The median compensation earned by physicians in the third quarter was $358,753, up $7,253 compared to the same period last year, according to data from Kaufman Hall.
This rise does not keep pace with the rate of inflation, which increased the all-items consumer price index, a measure of economy wide inflation, by 3.7% from September 2022 to 2023, according to the Agriculture Department.
The "Physician Flash Report" for 2023 analyzed data from more than 200,000 employed physicians and advanced practice providers across more than 100 specialties from a range of practices over the last three years.
In the report, median physician compensation does not include accrued incentives.
Below is the median compensation earned by physicians since the third quarter of 2021:
2021
Q3: $330,780
2022:
Q3: $351,500
Q4: $347,484
2023:
Q1: $352,685
Q2: $355,811
Q3: $358,753