Staffing & Compensation
Updated: March 10, 2023
Overall healthcare hiring rose in February, but increases in December and January were revised to be less than initially reported. Hiring by hospitals remained strong, but some sectors like Other Ambulatory Health Care Services and Residential Mental Health Facilities reported slight declines.
The pay gap between CEOs and other executives has grown from around $500,000 in 2012 to $900,000 in 2022. Overall, CEO compensation increased by 71.52% during that time. There was minimal change between 2020 and 2021.
Median physician compensation across all specialties is $433,066. Those in orthopedic, invasive cardiology and plastic surgery practices receive the highest compensation, on average, ranging from $400,000 to $700,000 annually, while those practicing pediatric and family medicine make the least, between $230,000 and $300,000 a year.
Nursing and residential care facilities have around 318,000 fewer workers than they did pre-pandemic, while hospitals have 28,600 more employees.
Overall Healthcare Employment
Seasonally adjusted total, in thousands
Employment by Healthcare Sector
Seasonally adjusted total by month (Numbers are in thousands)
Understanding the Data
For more than a decade, Modern Healthcare has surveyed firms who collect information about compensation for a variety of specialites. For each speciality a firm tracks, they report the average compensation.
Not all firms participate each year, nor do they always track every speciality. Additionally, some new specialites of note, such as Infectious Disease Specialist, have been recently added and data may not be available for all years.
Physician Compensation Database
Source: Modern Healthcare's annual physician compensation survey.
Healthcare Occupations Highlights
Percentage change, 2020-2021
Executive Compensation, Health Systems
Average total compensation for key positions. ($ in thousands)
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