A new study in JACR confirms what many radiologists have suspected: salary growth for private-practice radiologists has lagged inflation over the last 10 years. While there were a few bright spots, the study mostly shows that radiologists are working harder for less pay.
Radiology has long been one of the better-compensated medical specialties, often landing in the top 10 of disciplines with the highest average annual compensation.
- But radiology has also been a target for reimbursement cuts by the U.S. government as it tries to shift more Medicare and Medicaid payments to primary care practitioners.
As a result, previous studies have found that payments per Medicare beneficiary in radiology have actually declined.
- And another 2.83% cut is on the docket for 2025 unless Congress steps in before the end of the current legislative session to prevent cuts in the 2025 Medicare Physician Fee Schedule.
The new study analyzes radiologist compensation based on MGMA salary survey data from 2014 to 2023.
- Researchers compared salaries for both diagnostic and interventional radiologists, and also between private-practice and academic radiologists.
Based on the data, they found …
- Diagnostic radiologists saw median total compensation grow over the survey period, but at a faster rate for academic radiologists (32% vs. 18%).
- Academic radiologists enjoyed faster annualized salary growth (3.2% vs. 1.9%) and had an edge after adjustment for inflation (+0.3% vs. -1%).
- Work RVUs (a measure of productivity) also grew but at a slightly higher rate for academic radiologists (21% vs. 20%).
- Interventional radiologists saw higher salary growth for both non-academic and academic physicians (41% and 35%).
The findings indicate that the traditional salary gap between private-practice and academic radiologists may be narrowing.
- The growth in wRVUs in a time of stagnant or declining salaries after inflation adjustment may confirm the suspicions of both types of radiologists: that they are working harder for less pay.
The Takeaway
The findings could be a gut punch for private-practice diagnostic radiologists, who are finding that their salary gains aren’t keeping pace with inflation (sound familiar?). They also suggest that academic radiology could offer a refuge from the market and government forces that are reshaping the private sector.
