient load during your absence or help streamline department workflow.



It&#8217;s also important to realize certain requests might be nonnegotiable. For example, payment terms (amount, method, frequency, timing of payments), having private office space or getting an assistant . Taking a collaborative rather than adversarial tone is key.



Negotiate with flexibility



Negotiations are rarely about getting everything on your wish list but instead about finding a mutually agreeable middle ground. This means while it’s important to be clear about your priorities, you should remain open to compromise. If salary adjustments aren’t possible, your employer may be able to offer additional vacation days, CME funding or a lighter on-call schedule. Remember, the more flexible you are, the more likely you are to find a solution that will work for both parties.



Consider legal review



It’s always a good idea to have a legal professional review your contract before finalizing any changes. A healthcare attorney experienced in physician contracts can help you understand the legal implications of any revisions and ensure you aren’t agreeing to unfavorable terms. They can also help you identify hidden clauses or potential issues you may not have considered.



Document everything



Once you’ve come to an agreement with your employer, ensure all changes are documented in writing. Verbal agreements can lead to misunderstandings, whereas a written record will protect both you and your employer in the event of a dispute. Make sure the final contract includes all the revised terms and adjustments you’ve discussed and you fully understand the new conditions before signing.



Remember, the ability to negotiate a new contract with your current employer is a critical part of managing your career as a physician. Your contract should reflect not only your worth as a physician but also support your personal and professional growth. Having an agreement that adequately reflects your needs and protects the benefits you prioritize will help increase your job satisfaction and leave you free to concentrate on positive patient outcomes.



For more information on physician contracts and contract negotiation, visit the&nbsp;<a href="https://www.practicelink.com/resource-center/" target="_blank" rel="noopener">PracticeLink Resource Center</a> and find out how you can negotiate a physician agreement that works best for you.

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Jackie Farley

Animated image of a physician negotiating a contract.

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Negotiating a physician contract with your current employer

Preparing for medical board exams can be a daunting task for any medical student or resident. With such high stakes involved, it’s essential to have the right resources at your fingertips as you begin your preparation.&nbsp;



Here is a list of the top 10 resources for preparing for medical boards:



1. Question banks



Utilizing comprehensive question banks for board exam preparation. These resources offer hundreds – sometimes thousands – of practice questions that closely mimic the actual exam format. Each question typically comes with detailed explanations, helping you understand the underlying concepts. Many platforms also feature analytics to track performance and identify areas needing improvement.



2. Comprehensive review books



A solid review book is a staple for board preparation. These books condense critical information into accessible formats, covering all essential topics. The latest editions often include updated guidelines and high-yield facts that are particularly useful for quick reviews. Many students find it beneficial to use these books alongside practice questions to reinforce their knowledge.



3. Structured review courses



Structured review courses are available through various educational platforms and can cater to different learning styles. They typically offer a combination of online lectures, live classes and practice questions. These resources provide structured study plans that help you focus your preparation and stay organized throughout your study period.



4. Integrated knowledge platforms



Some platforms combine a medical knowledge library with an integrated question bank, making them a unique resource for board preparation. These tools offer clinical information and interactive features that allow you to link concepts with questions, reinforcing your learning by providing context and assessing real-world applications.



5. Video lecture series



Since videos are the way most people in today’s world receive information, video lecture series are a great resource for visual learners. Videos can either cover core topics in medicine that simplify complex subjects or cover specialized areas of medical knowledge. The accompanying notes and practice questions complement the video content, allowing for active engagement with the material. This resource is particularly valuable for those who may struggle with traditional textbook learning and are used to retaining information via screens.



6. Visual learning tools



Visual learning tools use storytelling and memorable illustrations (sometimes interactive) to teach more challenging subjects like microbiology and pharmacology. This common approach aids in retaining information long term, making it easier to recall during exams. Many students find this method particularly effective for complex topics that require a deeper understanding.



7. Self-Assessments



Self-assessment tools provided by official examination bodies offer a realistic experience of what the actual board exams will be like. These assessments can help you gauge your readiness and identify areas that need further review. Designed to mimic the exam format, they can be a crucial part of your final preparations.



8. Medical news and updates



Staying updated on current medical news and clinical updates is valuable, even if it’s not specifically tailored for board exam prep. Access to the latest guidelines and research can broaden your understanding of the field. Many platforms also feature quizzes and articles that serve as supplementary learning tools.



9. Online communities



Joining online communities can be incredibly beneficial for board preparation. Social media groups and online forums allow you to connect with fellow medical students and professionals. These platforms provide a space for sharing resources, asking questions and discussing strategies. Peer support can be invaluable, especially when managing stress and motivation.



10. Study groups



Forming or joining a study group can also significantly enhance your preparation. Collaborating with peers allows for diverse perspectives on complex topics, leading to a deeper understanding in a peer-to-peer setting. Teaching each other and discussing challenging questions can reinforce your knowledge.&nbsp;



Preparing for medical board exams is a challenging and rewarding journey. Utilizing a mix of high-quality resources can significantly enhance your study experience and boost your confidence on exam day. From comprehensive question banks to engaging video lectures, each resource has its unique strengths. Tailor your study plan to include a variety of these tools and remember consistent effort and a supportive network can make all the difference.&nbsp;



For more insights on preparing for medical boards, visit the&nbsp;<a href="https://www.practicelink.com/resource-center/categories/board-prep/" target="_blank" rel="noopener">Board Prep and Review section</a>&nbsp;of&nbsp;<a href="https://www.practicelink.com/resource-center/" target="_blank" rel="noopener">PracticeLink’s Resource Center</a>.

Stephen Leggitt

Animated image of physician preparing for medical board.

Top-10-resources-for-preparing-for-medical-boards

Top 10 resources for preparing for medical boards

Effective communication is vital for the physician-patient relationship. A physician’s ability to remain calm, patient and composed while delivering care and communicating can significantly impact patient outcomes, satisfaction and, perhaps most importantly, trust. However, maintaining this composure can be challenging when emotions run high or when patients become combative.&nbsp;



Here are some best practices to help physicians communicate effectively with patience, ensuring patients stay calm, informed and reassured.



1. Cultivate active listening skills



One of the most effective ways to communicate is to practice active listening. When patients feel heard, they are more likely to be calm and cooperative. When patients sense you value their concerns, they are more likely to trust (and therefore follow) your advice and feel at ease – even in difficult situations.



There are three things you can do to improve your active listening:



<ul class="wp-block-list">
<li>Give your full attention:&nbsp;Maintain eye contact and use non-verbal cues like nodding to show you’re engaged.</li>



<li>Avoid interrupting:&nbsp;Let patients express their concerns fully before offering a response.</li>



<li>Clarify and summarize:&nbsp;Repeat key points back to the patient to confirm understanding and show you are truly listening.</li>
</ul>



2. Stay calm and collected during conversations



As a physician, remaining calm is not only important for your own mental well-being but also for maintaining an atmosphere of professionalism. After all, emotions can escalate quickly in a medical setting, due to fear and the patient’s lack of medical understanding. To stay calm during patient interactions, consider the following techniques:



<ul class="wp-block-list">
<li>Take a deep breath:&nbsp;If you find yourself becoming frustrated or anxious, take a moment to breathe deeply and collect your thoughts before responding.</li>



<li>Practice mindfulness:&nbsp;Being present in the moment can help reduce stress and keep you focused on the patient rather than any external pressures or distractions.</li>



<li>Speak slowly and softly:&nbsp;When you maintain a calm tone, it can help de-escalate tense situations, even when the patient may be stressed or upset. They will subconsciously match your energy.</li>
</ul>



3. Keep patients informed and reassured



Medical terminology and complex diagnoses can overwhelm patients, leaving them confused, stressed and anxious. Clear communication infused with compassion helps ensure they understand their conditions and treatment options and feel reassured.&nbsp;



Providing clear, concise information while demonstrating empathy can greatly enhance the patient’s experience and their trust in you as a provider. Some things you can do to keep patients informed without stressing them further are:



<ul class="wp-block-list">
<li>Simplify medical terms: Break down complex information into language the patient can easily absorb and understand. For instance, instead of saying, “Your labs indicate hyperlipidemia,” explain, “Your cholesterol levels are higher than we’d like, and here is how we can fix that.”</li>



<li>Use visual aids: Visuals can help patients grasp difficult information more quickly. Whenever possible, use charts, diagrams or models to explain medical conditions and procedures.&nbsp;For older patients without family members to help them process information, or patients with high anxiety, consider writing the information. (Not just on stapled pages of discharge paperwork, but in the moment, so when you leave the patient’s bedside, or when the patient leaves your office, they will have something to refer to and share with others they talk to later.)</li>



<li>Offer step-by-step explanations: Clearly outline what will happen during each step of a treatment or procedure. People have a natural tendency to fear the unknown, so knowing what to expect greatly helps to reduce patient anxiety.</li>



<li>Reassure with empathy: Acknowledge the patient’s fears or concerns and take the extra time to offer reassurance. Phrases like “I understand this is difficult, but we’re going to work through it together” can go a long way toward letting a patient know they have an ally as well as a physician.</li>
</ul>



4. How to handle verbally combative patients



Not every interaction with patients will go smoothly. Stress, fear or frustration can lead to patients becoming argumentative or even verbally combative. It’s important to understand this is often a case of them taking out their fears and frustrations on the messenger.



As a physician, it’s essential to manage these situations professionally and empathetically. By maintaining professionalism and focusing on de-escalation, you can turn potentially combative situations into more productive conversations.



Here are ways to successfully manage these types of interactions:



<ul class="wp-block-list">
<li>Keep calm and avoid engaging emotionally:&nbsp;Sometimes the best way to avoid escalating a situation with a verbally combative patient is to avoid an emotional response. Keep your tone and your demeanor calm and neutral.</li>



<li>Set boundaries:&nbsp;If a patient becomes overly aggressive, politely but firmly set boundaries. For instance, say, “I understand you’re upset, but it’s important we have a calm conversation so I can help you.”</li>



<li>Validate their feelings:&nbsp;Patients often become argumentative because they feel misunderstood or unheard. Acknowledge their feelings. Sometimes saying something as simple as, “I can see this is frustrating for you, and I want to help. Let’s work through this together” can help diffuse the situation.</li>



<li>Redirect the conversation:&nbsp;If a patient’s aggression continues, try to redirect the conversation back to their health. Keep the focus on their medical condition and how you can help, rather than the conflict.</li>



<li>Know when to seek help:&nbsp;If a patient’s behavior becomes too aggressive or potentially threatening, don’t hesitate to seek assistance from security or other staff members. Your safety and that of your team is the top priority.</li>
</ul>



In addition to the strategies we’ve discussed, taking care of your own mental and emotional well-being is key to being able to consistently communicate with patience. Self-care practices, such as regular exercise, adequate sleep and stress management techniques, can help you stay resilient under pressure. Additionally, developing a strong support network within your practice&nbsp;–&nbsp;whether that’s through colleagues or mental health resources&nbsp;–&nbsp;can provide you with the emotional support needed when dealing with particularly challenging patients, or even easy-going patients with a challenging diagnosis.



Ultimately, the key is realizing one of the most important skills a physician can possess is the ability to communicate effectively. Being patient, calm and composed with your patients can improve both their experience and the quality of care you are able to provide. And positive patient outcomes are something every physician really wants to talk about.&nbsp;



For more information and insights on best practices in practicing medicine, visit the&nbsp;<a href="https://www.practicelink.com/resource-center/" target="_blank" rel="noopener">PracticeLink Resource Center</a>.

Animated image of physician communicating with patients with patience.

Communicating-with-patients-with-patience

Communicating with patients with patience 

In business and in life, whether you’re spending money or exerting effort, it’s understandable to expect a tangible return on what you’re investing. This is especially true for international medical graduates (IMGs) hoping an observership will help them get accepted into residency in the United States.



From coast to coast, there are several observership programs for IMGs planning to build medical careers in the US. They range from four to six weeks and can cost as much as $10,000, plus the additional costs for application fees, housing and visas. With so much at stake, we interviewed Dr. Amy Yue Yu, who oversees Johns Hopkins’ Hospital Medicine Observership Program to see how observerships can help IMGs succeed.



The Johns Hopkins observership program is a relatively new, highly competitive, six-week shadowing and mentoring experience at Bayview Medical Center, a teaching hospital in downtown Baltimore, Maryland.&nbsp;



PracticeLink: How does the Johns Hopkins program help IMGs settle into the US?



Dr. Amy Yue Yu:&nbsp;Some observers find accommodations through their own existing relationships. For others, we’ve compiled a list of potential residential areas next to Bayview Medical Center or Johns Hopkins Downtown. This information is shared with them when they are accepted to the program



On orientation day, we provide them with a list of local restaurants and areas of interest. Throughout their observership, we invite them to award ceremonies, baby and wedding showers and different celebrations. We also have work get togethers, so they don&#8217;t feel left out while they’re in the US.



PL: How does the program help introduce American culture?



Dr. Yu:&nbsp;Observers are invited to cultural events, including celebrations during Hispanic month, African American month, Pacific Islander month and other ethnic and cultural observances, where we introduce cultural food issues, as well as historical and cultural lessons.



Then there’s the matter of diversity, equity and inclusion (DEI) and its role in the U.S. and American healthcare. I think it&#8217;s almost impossible to have a conversation about IMGs without talking about DEI. IMGs represent diversity in US and in healthcare. As much as we want them to respect and be mindful of cultural equality in the US, they also deserve equity and inclusion.&nbsp;



In our observership program, basically half of our observers are females, and they came from 10 different countries. And remember, we’re still pretty new. We have only had 14 observers so far. It’s already a very diverse group. A few of them are MD PhDs, several have MBBS degrees, and the rest are MDs. 



They have their own preconceived notions about the US, definitely. I mean, they are in their late 20s, early 30s. They probably have a vision about things already before coming to the US. They are culturally wise, and they love to share.&nbsp;



We come together like a family. One of the most wonderful feedback comments I received from our observers is how much they feel like a family at the end of their rotation. They become like brothers and sisters from different cultures.



PL: How do you make sure the IMG observership experience is successful?



Dr. Yu:&nbsp;I have heard that some observers in other programs reported feeling lost and angry. I am very proud to tell you that this is not the case with our observers. They are heard. They&#8217;re cared for. From day one we have a dedicated coordinator.&nbsp;



By sending their orientation schedules in advance, nothing is a surprise. They know exactly where to be on day one, who they are going to be with and what their schedule looks like. It is an epic schedule and everything is laid out. You know that at 8:45 you&#8217;ll be doing this. At 9:00 you get this. You know who&#8217;s going to escort you to get your badge, and where you&#8217;re going to do your training.&nbsp;



Additionally, we periodically check in prior to their arrival, because some of them may be accepted a month before her rotations actually start. We check in to make sure they&#8217;re doing okay.&nbsp;



So day one is dedicated orientation and training. After that, they have several scheduled meetings with me, the program director. Then we meet on an as-needed basis. They also meet with a core faculty member, which is the observer&#8217;s weekly private meeting. And then there&#8217;s the trained RISE counselor meeting with them privately at least once throughout their rotations.&nbsp;



The door to my office is always open. The observers can always get a hold of me. Sometimes I&#8217;m clinical, in which case, I&#8217;m not here. But if I&#8217;m not clinical and I&#8217;m in my office, my door’s always open. Sometimes they just reach out to me, like, “Hey, Dr. Yu, do you have five minutes to talk about something?” I&#8217;m very flexible.&nbsp;



We also have a dedicated office for observers. Once you enter, it is an open area where our observers hang out. Feedback from previous observers is posted on the white board. The very first observer did it, and it just became a tradition.&nbsp;



<ul class="wp-block-list">
<li>This program has been amazing experience offering invaluable learning opportunities and supportive mentorship. I hope you find it as enriching as I did, and wish all of us great success in the future.</li>



<li>Thank you for a wonderful learning experience. It has been an absolute privilege to have been a part of this team. I look forward to maybe crossing paths again in the future as colleagues.</li>
</ul>



PL: Does the program offer letters of recommendation?



Dr. Yu:&nbsp;I just wrote a letter of recommendation today. Individuals successfully completing the program can request one letter of recommendation from the program director. We encourage them not to ask individual providers they work with for a letter, because they may not have enough exposure with the person to feel comfortable doing so, and then they end up writing a letter which is not good enough for the person.&nbsp;



Our program has a nickname. It&#8217;s called FAITH: the Focused Accelerated IMG Training in Healthcare program. We think every IMG needs to have FAITH. We are flexible. We understand things happen in life. We have had situations where people were accepted and booked their flights but then a family member got sick. We are flexible enough that they can start one week later. We make accommodations. Maybe instead of working five days per week, that person worked six days per week.



An observer must complete the program to earn a letter.&nbsp;



PL: Should IMGs do multiple observerships?



Dr. Yu:&nbsp;I would suggest a “quality over quantity” kind of strategy. Residency programs look at both inpatient and outpatient experiences. If you choose to do two observations, select one that’s inpatient, and one that’s outpatient. However, applying for multiple observership programs can be financially challenging to many IMGs, so my suggestion is to find the program that is most fit for your personal goal and vision.&nbsp;



PL: How can the Johns Hopkins program impact the careers of IMGs?



Dr. Yu:&nbsp;We offer targeted lectures, mentorship, publication opportunities, mock interviews and more.&nbsp;



We survey our observers before and after their rotation. We don’t run the observership program&nbsp;&nbsp;based solely on what we think IMGs want. We listen to them. They tell us what they like, what they don&#8217;t like, what their expectations are, and whether what we did met those expectations.&nbsp;



What they gain from this observership program is not just limited to an additional line on their CV or a letter of recommendation. They receive a true understanding of how the US healthcare system actually works and how a US hospital works. They also find friends of a lifetime, they network, they publish, and they are ready for their residency and future success. So they’re always able to put their best foot forward. That&#8217;s our goal.



For more information on observerships, immigration and visa assistance, visit <a href="https://www.practicelink.com/resource-center/" target="_blank" rel="noopener">PracticeLink.com/resource-center</a>.

Georgia Scott

Animated image of physicians practicing observerships.

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How observerships can help international medical graduates succeed

It is plainly—and not at all surprisingly—the right time to practice medicine in rural areas. Healthcare access in rural parts of the U.S. is an ongoing battle physician recruiters, local communities and the government are doing better at addressing. After tackling challenges one by one, on an individual, local, organizational and federal level, there are now an abundance of opportunities that make physician life in rural areas better than ever.



<h2 class="wp-block-heading">Federal investment</h2>



Respondents to a&nbsp;<a href="https://www.issuelab.org/resources/35197/35197.pdf" target="_blank" rel="noopener">2001 survey</a>&nbsp;commissioned by the W.K. Kellogg&nbsp;Foundation found the majority of rural, urban, and suburban Americans hold strongly positive views about rural life. These include perceptions that rural areas are closely-knit communities with hard workers,&nbsp;friendly neighbors, a relaxed&nbsp;lifestyle&nbsp;and aesthetic surroundings. Respondents also pointed out the many economic and social challenges, including that rural areas are behind the times and suffer from a significant lack of internet. To address these issues, the federal government infused substantial investments by way of grants, programs and laws. Twenty years after the Kellogg study, those initiatives seem to have paid off. In the USDA’s recent report,&nbsp;<a href="https://www.ers.usda.gov/publications/pub-details/?pubid=107837" target="_blank" rel="noopener">Rural America at a Glance</a>, the U.S. rural population has grown approximately a quarter percent from 2020 to 2022, while one of the stigmas of rural areas—poverty—declined by 9.7 percent in 2021 compared with a decade earlier. Additionally, there was a&nbsp;<a href="https://www.rd.usda.gov/newsroom/news-release/biden-harris-administration-announces-401-million-high-speed-internet-access-rural-areas#:~:text=U.S.%20Department%20of%20Agriculture%20%28USDA%29%20Secretary%20Tom%20Vilsack,rural%20infrastructure%20and%20affordable%20high-speed%20internet%20for%20all." target="_blank" rel="noopener">$401 million</a>&nbsp;federal commitment in 2022 to bring high-speed internet to rural areas in 11 states, as well as&nbsp;<a href="https://www.forbes.com/sites/rhettbuttle/2024/02/08/five-ways-the-investing-in-america-agenda-is-supporting-rural-small-businesses/" target="_blank" rel="noopener">initiatives</a>&nbsp;to develop or improve infrastructure and business opportunities.



<h2 class="wp-block-heading">Financial security</h2>



The median compensation between physicians in urban areas and those working in rural communities&nbsp;<a href="https://www.mgma.com/data-report-provider-comp-2024" target="_blank" rel="noopener">is minimal</a>, while in some regions, rural physicians make more than their urban counterparts.&nbsp;



Life in rural areas, however, has a lower cost of living. According to the Bureau of Economic Analysis (BEA), for instance, 2020 regional prices in Arkansas were 89.18% of the&nbsp;of the overall national price levels, while in DC, they were 111.46%. For housing, homes are nearly&nbsp;<a href="https://www.wealthmeta.com/blog/rural-vs-urban-living-budgets-and-net-worth#:~:text=Rural%20life%20is%208.6%25%20cheaper%20on%20the%20budget,services%20also%20cheaper%20%28like%20haircuts%2C%20lawn%20mowing%2C%20etc%29." target="_blank" rel="noopener">30% cheaper</a>&nbsp;in rural communities, and homeownership is more than 20% higher.&nbsp;



Lower prices allow forward-thinking physicians more flexibility to plan for their future. Building wealth security goes a long way toward overall peace of mind. Combined with the other burgeoning benefits of rural life, physicians can combine quality patient care with a truly vibrant lifestyle.



<h2 class="wp-block-heading">Hospital-sponsored activities</h2>



Rural hospitals and clinics have strengthened relationships with their local communities by reaching out to them in creative ways. For instance, Bonner General Health in Sandpoint, Idaho has two programs that bring together the community, patients and medical staff. It maintains a tranquil healing garden on the hospital campus, which is meant to serve as a place of spiritual solace, and it runs an annual Hospice Rose Event—now in its 26th year. North Country HealthCare in Flagstaff, Arizona offers sexual assault support, as well as a health and fitness program called Fitness at 45. The Alaska Native Tribal Health Consortium in&nbsp;Anchorage, Alaska uses social media and their website to actively disseminate useful information about everything from water quality to hotel and travel tips for patient families who may need to stay overnight.



<h2 class="wp-block-heading">Community activities</h2>



Communities themselves offer a bounty of fun activities that don’t try to compete with big city life. Marathons, half marathons and triathlons bring in dozens, possibly hundreds of participants, compared to the unwieldy thousands of big city marathons. To relax and enjoy local talent, there’s community theater, county fairs, festivals and outdoor concerts. For more rugged events, there are rodeos, bull riding competitions, horseback riding and weekend ranching.



Where rural townships and counties do make a point to compete with nonrural areas is childhood education. Statistically and perception-wise, academic achievements in rural schools lag behind their nonrural counterparts, particularly in the areas of math and science. Reports have also noted that children have less access to counseling, which can affect their <a href="https://www.edweek.org/leadership/report-outlines-the-distinct-challenges-facing-rural-schools/2023/11" target="_blank" rel="noopener">mental health</a>. To address these inequalities, as well as retain residents and attract newcomers, school districts are developing <a href="https://www.educationnext.org/improve-rural-schools-focus-on-strengths-facilitate-school-choice-charter-conversions-solutions/" target="_blank" rel="noopener">strategies</a> that focus on each district’s strengths. Examples include increased federal funding, increasing access to services common to urban areas, bringing in better leadership, empowering students and developing site-specific, autonomous school models.  



<h2 class="wp-block-heading">Individual and family activities</h2>



The outdoor and more relaxed lifestyle of rural communities allows healthcare professionals and their families to do a wide range of activities that focus on improving stamina and pursuing healthier habits, such as as farm-to-table eating.&nbsp;



Rural areas have abundant natural resources perfect for golf, hiking, camping, bird watching, nature photography and foraging. Most rural communities with wooded areas allow hunting. Nebraska, for instance, has several hunting seasons, including archery deer, dove, grouse, teal, turkey and other small game. Rural areas often have quick access to fun water activities such as canoeing,&nbsp;kayaking, fishing and in some areas, cliff diving, as well as invigorating winter pastimes including skiing and snowboarding, even if it’s just practicing down smaller, local hills.



Some of the best perks of living in rural communities are fewer fussy ordinances banning bonfires and fireworks, both generally illegal in urban areas.



<h2 class="wp-block-heading">Professional growth</h2>



Half of the rural physician workforce is over the age of 55 and expected to retire within the next decade. A study by the National Library of Medicine identified 120 program or incentives being used exclusively to attract and retain physicians in rural areas, including loan repayment, J-1 visa waivers and fellowship opportunities. There are additional incentives physicians and physician recruiters have said in interviews that they negotiated, such as a support staff, four-day work week or doing telehealth two days a month, which has the added benefit of allowing patients who can’t travel to the hospital or clinic to still be treated. There’s also the possibility of CME allowance, teaching and writing opportunities or research hours.



For more insight on working in rural communities and physician quality of life, visit PracticeLink’s resource center at&nbsp;<a href="https://www.practicelink.com/resource-center/" target="_blank" rel="noopener">PracticeLink.com/resource-center</a>.

Animated image of hospital in rural areas.

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Opportunities making physician life in rural areas better than ever

As physicians, having reliable malpractice insurance is crucial to protecting your career and your financial future. Whether you’re just starting out in your medical career or have been practicing for years, understanding malpractice coverage is essential.&nbsp;



How do you know if you have good malpractice insurance? If it’s lacking, how can you find the right coverage? Let’s look at the key factors to consider when deciding the best malpractice insurance for your needs: 



<h2 class="wp-block-heading">1. Evaluate your current malpractice insurance</h2>



It’s important to evaluate your existing malpractice insurance, so you can know if you need to find new, better coverage. You’ll want to make sure it offers adequate protection and aligns with your current practice setting and specialty. Here are a few questions to help assess the quality of your existing policy:



What type of policy do you have?



There are two primary types of malpractice insurance:&nbsp;claims-made&nbsp;and&nbsp;occurrence-based. Claims-made policies provide coverage only if the claim is made while the policy is active. Occurrence-based policies cover any claims made for incidents that occurred during the policy period, even if the claim is filed after the policy expires.



If you have a claims-made policy, make certain it includes tail coverage or be prepared to purchase it separately to protect yourself if you leave your current practice or the policy lapses.



Are the policy limits sufficient?



Another key consideration is whether your policy limits are high enough to cover potential claims. Malpractice insurance policies typically have two types of limits.&nbsp;Per-claim limits&nbsp;have a maximum amount the insurer will pay for a single claim.&nbsp;Aggregate limits&nbsp;have a maximum amount the insurer will pay in a given policy period. This is usually a year.



Do some research to ensure your limits are in line with the average malpractice settlements in your specialty and region. If they’re too low, you could be personally liable for any amount that exceeds that coverage!



What is covered under your policy?



Good malpractice insurance should cover all aspects of your medical practice. Make sure your policy covers the following:



<ul class="wp-block-list">
<li>Medical malpractice claims- which include allegations of negligence or failure to provide appropriate care.</li>



<li>Legal defense costs- including attorney fees, court costs and any other litigation-related expenses.</li>



<li>Settlements and judgements- which encompasses any amounts paid to settle a claim or judgement awarded by the court.</li>
</ul>



Additionally, check to see if your policy covers both direct patient care and any administrative or consulting roles you may take on.



<h2 class="wp-block-heading">2. Signs you need to shop for new malpractice insurance</h2>



If your current malpractice insurance doesn’t meet the criteria outlined above, or if you’ve recently changed practice settings or specialties, it might be time to think about new coverage. Here are some red flags that indicate it’s time to explore other options:



<ul class="wp-block-list">
<li>Your policy limits are too low for your specialty.</li>



<li>Your policy doesn’t offer tail coverage or occurrence-based protection.</li>



<li>The premiums are too high when compared to the coverage being offered.</li>



<li>Your current insurer has a poor track record of handling claims fairly or efficiently.</li>
</ul>



<h2 class="wp-block-heading">3. How to find the right malpractice insurance</h2>



Once you’ve decided to look for new coverage, there are things to consider during your search for the right insurance for your practice.



Assess your specialty’s risk level.



There are certain specialties, such as neurosurgery, obstetrics and emergency medicine, which have higher malpractice risks and may require a more robust level of coverage. So, when shopping for a new policy, make sure the insurer offers coverage tailored to your specific specialty.



Shop around for the best rates.



Insurance premiums can vary significantly between malpractice insurers. Take the time to compare quotes from multiple providers. Be cautious about choosing the cheapest option, though. It’s vital to make sure the coverage meets your needs. Online insurance comparison tools can be helpful for this process, or you can work with an insurance broker who specializes in medical malpractice coverage.



Take the reputation of the insurer into consideration.



Your malpractice insurer should have a strong reputation for fair claim handling and a history of financial stability. Check for ratings from agencies like&nbsp;A.M. Best&nbsp;or&nbsp;Standard &amp; Poor’s, which assess the financial strength of insurance companies. Additionally, ask other physicians about their experience with different insurers, especially in terms of claim resolution.



Make sure you understand the coverage options available when selecting malpractice insurance.



In addition to deciding between claims-made and occurrence-based policies, you may also want to investigate:



<ul class="wp-block-list">
<li>Tail coverage- which protects you from claims made after the policy ends.</li>



<li>Nose coverage- which protects you from claims related to incidents that occurred before your current policy starts.</li>



<li>Cyber liability coverage- which protects you from data breaches or cyberattacks if you work in a practice that handles electronic medical records.</li>
</ul>



Work with a specialized insurance broker.



A broker who specializes in medical malpractice insurance can be an incredibly valuable resource. They’ll have a deep understanding of the unique risks physicians face and can help you navigate the intricacies of coverage options. Brokers can also compare policies from multiple insurers to ensure you get the best deal.



<h2 class="wp-block-heading">4. Review the policy terms carefully</h2>



Once you’ve selected a malpractice insurer, review the policy carefully before signing. Pay close attention to:



<ul class="wp-block-list">
<li>Exclusions- what is not covered by the policy?</li>



<li>Policy duration- how long does the coverage last and are there renewal terms?</li>



<li>Premium rates- are they fixed, or could they increase over time?</li>
</ul>



Verify the policy provides comprehensive coverage that fits your unique needs as a physician, both now and as your career progresses.



Having the right malpractice insurance is essential for physicians to protect their professional and financial well-being. Whether you’re a new physician just starting your career or a seasoned practitioner reassessing your coverage, taking the time to review your malpractice insurance is an investment in your future.



For more information on insurance and other best practices as a physician, visit <a href="https://www.practicelink.com/resource-center/" target="_blank" rel="noopener">PracticeLink.com/resource-center</a>.

Animated image of physician and clipboard that reads malpractice insurance.

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Covering yourself with malpractice insurance

In the 19th century, long before insurance companies and credit cards, doctors were typically paid directly per procedure by patients or their families, sometimes with emergency evening visits being more expensive and the cost for treating children often less. Payment back then wasn’t always in cash. Instead, compensation sometimes came “in kind” with produce, services or goods.&nbsp;



Today,&nbsp;<a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/physician-compensation-understanding-models-trends-and-specialties/" target="_blank" rel="noopener">physician compensation</a>&nbsp;comes in the form of&nbsp;<a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/physician-compensation-models/" target="_blank" rel="noopener">physician compensation models</a>: economics and business-based payment structures which can significantly impact physician work, satisfaction and the overall efficiency of healthcare delivery. Understanding these models as a full-time physician can already be a lot; for physicians working as locum tenens, or doing interim or temporary work, <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/how-are-physicians-paid-in-a-productivity-model/" target="_blank" rel="noopener">physician compensation models</a> can vary dramatically with each assignment, so it’s important to understand all of them.



<h2 class="wp-block-heading">What is a physician compensation model in healthcare</h2>



A physician compensation model is a comprehensive framework that determines how healthcare providers are remunerated for their services. They range from salary-based payments to performance incentives. In healthcare, compensation models aim to ensure physicians are rewarded for their efforts, patients receive quality care and employers can stay afloat financially.



The four most common types of compensation models are:



<ul class="wp-block-list">
<li>Salary: A fixed annual amount paid regardless of the number of patients treated.&nbsp;</li>



<li>Fee-for-service: Physicians are paid for each service they provide, incentivizing high patient volume.</li>



<li>Value-based: Compensation is tied to the quality of care provided, focusing on patient outcomes and satisfaction.</li>



<li>Hourly: Many locum tenens agencies pay physicians by the hour as employees of the agency, regardless of which hospital they’re assigned to.</li>
</ul>



Understanding these models is crucial for making informed decisions about healthcare practices and policies.



<h2 class="wp-block-heading">What is the most common physician compensation model</h2>



Among the various&nbsp;<a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/what-are-the-models-of-rvu-compensation-for-physicians/" target="_blank" rel="noopener">physician compensation models</a>, the salary model is most common. This approach provides financial stability for physicians, allowing them to focus on patient care without the stress of fluctuating income based on patient volume.



Fee-for-service models are prevalent in certain specialties where high patient turnover is standard. Value-based models are growing in popularity because financial incentives sometimes align with patient health outcomes. Getting paid by the hour simplifies physician compensation for short-term employment, including additional administrative work not included in the physician’s contract.



Each model has its advantages and challenges, and the best choice often depends on the specific needs and goals of the healthcare facility and its providers.



<h2 class="wp-block-heading">What are the three components of physician compensation</h2>



Understanding&nbsp;what are the three components of physician compensation in healthcare&nbsp;can provide insights into how these models function. Typically, these components include:



<ol class="wp-block-list" start="1">
<li>Base Salary:&nbsp;A guaranteed annual salary that provides financial security for physicians. Even if the base salary is calculated by the number of hours worked, providers still have a full understanding of how much they can expect with each paycheck.</li>



<li>Incentives:&nbsp;Performance-based bonuses tied to metrics such as patient satisfaction, quality of care, or productivity.</li>



<li>Benefits:&nbsp;Additional perks, including health insurance, retirement plans and continuing education allowances, which enhance overall compensation.</li>
</ol>



These components work together to create a comprehensive compensation package that not only attracts but also retains talented physicians.



<h2 class="wp-block-heading">How is physician compensation calculated</h2>



Calculating&nbsp;physician compensation 2024&nbsp;involves a variety of factors, including the chosen compensation model, the physician&#8217;s specialty, geographic location and the healthcare organization&#8217;s financial structure. Typically, healthcare facilities assess:



<ul class="wp-block-list">
<li>Market rates:&nbsp;Analyzing compensation data within the region and specialty.</li>



<li>Performance metrics:&nbsp;Evaluating productivity and quality of care delivered.</li>



<li>Negotiation factors:&nbsp;Considering the physician&#8217;s experience, skills and demand in the area.</li>



<li>Supply and demand:&nbsp;The physician shortage has increased the need for a locum tenens workforce, while the attention to physician burnout has made getting paid for additional work standard.</li>
</ul>



By factoring in these elements, organizations can establish competitive compensation packages that align with their operational goals.



Understanding physician compensation models is vital for navigating the complexities of healthcare today. By exploring the different types of models and their components, healthcare providers can make informed decisions that benefit both their practices and patient care.&nbsp;



For more insights into&nbsp;physician compensation, explore the&nbsp;<a href="https://www.practicelink.com/resource-center/" target="_blank" rel="noopener">resource center</a>&nbsp;at PracticeLink.com. To discuss job opportunities with recruiters, including for locum tenens work, sign up for our&nbsp;<a href="https://jobs.practicelink.com/conferencelisting/?ConferenceType=virtualCareerFair" target="_blank" rel="noopener">Virtual Career Fairs</a>.

Animated image of physicians pondering physician compensation models.

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What is a physician compensation model?

In the world of healthcare, there are several&nbsp;<a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/physician-compensation-models/" target="_blank" rel="noopener">physician compensation models </a>(one of which is a productivity model) organizations utilize to pay doctors. These models vary based on the healthcare system, specialty and size of the practice.&nbsp;



<h2 class="wp-block-heading">What is the most common physician compensation model?</h2>



The three most <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/what-is-a-physician-compensation-model/" target="_blank" rel="noopener">common models</a> are salary-based compensation, production-based compensation and a hybrid model that combines the two.



<ol class="wp-block-list">
<li>Salary-based compensation model: In this structure, physicians receive a fixed salary regardless of the number of patients they see or procedures they perform. It is common in academic medical centers, large hospitals and salaried physician groups. The main advantage of this model is the financial stability it can offer; however, the disadvantage is it may lack incentives for high performance.</li>



<li>Production-based compensation model: Often referred to as the productivity model, this approach rewards physicians based on the volume of services they provide. Physicians are compensated for the number of patients they see, procedures they perform or the amount of revenue they generate. This model is particularly popular in private practices and group medical practices.</li>



<li>Hybrid compensation model: Combining aspects of both salary and productivity-based compensation, this model allows physicians to receive a stable base salary along with performance incentives. It strikes a balance between financial security and the motivation to increase productivity, making it a common choice for larger health systems.</li>
</ol>



<h2 class="wp-block-heading">What Is the physician productivity model?</h2>



Growing in popularity is the&nbsp;physician productivity model, which&nbsp;is a compensation structure that ties a physician’s income to the services they provide. But&nbsp;what is the physician productivity model in healthcare&nbsp;and why is it so widely used? Essentially, this model rewards doctors for their output. The more patients they see or procedures they perform, the higher their earnings.



This type of compensation is measured using metrics such as Relative Value Units (RVUs). RVUs assign a standardized value to the services doctors provide, from patient consultations to complex surgeries. Each procedure or service is worth a certain number of RVUs, and physicians are compensated based on how many RVUs they accumulate over a specific period.



This model can be beneficial for physicians who are motivated by high performance and have the capacity to manage a larger patient load. It can also give an advantage to healthcare organizations by encouraging more efficient and productive work among their doctors. However, this model is not without its challenges. Physicians may experience burnout from consistently high workloads, and there is the potential quality of care could be compromised in favor of quantity.



<h2 class="wp-block-heading">What Is a productivity bonus for doctors?</h2>



Many organizations offer a&nbsp;base salary plus productivity model&nbsp;to their physicians which guarantees a set income while also providing the opportunity for additional earnings through productivity bonuses. This hybrid system gives physicians financial security while still rewarding them for exceeding productivity benchmarks.



A productivity bonus is typically based on how much revenue a physician generates beyond their base salary requirements. For example, if a physician’s base salary covers a certain amount of <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/what-are-the-models-of-rvu-compensation-for-physicians/" target="_blank" rel="noopener">RVUs</a>, they may earn a bonus for any RVUs they accumulate beyond that threshold. This bonus is a powerful incentive for physicians to increase their productivity, especially in high-demand specialties such as surgery or radiology.



In this model, doctors are encouraged to work efficiently while maintaining the flexibility to focus on patient care. The combination of a guaranteed base salary and the possibility of earning a productivity bonus can strike a healthy balance between stability and performance-based income.



<h2 class="wp-block-heading">How to calculate physician productivity</h2>



Physician productivity is often calculated using a&nbsp;value-based physician compensation model example&nbsp;to determine how well a doctor performs in relation to their compensation. While the basic productivity model focuses primarily on volume (i.e., the number of patients seen or procedures performed), value-based models take into consideration the quality of care provided.



A common way to calculate physician productivity is by using RVUs, but value-based models also factor in patient outcomes, satisfaction scores and other quality indicators. This is known as a “quality incentive” or “value-based care” component. In this scenario, a doctor who achieves high patient satisfaction ratings or provides better patient outcomes might receive a bonus, even if their raw productivity numbers are lower.



For example, a value-based model might assign higher RVU values to physicians who see more complex cases or who provide preventive care that reduces hospital readmissions. This approach aims to reward not just quantity but quality, aligning physician compensation with broader healthcare goals like improving patient outcomes and reducing costs.



The&nbsp;<a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/physician-compensation-understanding-models-trends-and-specialties/" target="_blank" rel="noopener">physician compensation</a>&nbsp;landscape is diverse, and compensation models like the productivity-based approach play a crucial role in determining how doctors are paid. While the&nbsp;base salary plus productivity model&nbsp;offers stability along with performance incentives, newer models are beginning to emphasize the importance of value-based care as well. Ultimately, healthcare organizations need to choose the compensation structure that best aligns with their goals and the needs of their physicians.



For more information on physician compensation models and how physicians are paid, check out our resources on physician quality of life and contracts and compensation at&nbsp;<a href="https://www.practicelink.com/resource-center/" target="_blank" rel="noopener">Practicelink.com/resource-center</a>&nbsp;to help you make the most informed decisions during your career journey.

Animated image of physicians being paid in a productivity model.

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How are physicians paid in a productivity model?

Understanding&nbsp;<a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/physician-compensation-understanding-models-trends-and-specialties/" target="_blank" rel="noopener">physician compensation</a>&nbsp;is crucial for medical professionals and aspiring doctors alike. The financial rewards of various specialties can vary significantly. Many prospective medical students often wonder, &#8220;Which specialist doctor earns the most?&#8221;&nbsp;



Here are the <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/what-are-the-top-five-specialties-for-physician-happiness-and-compensation/" target="_blank" rel="noopener">highest paid medical professions,</a> current salary trends and what the future may hold for physician salaries:



<h2 class="wp-block-heading">What medical profession makes the most money?</h2>



When discussing which <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/what-is-the-highest-paid-doctor-subspecialty/" target="_blank" rel="noopener">medical profession makes the most money</a>, it&#8217;s necessary to look at the highest paid doctors by specialty. According to recent data, certain specialties consistently rank at the top. Specialties like orthopedics, cardiology and dermatology frequently dominate the lists of highest earners. Orthopedic surgeons are often recognized for their substantial compensation, reflecting the demand for their expertise in treating musculoskeletal issues.



The competitive nature of these fields is driven not only by the complexity of procedures involved, but also by the length of training required. As a result, specialists who invest years in their education and training can expect significant financial returns.



<h2 class="wp-block-heading">What is the highest paid doctor specialty?</h2>



When we specifically analyze what is the highest paid doctor specialty, surgeons and surgeon salary stand out. Among them, orthopedic surgeons typically command the highest salaries. Recent reports indicate the average orthopedic surgeon can earn upwards of $500,000 annually, depending on factors like location, years of experience and the type of practice setting (private practice vs. hospital employed).



Another high-paying surgical specialty is neurosurgery. Neurosurgeons often earn comparable salaries, with averages also reaching into the $500,000 range. This specialty requires rigorous training and a high level of skill, which is reflected in its lucrative compensation.



<h2 class="wp-block-heading">What is the lowest paid doctor?</h2>



While many specialties earn high salaries, it’s equally important to consider what is the lowest paid doctor. According to the latest data on the <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/which-doctor-makes-the-most-money-in-2024/" target="_blank" rel="noopener">highest paid medical specialties 2024</a>, primary care physicians tend to have lower earnings compared to specialists. Family medicine and pediatrics often report average salaries around $200,000, which, while respectable, pales in comparison to the top-earning specialists.



Factors contributing to lower salaries in primary care include the structure of healthcare reimbursements and the increased focus on preventative care, which can limit earnings potential.



<h2 class="wp-block-heading">Which doctor has the highest salary in the future?</h2>



Looking forward, many are curious about which doctor has the highest salary in the future. As the healthcare landscape evolves, certain specialties are expected to see significant salary growth. For instance, specialties that integrate technology, such as telemedicine and genetic counseling, are predicted to flourish.



Moreover, the demand for specialists in mental health, including psychiatrists, is on the rise, potentially increasing their compensation in the coming years. As society becomes more aware of mental health issues, these professionals may find themselves among the highest earners.



While the current landscape shows orthopedic and neurosurgeons at the top, evolving trends could shift the highest paid medical specialties in the future. Keeping an eye on these trends can help aspiring medical professionals make informed decisions about their careers.



<a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/physician-salary-by-specialty-2024/" target="_blank" rel="noopener">Understanding which specialist doctor earns the most</a> is vital for anyone considering a career in medicine. With specialties like orthopedics and neurosurgery leading the pack, it’s clear financial rewards are significant in these fields.&nbsp;



However, as the healthcare industry continues to change, it’s essential to remain informed about trends in&nbsp;physician salary by specialty 2024&nbsp;and beyond. If you&#8217;re considering a career in medicine or looking to specialize, explore more about the financial implications of various specialties and make informed decisions about your future in healthcare.



For more insights on physician compensation and other relevant topics for those in the healthcare industry, visit the&nbsp;<a href="https://www.practicelink.com/resource-center/" target="_blank" rel="noopener">PracticeLink Resource Center</a>.&nbsp;



For the latest job postings for all the listed specialties in this blog – and more – visit PracticeLink’s&nbsp;<a href="https://jobs.practicelink.com/jobboard/jobsearchresults" target="_blank" rel="noopener">physician job board.</a>



In addition, to read about the latest emerging trends and explore the topics that directly affect those in healthcare organizations, view the latest issue of&nbsp;<a href="https://www.practicelink.com/magazine/" target="_blank" rel="noopener">PracticeLink Magazine</a>.

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Which specialist doctor earns the most?

Physicians, like any professionals, seek careers that bring both personal fulfillment and financial reward. In the world of medicine, some specialties stand out for offering a balance of&nbsp;<a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/physician-compensation-understanding-models-trends-and-specialties/" target="_blank" rel="noopener">physician compensation</a>, job satisfaction and physician happiness.&nbsp;



Choosing the right specialty can greatly impact a doctor’s work-life balance, stress levels and overall happiness. Let’s explore the top five specialties where physicians find both happiness and compensation—answering the important question of how to merge passion with prosperity in the medical field.



<h2 class="wp-block-heading">What medical specialty is the happiest?</h2>



When considering&nbsp;physician happiness by specialty, dermatology often tops the list. Dermatologists are reported to have one of the highest rates of career satisfaction among doctors. This can be attributed to several factors including predictable work hours, lower stress environments and the ability to build long-term patient relationships without the intensity of critical care demands.



Following dermatology, other specialties such as psychiatry and family medicine are also known for higher levels of physician happiness. Psychiatrists often report personal satisfaction from helping patients improve their mental health, while family medicine doctors appreciate the diversity of their work and the long-term connections they form with patients.



Another contender for the happiest specialty is ophthalmology. With relatively less after-hours work and a mix of clinical and surgical duties, ophthalmologists often enjoy a balanced lifestyle. These factors make it clear physician happiness is deeply tied to work-life balance and the ability to manage stress effectively.



<h2 class="wp-block-heading">What is the least stressful medical specialty?</h2>



When evaluating&nbsp;lowest burnout medical specialties, pathology consistently ranks as one of the least stressful. Pathologists typically work behind the scenes, analyzing tissue samples and making diagnoses. This crucial but lower-pressure role in healthcare means they face less patient interaction and fewer emergencies compared to frontline specialties like emergency medicine or surgery.



Radiology is another specialty known for low stress and a high level of job satisfaction. Radiologists often work predictable hours, with many having the option to work remotely. This flexibility contributes to reduced burnout rates, making it a sought-after field for those prioritizing lower stress in their career.



Additionally, dermatology surfaces again in discussions around stress. With lower emergency situations and fewer night shifts, dermatologists can maintain better control over their work hours, contributing to a lower burnout rate. These specialties emphasize that while the work is still demanding, the structure of the job can play a significant role in mitigating stress.



<h2 class="wp-block-heading">What is the highest paying physician specialty?</h2>



In terms of&nbsp;what are the top five specialties for physician happiness and compensation, surgical specialties often dominate the <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/physician-compensation-models/" target="_blank" rel="noopener">compensation landscape</a>. Orthopedic surgeons, for example, consistently rank among the <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/which-medical-specialty-has-the-highest-salary/" target="_blank" rel="noopener">highest-paid physicians</a>, with salaries often exceeding $500,000 per year. This high earning potential is balanced with the satisfaction of performing life-changing surgeries, such as joint replacements or spinal procedures, which can greatly improve patients’ quality of life.



Cardiologists, particularly those specializing in interventional cardiology, also command high salaries. These doctors perform intricate procedures, such as placing stents in blocked arteries, which are critical in saving lives and preventing heart attacks. The combination of financial reward and the opportunity to make an immediate, tangible impact on patients makes cardiology an attractive specialty for many.



Other <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/what-is-the-highest-paid-doctor-subspecialty/" target="_blank" rel="noopener">high-paying specialties</a> include plastic surgery and gastroenterology. Plastic surgeons often have more control over their schedules, while gastroenterologists benefit from the <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/which-doctor-has-the-highest-salary-in-future/" target="_blank" rel="noopener">steady demand for their services</a> in both preventive care and specialized procedures like endoscopies.



<h2 class="wp-block-heading">What is the lowest paid doctor specialty?</h2>



While compensation varies widely across specialties,&nbsp;top medical specialties salary&nbsp;data shows pediatrics and family medicine are generally among the lower-paying fields. Pediatricians, despite their vital role in caring for children&#8217;s health, typically earn less than other specialties. The average pediatrician salary often falls below $225,000 per year, in contrast to higher-paid specialties like surgery or cardiology.



Family medicine, despite its essential role in primary care, also tends to be on the lower end of the pay scale. The broad scope of work, which includes everything from preventative care to managing chronic illnesses, is offset by a salary that often averages below $250,000 per year.



However, it&#8217;s worth noting these specialties, though not the highest in compensation, are often some of the most fulfilling. Pediatricians and family medicine doctors often cite the deep personal connections they form with patients and the ability to make a long-lasting impact on health as significant rewards beyond financial compensation.



When deciding on a specialty, physicians must consider both their personal happiness and&nbsp;physician compensation models. Specialties like dermatology, psychiatry and orthopedic surgery offer some of the best combinations of high satisfaction and competitive salaries. Whether prioritizing work-life balance, low stress, or high earning potential, there is a specialty that aligns with every physician&#8217;s goals.



If you&#8217;re looking to explore the best compensation packages or learn more about which specialty aligns with your lifestyle, check out our physician compensation resources on the <a href="https://www.practicelink.com/resource-center/" target="_blank" rel="noopener">PracticeLink Resource Center</a> for more information!

Megan Trippi

Animated image of physicians pondering what are the top five specialties for physician happiness and compensation.

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What are the top five specialties for physician happiness and compensation?

The world of medicine offers a wide range of specialties, each with its own unique demands, rewards and <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/physician-compensation-understanding-models-trends-and-specialties/" target="_blank" rel="noopener">compensation</a>. For physicians, compensation is not just about the financial aspect; it&#8217;s tied to the level of education, training and the lifestyle they want to achieve.&nbsp;



It’s important to know&nbsp;which medical specialty has the highest salary, what contributes to these figures and what trends can be expected in the future.



When choosing a career in medicine, many physicians consider the balance between <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/what-are-the-top-five-specialties-for-physician-happiness-and-compensation/" target="_blank" rel="noopener">passion and compensation</a>. While some specialties come with higher pay, they also tend to require more years of training and may lead to more stressful work environments. Whether you&#8217;re at the start of your medical journey or considering a change, understanding&nbsp;physician compensation&nbsp;can help you make a more informed decision.



For those who are seeking the top-paying specialties,&nbsp;<a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/highest-paid-medical-specialties-2024/" target="_blank" rel="noopener">highest paid medical specialties 2024</a>&nbsp;can provide a benchmark for what to expect in today’s medical field.&nbsp;



<h2 class="wp-block-heading">What is the highest paid doctor specialty?</h2>



When looking at&nbsp;<a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/which-doctor-makes-the-most-money-in-2024/" target="_blank" rel="noopener">highest paid medical specialties 2024,</a> surgical specialties consistently top the list. Currently, neurosurgeons and orthopedic surgeons are among the highest earners. These specialties require extensive training and are known for their complex and high-risk procedures.



Neurosurgeons, in particular, deal with delicate and life-threatening conditions, often requiring long hours and on-call duties. However, the complexity of their work is matched by their compensation, with many earning well into the seven-figure range annually.



Orthopedic surgeons, particularly those who specialize in sports medicine and joint replacement surgeries, rank high. With an aging population and increasing demand for procedures like hip and knee replacements, the need for these specialists is growing. This trend is expected to continue, with compensation reflecting both the demand and skill required for these procedures.



<h2 class="wp-block-heading">What is the lowest paid medical specialty?</h2>



While certain specialties enjoy high earnings, others fall on the lower end of the compensation spectrum.&nbsp;Physician salary by specialty 2024&nbsp;shows primary care fields, such as family medicine and pediatrics, tend to have lower salaries compared to their surgical counterparts.



Family physicians are integral to the healthcare system, providing ongoing and preventative care to patients.&nbsp;



Despite their vital role, they generally earn less than specialists who perform more complex or procedure-heavy tasks. Pediatricians, who focus on the health of children, also tend to have lower compensation. The reason for this discrepancy often comes down to the nature of the work—preventative and primary care specialties typically involve fewer high-risk procedures and have lower billing rates.



While the salary might be lower, these specialties often offer a better work-life balance, making them appealing for physicians who prioritize personal time over financial gain.



<h2 class="wp-block-heading">Which doctor has the highest salary in the future?</h2>



Looking forward, the specialties expected to <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/what-is-the-highest-paid-doctor-subspecialty/" target="_blank" rel="noopener">remain at the top of the pay scale </a>are those that address high-demand and specialized care.&nbsp;Highest paid medical specialties in the future&nbsp;are likely to continue to include fields like neurosurgery and orthopedic surgery. However, emerging fields such as interventional radiology and specialized oncologists are expected to see significant growth in demand, which could lead to higher salaries.



Interventional radiology, for example, involves using imaging techniques to perform minimally invasive surgeries. As technology advances and the demand for less invasive procedures increases, specialists in this field could see their compensation rise dramatically.



Oncology, particularly with advances in cancer treatment and personalized medicine, is another area where salaries could increase. As treatments become more specialized and complex, oncologists with expertise in cutting-edge therapies may command higher fees.



<h2 class="wp-block-heading">Which medical specialty has the best future?</h2>



While compensation is an important factor, physicians also need to consider the long-term prospects of their chosen specialty.&nbsp;Which medical specialty has the highest salary&nbsp;and which has the best future prospects may not always align, but in many cases, they do.



Specialties that incorporate technology and innovation, such as interventional radiology, and fields that address an aging population, such as geriatrics and orthopedic surgery, are expected to see strong growth. In addition, geriatrics is becoming increasingly important as the global population ages. While it may not be the highest paying field right now, it is likely to offer more opportunities in the future as demand rises.



Additionally, fields related to mental health, such as psychiatry, are experiencing greater demand as society becomes more aware of the importance of mental wellness. While psychiatry is not currently among the highest-paying specialties, its increasing demand and the push for better mental health care suggest strong prospects.



While neurosurgery and orthopedic surgery currently dominate the landscape in terms of compensation, emerging fields like interventional radiology and specialized oncology are poised to grow. On the other hand, primary care specialties may offer lower salaries but provide greater opportunities for work-life balance and personal fulfillment. When choosing a specialty, it’s essential to weigh both financial and personal goals to make the best decision for your career.



For more information about&nbsp;physician compensation&nbsp;and to explore options that might suit your goals, check out&nbsp;<a href="https://www.practicelink.com/resource-center/" target="_blank" rel="noopener">practicelink.com/resource-center</a>.

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Which-medical-specialty-has-the-highest-salary

Which medical specialty has the highest salary?

When it comes to<a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/physician-compensation-understanding-models-trends-and-specialties/" target="_blank" rel="noopener">&nbsp;physician compensation</a>, the financial rewards in the medical field can vary dramatically depending on a doctor&#8217;s specialty, experience and the healthcare environment. Certain medical specialties offer the highest earning potential, making them highly sought after by physicians seeking to maximize their income. But <a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/how-much-do-physicians-make-in-the-us-2024/" target="_blank" rel="noopener">which doctor makes the most money in 2024</a>, and what factors contribute to these higher salaries?



Let’s explore the top-earning medical specialties and what drives their compensation. By examining current trends and future projections, physicians can gain critical insights into which career paths could lead to the most lucrative opportunities.&nbsp;



<h2 class="wp-block-heading">What medical specialty makes the most money?</h2>



When we look at the&nbsp;<a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/highest-paid-medical-specialties-2024/" target="_blank" rel="noopener">highest paid doctors in 2024</a>, one specialty consistently stands out: orthopedic surgery. Orthopedic surgeons specialize in conditions involving the musculoskeletal system, performing complex surgeries such as joint replacements and spinal procedures. Orthopedic surgeons remain at the top of the compensation hierarchy due to the highly specialized nature of their work and the significant demand for their services.



In 2024, orthopedic surgeons can potentially earn well over $600,000 annually, with some reaching even higher earnings in private practices or high-demand regions. Other top earners include plastic surgeons and cardiologists. Plastic surgeons benefit from a growing demand for cosmetic and reconstructive procedures, while cardiologists are crucial in treating heart disease, which remains one of the leading causes of death worldwide. When you consider these factors, it’s not surprising both can command salaries in the $500,000 to $600,000 range.&nbsp;



<h2 class="wp-block-heading">What doctor is in the highest demand?</h2>



While the highest-paying specialties are lucrative, it’s also essential to consider demand when evaluating compensation. In 2024, primary care physicians, particularly those in family medicine and internal medicine, remain in high demand, due to an aging population and increased focus on preventative care.



According to the&nbsp;medical physician salary by specialty 2024, family medicine physicians may not be the highest earners, but they play a vital role in the healthcare system. Primary care doctors often serve as the first point of contact for patients, managing chronic conditions and coordinating care with specialists. The demand for these physicians has led to competitive salaries, especially in underserved rural areas where healthcare providers are scarce.



<h2 class="wp-block-heading">What is the lowest paid doctor?</h2>



On the other end of the spectrum, we have specialties associated with lower compensation. Pediatrics, for example, tends to have lower average salaries compared to surgical and procedural specialties. The&nbsp;physician salary by specialty 2024&nbsp;shows&nbsp;&nbsp;pediatricians, who focus on the health of infants, children and adolescents, earn salaries typically ranging from $200,000 to $250,000, which is significantly less than their peers in other specialties.



While pediatricians may not earn as much as surgeons or other specialists, many choose this field out of a passion for working with children and making a long-term impact on their patients&#8217; lives. It’s important to keep in mind the lower earning potential in pediatrics is often offset by more manageable work hours and a more predictable work-life balance compared to some high-stress specialties. For many physicians, this more balanced schedule is priceless!



<h2 class="wp-block-heading">Which doctor has the highest salary in the future?</h2>



Looking forward, the&nbsp;<a href="https://www.practicelink.com/resource-center/physician-contracts-compensation/which-doctor-has-the-highest-salary-in-future/" target="_blank" rel="noopener">highest paid medical specialties in the future</a>&nbsp;are expected to mirror current trends, with some shifts based on advancements in technology and evolving healthcare needs. Specialties like interventional radiology and neurosurgery are likely to remain at the top of the compensation scale due to their high skill demands and the complexity of the procedures involved.



As precision medicine and minimally invasive techniques continue to evolve, certain specialties will see increased demand and higher compensation. For example, specialties involving robotics-assisted surgery are expected to grow significantly, as these cutting-edge technologies allow for more precise, less invasive treatments. Physicians specializing in these areas may find themselves among the highest earners in the years to come.



While compensation varies widely among medical specialties, orthopedic surgeons currently lead the way as the highest-paid doctors in 2024. Other top earners include plastic surgeons, cardiologists and neurosurgeons. However, it’s important for physicians to also consider demand and future trends when selecting a specialty, as fields like family medicine and interventional radiology are expected to remain in high demand with competitive salaries.



Whether you’re just mapping out your career path or considering a specialty change that will steer you in a new direction, understanding the factors that drive&nbsp;physician compensation&nbsp;can help you make informed decisions.&nbsp;



Ready to explore your compensation potential?&nbsp;Visit the&nbsp;<a href="https://www.practicelink.com/resource-center/" target="_blank" rel="noopener">PracticeLink Resource Center</a>&nbsp;and find out how you can start the new year with more earning potential in 2024!



For the latest job postings for specialties in this blog, as well as many others, visit PracticeLink’s&nbsp;<a href="https://jobs.practicelink.com/jobboard/jobsearchresults" target="_blank" rel="noopener">physician job board.</a>



To read about the latest trends and explore the topics that directly affect those in healthcare field, view the latest issue of&nbsp;<a href="https://www.practicelink.com/magazine/" target="_blank" rel="noopener">PracticeLink Magazine</a>.

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