Physician Specialties Generating the Most Revenue for Hospitals
The COVID-19 pandemic has affected many industries across the nation.
In healthcare specifically, its put much strain on both providers and organizations as they try to meet the demands of COVID-19. Not only are they overloaded as they try to treat as many patients with Coronavirus, but they are also facing economic losses due to cancelled services.
In fact, according to the American Hospital Association, hospitals are losing more than $50B per month and are estimated to lose approximately $200B between March 1st and June 30th. The revenue losses primarily come from the steep decline in patient volume and cancelled services (such as non-elective surgeries and outpatient treatments) – forcing hospitals and other physician groups to implement cost-cutting measures, furloughs and layoffs.
Here are 10 physician specialties with the highest average annual net revenue for hospitals:
1. Cardiovascular Surgery
Average Annual Net Revenue of $3.7M and Salary of $425K
2. Neurosurgery
Average Annual Net Revenue of $3.4M and Salary of $687K
3. Cardiology (Invasive)
Average Annual Net Revenue of $3.4M and Salary of $590K
4. Orthopedic Surgery
Average Annual Net Revenue of $3.2M and Salary of $533K
5. Gastroenterology
Average Annual Net Revenue of $2.9M and Salary of $487K
6. Hematology/Oncology
Average Annual Net Revenue of $2.8M and Salary of $425K
7. General Surgery
Average Annual Net Revenue of $2.7M and Salary of $350K
8. Internal Medicine
Average Annual Net Revenue of $2.6M and Salary of $261K
9. Cardiology (Non-Invasive)
Average Annual Net Revenue of $2.3M and Salary of $427K
10. Pulmonology
Average Annual Net Revenue of $2.3M and Salary of $418K
For more on physician specialties and compensation, check out our physician jobs resource.