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Total physician compensation grew about 3% across the US in the last year. And orthopedics secured the top spot as the highest-paid medical specialty, with average self-reported earnings totaling $558,000 annually. However, these figures can vary widely based on several factors. So, at the end of the day, how much do Orthopedic Surgeons make? Let's do a deeper dive.
Orthopedic Surgeons rank among the top earners in healthcare, reflecting both the extensive training required and the critical role they play in patient care. Orthopedic surgery encompasses a range of procedures that address musculoskeletal issues. This specialty not only requires years of dedicated training but also deals with a patient population that spans all ages and levels of activity, making the job both challenging and rewarding. The financial compensation for each Orthopedic Surgeon is subject to several variables that can significantly alter potential earnings.
Like most medical specialties, salary increases markedly with experience. Newcomers to the field can expect to start around $400,000 annually, while seasoned professionals may earn upwards of $700,000.
The setting in which you practice significantly influences your income. Orthopedic Surgeons in private practice groups generally earn more than their peers in hospitals or academic settings. This discrepancy is due to the profit-sharing models and additional revenue opportunities available in private practice, such as surgery center ownership and ancillary services.
Your practice location plays a critical role in determining salary. For instance, Orthopedic Surgeons in states like New York, California, and Massachusetts typically earn more than those in Alabama, Missouri, and Arkansas. However, high-demand areas might not always offer higher salaries. Sometimes, less populated regions provide more competitive compensation and recruitment incentives due to lower supply of specialized physicians.
Income varies across different orthopedic subspecialties. Spine surgeons and sports medicine specialists often command higher base pay due to the complexities and high demand of their expertise.
Median salaries from The Journal of Bone and Joint Surgery:
Orthopedic surgeons' earnings also reflect regional trends. For example:
In the Western U.S., the median salary stands at $514,812.
The Eastern U.S. sees a higher median of $589,055.
Southern U.S. has a median salary of about $655,429
Salaries peak in the Midwestern U.S. at $702,480, underscoring the region's high demand for healthcare services.
Interestingly, less populated metro areas sometimes offer higher salaries than larger cities; considering the area's demand and current census of Orthopedic Surgeons can often be a strategic choice for maximizing income.
The volume and complexity of the procedures you perform can significantly impact your earnings. High-volume surgeons or those specializing in complex surgeries tend to have higher incomes, reflecting the direct link between the skill level required and compensation.
Orthopedic surgeons working in hospital/IDS-owned organizations have the highest median salary at $661,923, while those in physician-owned practices see a lower median at $487,419. Specialization also plays a role. Single specialty practices offer a $655,429 median salary where multispecialty practices offer a $618,604 median salary.
From residents earning around $100,000 annually to seasoned professionals pulling in upwards of a million dollars, the trajectory of an Orthopedic Surgeon's earnings is steep. Transitioning through different stages of your career effectively can influence your financial outcomes substantially.
Selecting a high-paying subspecialty like spine surgery or sports medicine can greatly enhance your earning potential. These fields not only demand specialized skills but also compensate well for the expertise required.
Where you choose to practice can significantly affect your salary. Opting for high-demand, less-saturated markets can lead to better compensation packages. Additionally, considering relocation to areas known for high salaries, like certain parts of the Midwest, can be a strategic move.
Locum tenens positions offer a unique opportunity to test different regions and practice settings without long-term commitments. These roles often come with competitive rates and allow you to experience various work environments, helping you decide where and how you might want to practice permanently. This flexibility can be particularly appealing for those looking to balance a high-income potential with lifestyle preferences.
Through locum tenens work, surgeons can experience a variety of healthcare environments, assess demand for their subspecialties, and determine the best areas for higher income potential. This flexibility is ideal for balancing professional aspirations with personal lifestyle preferences. For instance, surgeons can practice in high-paying areas while residing in regions that offer a better quality of life, effectively managing both income and living standards.
Furthermore, locum tenens roles enable Orthopedic Surgeons to position themselves in markets where their skills are most needed, often resulting in higher earnings and professional growth opportunities. This approach not only provides financial benefits but also broadens clinical experience and expands patient care.
If you’re an Orthopedic Surgeon considering the next steps in your career or looking for ways to diversify your experience and income, Caliber can help. Working with Caliber allows you to access a wide range of locum tenens opportunities that match your expertise and career goals. Contact a Caliber recruiter today to explore how we can help you strategically navigate the dynamic field of orthopedic surgery and achieve both your professional and personal objectives.
