Medscape has published its "Physician Debt and Net Worth Report 2020" and "Physician Compensation Report 2020," shedding light on the economic situation for physicians in more than 20 specialties.
Between October 2019 and February 2020, 17,461 physicians responded to the surveys.
Twelve insights on orthopedic surgeon debt, net worth and compensation:
1. Nineteen percent of orthopedic surgeons reported having a net worth of more than $5 million, the highest of any specialty.
2. In terms of compensation, orthopedic surgeons topped the list with an average annual income of $511,000.
3. Orthopedic surgeons earned the highest incentive bonuses, taking home $96,000 on average each year.
4. Compensation rose 6 percent from 2019 to 2020 for orthopedic surgeons.
5. Only 11 percent of women physicians specialize in orthopedics, up just 2 percent from 2015.
6. Orthopedic surgeons reported spending 13.7 hours per week on administrative work, the eighth lowest of any specialty.
7. Sixty percent of orthopedic surgeons reported being fairly compensated for their work.
8. Orthopedic surgeons reported having about 18 percent of their claims denied.
9. Twenty-eight percent of orthopedic surgeons are still paying medical school debt.
10. Plastic surgeons and orthopedic surgeons topped the list for specialists with homes of more than 5,000 square feet. They tied at 22 percent.
11. Twenty-two percent of orthopedic surgeons had a mortgage of over $500,000.
12. When asked if they would choose the same specialty again, 97 percent of orthopedic surgeons said yes.