Orthopedic surgeons have the highest average starting salary among physicians and advanced practice professionals.

That’s according to the latest “Review of Physician and Advanced Practitioner Recruiting Incentives” from Merritt Hawkins, an AMN Healthcare company. The review which tracks physician and advanced practitioner starting salaries, signing bonuses and related incentives, and examines current physician and advanced practitioner recruiting trends.

Here are the top average starting salaries:

• Orthopedic surgeon - $565,000
• Cardiologist (interventional) - $527,000
• Urologist - $510,000
• Gastroenterologist - $486,000
• Cardiologist (non-inv.)  - $484,000
• Radiologist - $455,000

Rising Demand for Physician Specialists Raising Pay 

Overall, physicians' starting salaries have increased over the last year, as demand for physicians has risen since the peak of the COVID-19 pandemic. 

“Demand for physicians, and the salaries they are offered, have rebounded dramatically from the height of COVID-19,” Tom Florence, president of physician permanent placement for AMN Healthcare, said in a statement. “Virtually every hospital and large medical group in the country is looking to add physicians.”

Specifically, gastroenterologists, orthopedic surgeons, oncologists, pulmonologists, neurologists and psychiatrists are in high demand, according to the review. However, demand for primary care physicians, including family physicians and internists, has fallen compared to last year. AMN revealed 64% of search engagements were for medical specialists, compared to 17% for primary care physicians. 

“The market has done a complete about-face,” Florence said. “Several years ago, primary care physicians were the priority for most hospitals and medical groups. While many still seek them, the emphasis has shifted to specialists.”

That trend reversal is likely due to an aging population needing more specialists to care for ailing internal organs, musculoskeletal conditions and neurological problems. For the first time in U.S. history, there will be more seniors in the U.S. than children 17 and under by 2023, according to U.S. Census Bureau data. Seniors account for just 15% of the population, but 37.4% of diagnostic tests and 34% of inpatient procedures, according to the Centers for Disease Control (CDC), as well as twice the number of annual physician visits than younger patients.

At the same time, much of the care provided by primary care physicians is also covered in other healthcare settings, such as urgent care, retail clinics and telemedicine. Among search engagements, nurse practitioners (NPs) were at the top for the second year in a row. This result also underscores the shift from traditional doctor’s offices to other care settings where these services are also offered. Additionally, these settings are competitors hiring away staff from traditional offices. 

Chronic conditions are also impacting demand, as 6 in 10 Americans have a chronic illness, such as heart disease or diabetes. Plus, 4 in 10 have more than one chronic condition.