Pediatric Subspecialists Experience Increased Demand for Services
by Tina L. McNealey, Carson Kolb Healthcare Group
It has become apparent that demand for pediatric subspecialists is continuing to increase. There are numerous reasons for this, including:
- Educated consumers who are more insistent upon specialists for treatment
- Increased obesity rates among children, increasing need for certain specialties (i.e., pediatric endocrinologists)
- Fellowship programs not meeting the need of the "Echo Boomers," otherwise referred to as Generation Y (children born between 1981 – 1995)
This market shift has encouraged many general pediatric residents to pursue pediatric subspecialty training. Unfortunately, the number of subspecialty training slots has not adequately increased during this last decade of transition, leaving an augmented need for subspecialists without an adequate supply.
As a result of this shortage, incomes have grown, outpacing many other medical specialties. According to the MGMA Physician Compensation and Production Surveys from 2005 and 2006, based on 2004 and 2005 data respectively, pediatric subspecialists are reaping the rewards of heightened demand with a precipitous increase in compensation across the board. See the sampling of income medians for several pediatric subspecialties in the example below.
Specialty Median Income (2005) Median Income (2006) Pediatrics (General) $161,331 $167,158 Ped-GI $200,000 $230,315 Ped-HOS $140,000 $148,118 Ped-Neuro $167,200 $203,240 Ped-Surgery $320,596 $405,122 Surgery (General) $282,504 $300,800
Of note is that in comparison to adult specialists who traditionally earn more than their pediatric counterparts, the surveys reflect that pediatric surgeons actually earn more than adult surgeons. Moreover, the steep increase in pediatric surgery compensation between the two years in review showcases the effects that supply and demand can have on overall physician income.
Recruiters experience the pains of their clients when seeking out quality physician candidates on their behalf. Statistically, we have found the pool of pediatric surgeons dismal at best, due to the incredibly high demand, with nearly one in four practices seeking additional surgeons. In addition, pediatric gastroenterologists and pediatric neurologists, particularly epileptologists, have proven challenging to source with more opportunities than physicians available in the marketplace. The good news for fellows completing their training is that the demand for their expertise remains high.