Orthopedic surgeons are among the highest-paid medical specialists and bring in a significant portion of hospital revenue each year.
Demand for these surgeons is set to spike in the coming years in line with an aging U.S. population and people trying to remain active longer. However, orthopedic surgeons could soon be in short supply, according to a 2021 Merritt Hawkins report.
Ten notes on orthopedic surgeon pay, revenue and other trends in the specialty:
1. The average annual pay for orthopedic surgeons is $511,000, the same as last year, according to Medscape's "Physician Compensation Report 2021."
2. The average revenue generated by orthopedic surgeons is $2.7 million.
3. On average, for hospitals, orthopedic surgeons generate $3.29 million a year in revenue, the fourth-highest of any specialty, according to Merritt Hawkins.
4. Average guaranteed income/base salary offered to orthopedic surgeons over the past six years was:
2020-21: $546,000
2019-20: $626,000
2018-19: $536,000
2017-18: $533,000
2016-17: $579,000
2015-16: $521,000
5. There are approximately 17,368 orthopedic surgeons in the U.S.
6. It is estimated that there will be about 24,350 orthopedic surgeons in the U.S by 2025, but a projected demand for 29,400 — representing a deficit of 5,050.
7. Fifty-eight percent of orthopedic surgeons are age 55 and older.
8. On average, orthopedic surgeons earn the highest incentive bonuses, taking home $116,000 on average each year.
9. Sixteen percent of orthopedic surgeons earn less than 1 percent of their annual incentive bonus, according to Medscape.
10. Forty-two percent of surgeons expect to return to pre-pandemic income levels this year, while 41 percent anticipate reaching normal levels in two to three years.