Personal incomes dropped among a significant minority of primary care physicians, one reason that's causing them to reevaluate continuing their small practices, according to a survey from Physicians Practice. Almost 21 percent of survey respondents reported that their incomes dropped by more than 10 percent compared with 2011.
Information was gathered about personal income, practice overhead, practice outlook, and other financial issues from physicians in a variety of specialties—including primary care and pediatrics.
Almost 40 percent of primary care physicians and most pediatricians make less than $150,000 a year. Though seemingly a comfortable salary still, the majority—at 60 percent—pay between $15,000 and $30,000 annually for malpractice insurance. These physicians have taken steps to boost their revenues, including taking on work outside their practice.
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