As a physiatrist, you can expect a lucrative annual salary that typically ranges from $150,000 to $350,000, depending on several factors such as experience, education, and care setting. However, understanding the physiatrist salary landscape requires you to examine job descriptions, education and certification requirements, compensation packages, data on earnings, and medical specialties pay comparisons. Below are some key considerations that can help guide you to find the right career path.
What is a Physiatrist?
Education and Job Description
A physiatrist is a physician specializing in physical medicine and rehabilitation. They focus on treating patients with functional impairments and disabilities caused by various diseases, injuries, or conditions, such as stroke, spinal cord injury, traumatic brain injury, multiple sclerosis, cerebral palsy, amputation, chronic pain, and musculoskeletal disorders. Their goal is to help patients achieve the highest possible level of physical, mental, and social functioning using non-surgical interventions such as exercise, physical modalities, assistive devices, medications, and psychological support.
To become a physiatrist, you’ll need to complete an undergraduate degree, four years of medical school, and four years of residency training in physical medicine and rehabilitation. You may also pursue a fellowship program to specialize in a certain area of practice such as sports medicine, pediatric rehabilitation, pain medicine, or spinal cord injury.
Physiatrist Salaries by Care Setting
The average physiatrist salary can vary by the care setting in which they practice. According to available sources, physiatrists working in academic or research-oriented hospitals tend to earn higher salaries than those practicing in private practices or non-profit organizations. For instance, the average annual salary for a physiatrist working in an academic physiatry department in the United States as of 2022 was about $238,076 per year, while the average salary for those working in a private practice was about $231,856 per year.
Additionally, a physiatrist working in a geographic area with higher than average demand for these professionals may earn higher salaries than those working in less populated areas, due to a competitive job market.
How Do Physiatrist Salaries Compare to Other Medical Specialties?
Physiatrists make an average salary that varies based on comparison to other medical specialties. Studies have shown that physiatrists typically earn salaries similar to, or even higher than, those of other primary care physicians. According to the Medscape Physician Compensation Report 2021, the average annual salary for physiatrists was $280,000, compared to $268,000 for family medicine physicians and $221,000 for pediatricians, for example.
What is the Average Physiatrist Salary?
What is Salary Based on for Physiatrists?
The salary estimates range among physiatrists based on various factors, including years of experience, geographic region, care setting, and specialty or subspecialty certification. Additionally, the extent of therapy provided, the number of patients seen per day, and hourly rate can affect a physiatrist’s total compensation.
What is the Average Annual Salary for a Physiatrist in the United States?
Based on recent reports, the average annual salary for a physiatrist in the United States ranges between $150,000 to $350,000. Specific data on actual annual salaries for physiatrists depend on available sources and national or local industry standard reports on healthcare compensation.
What is the Range of Physiatrist Salaries?
The actual salary range for physiatrists varied between the low, average, and high range with most patients earning commensurate to their experience and expertise. According to the National Rehabilitation Association (NRA), physiatrists with more experience or subspecialty certification may earn in the range of $300,000 or more annually, while new graduates or non-certified professionals may earn less than $200,000 annually.
How Do Physiatrist Salaries Compare to Other Healthcare Jobs?
How Does a Physiatrist’s Pay Compare to Other Medical Specialties?
The pay scale for physiatrist compares favorably with other medical specialties. According to data released by the Bureau of Labor Statistics, a physiatrist falls under the category of physician and surgeon, which has an average salary of $208,000 per year as of May 2022. Physiatry is often distinguished from other primary care specialties by a greater focus on diagnosing and treating musculoskeletal and neuromuscular disorders, and by a closer partnership with physical therapy and occupational therapy groups.
What is the Average Compensation Package for a Physiatrist?
Average total compensation package for physiatrists can be in the $300,000 to $350,000 range or higher based on geographic area and setting. In addition to base salary and hourly rate factors, physiatrists often receive benefits such as paid time off, health insurance, malpractice insurance, retirement plans, workplace bonuses, and professional development allowances.
Which Care Setting Offers the Highest Pay for Physiatrists?
The highest pay in terms of care settings for physiatrists as per latest data, is often observed in rehabilitation hospitals, academic medical centers, and large private practices. However, other factors such as community demand and metropolitan location may also impact the salary level for physiatrists working in these settings.
What are the Different Components of Physiatrist Compensation Packages?
Base salary is a primary component in a physiatrist’s compensation package. It typically reflects the geographical cost of living, provider demand, and level of experience and certifications earned. The average base salary of a physiatrist in the United States is around $234,500 per year, with a salary range of $185,500 to $293,000 per year, depending on the care setting.
The total compensation package for physiatrists can include salary, bonuses, benefits, and other allowances, such as a professional development allowance, relocation allowance, or CME reimbursement. The average total compensation package for a physiatrist in the United States ranges between $300,000 to $350,000 per year or more based on experience, care setting, and geographic location.
Plus Factors that Can Affect Physiatrist Compensation
There are several plus factors that can affect a physiatrist’s compensation, including specialty subspecialty certification, number of patients seen per day, working hours, geographic location, and care setting. For example, a physiatrist certified in pediatric rehabilitation may receive higher compensation levels than one who isn’t. Additionally, physiatrists in private practices may be able to earn more by seeing more patients per day and working more hours than those in academic or research-oriented settings.
What is the Future Outlook for Physiatrist Salaries?
What Does the Trend Look Like for Physiatrist Salaries?
The growing demand for physiatrists, combined with an aging population suffering from medical conditions requiring rehabilitation, has led to an optimistic outlook for physiatrist salaries. According to recent reports, the physiatry profession is expected to grow 11.2 percent between 2018 and 2028, which will contribute to the increase in job opportunities and earning potential.
What New Factors May Affect Physiatrist Salaries in the Future?
The current health care system has brought several changes and challenges to healthcare professionals, including physiatrists. Of late, physiatrists have been looking to adapt to the shift from fee-for-service to value-based care and increased use of telemedicine. These changes may pose new opportunities for physiatrists to earn bonuses or to explore new business models.
What Will the Average Physiatrist Salary Be in 2023?
The average physiatrist salary is expected to be higher by 2023. As the trend of physiatry growth continues to increase, the salaries for physiatrists are also expected to increase by then. This projection depends on several future factors such as healthcare policy changes, technological advances, and economic fluctuations.
Overall, physiatrists can expect to earn a competitive salary, receive an attractive compensation package, and enjoy long-term career growth opportunities in several care settings, such as rehabilitation hospitals, academic medical centers, and private practices. If you’re ready to learn more and explore the field of physiatry, there are several online and clinical resources to guide you.