Despite the fact that U.S. health costs are among the highest in the world, its physicians are among the lowest paid of the major western nations (relatively speaking).
Despite the fact that U.S. health costs are among the highest in the world, our physicians are among the lowest paid of the major western nations, according to a survey. In a manner of speaking, at least.
The 2011 Physicians Compensation Survey by Jackson Healthcare revealed that of the total health care costs in the U.S., physicians only accounted for 8.6%, or $216 billion of the $2.5 trillion spent on health care.
Copyright Jackson Healthcare
However, the $216 billion that American physicians are paid is much more than the total salaries of the next country, Germany.
Germany’s physicians are paid the largest percentage of a country’s total health care expenditures. Their $46 billion accounts for 15% of the country’s $306 billion of costs in 2011.
Germany was followed by Australia, France, and the United Kingdom. Of western nations with a modern health care system, only Sweden spent less (8.5%) on overall health care costs.
“As we continue to debate how to reform health care, many often blame physicians’ salaries for driving up the cost of health care,” said Richard L. Jackson, chairman and CEO of Jackson Healthcare. “What this illustrates is that the compensation for American doctors is not what is driving up health care costs in our country.”