While a specialty in Physical Medicine and Rehabilitation (PM&R) is a highly fulfilling career, compensation is a significant consideration. New physiatrists or established professionals searching for a new position need accurate information regarding salary potential and the factors that can influence compensation.
How Much Does a Physiatrist Make?
Physiatry is a growing field, and health care facilities need more specialists who can lead rehabilitation efforts and determine the type of treatment needed to address physical, occupational and mental health needs. Beyond having a medical degree, physiatrists spend years honing their skills to earn their certification.
With this extent of dedication, your education and experience should come with comparable compensation. So, let's explore the current physiatry salary landscape.
Average Physiatrist Salary in the U.S.
Physiatrists earn approximately $305,000 on average in the United States. Compensation in physiatry ranges from the bottom 10% of people just starting their careers- who make about $147,000, to the top 10%- who make as much as $635,000.
Many factors influence a physiatrist's pay. Those who focus on PM&R subspecialties tend to earn more. For example, physiatrists specializing in pain management can perform advanced treatment techniques, increasing their overall salary potential. Other considerations that impact earnings include:
- Years of experience.
- Performance or production.
Physiatry Compensation by State
Location is one of the main factors influencing how much physiatrists can expect to make. Looking at the national average can be misleading, as there are distinguishable variations from region to region, often due to the cost of living.
Another major reason for the pay fluctuation is recruitment. In areas where it may be difficult to enlist qualified applicants, employers tend to pay more to entice physiatrists. Rural areas often offer surprisingly higher wages than their metro counterparts. Here is a breakdown of physiatrist salaries by region and state.
Factors That Can Influence a PM&R Doctor's Salary
Whether beginning your career as a physiatrist or negotiating a new position, there are many factors you should consider before signing the dotted line. It's reasonable to ask how much you will make in your first year and the following years as your skills and experience grow.
Let's discuss some important points that can influence your salary negotiations.
Fixed Salary vs. Production-Based Salary
Your financial compensation could be a fixed salary, a production-based salary or a combination of both. A fixed salary is an agreed-upon yearly income that remains constant. Production-based earnings are tied to the revenue you bring in for the group.
A production-based salary has the potential to exceed a fixed salary. However, there will be times that are considered non-productive despite being necessary for operating the practice.
Benefits Beyond Compensation
Many physicians focus on compensation. However, it's also important to consider the benefits a practice or company is offering. When everything is tallied, a lower salary but excellent benefits could outdo a position with a higher salary. Benefits that enhance clinical efficiency, provide operational support, and ensure compliance are all important and impactful considerations.
Explore Careers in Physiatry With Medrina
As you navigate the world of physiatry, partnering with Medrina can help guide your career decisions. We are the nation's largest physiatry group. Expand your career horizons with Medrina by contacting us today.