Physician shortages and shifting dynamics in the healthcare landscape are making Hospitalists in-demand specialists. This demand is also creating a variety of positive trends that are advantageously positioning these Physicians to benefit on several professional fronts.
- Positive Job Forecast- Hospitalists have some of the highest expected growth rates amongst all the medical specialties. By 2030, the Hospitalist profession is expected to grow by 26%1. Forecasts project that future demands for this profession will require an additional 7200 Hospitalists to meet the required needs1.The southern region of the U.S. is expected to be a hot bed for future hiring efforts as their needs will be greatest1.
- A Top Recruited Specialty- Increasing demands for Hospitalists around the country have made these Physicians the most frequently placed specialists, according to the results of The Medicus Firm’s 2019 Physician Placement Summary. Between 2016-2018, Hospitalist demand moved these Physicians up to the top spot amongst specialty placements.
- Increasing Compensation- According to the results of the 2019 Today’s Hospitalist Compensation & Career Survey, the average reported salary for a Hospitalist Physician hovers around $295,000 a year and has steadily been on the rise. This compensation often encompasses both salary and productivity incentives, with an average bonus/incentive amount totaling around to $36,000 annually2. This places Hospitalist Physicians far above the average Physician salary of $208,000 annually3.
- Salary-Only Hospitalist Employment Options- Hospitalists looking for salary-only opportunities should look to the Midwest and Academic Institutions for employment. According to Today’s Hospitalist survey results, academic Hospitalists are far more likely to receive total compensation via salary versus nonacademic Hospitalists. There is also a notable trend regarding practice location amongst these salary-based Hospitalists, with 42% reporting a Midwestern practice locale2.
- Salary Satisfaction- Hospitalists are generally satisfied with the level of compensation they receive for the services they provide. According to the MedPage 2019 Hospitalists Salary Survey, 59% of Hospitalists report feeling satisfaction regarding their salaries4.
- Increasing Work Outside the Hospital- An increasing number of Hospitalist Physicians are providing their services in alternative settings, with specialized facilities and post-acute care units topping the list. Nearly a quarter of Hospitalists report practicing in such an alternative setting5.