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NYT: Physicians are biggest sector of wealthiest 1%

One in five physicians belongs to top earners cohort

Topics: Physician Issues, Compensation, Labor Expense, Workforce

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January 18, 2012

Physicians are more likely than any other profession to be in the United States' wealthiest 1%, the New York Times reports.

Altogether, members of the wealthiest 1% earn at least $380,000 per year and account for nearly 20% of pre-tax income in the United States. The so-called 1% pays over 25% of federal taxes and accounts for 30% of philanthropic giving.

According to the Times, one in five physicians is in the wealthiest 1%. Specifically:

• 27.2% of physicians working in physicians' offices and clinics are in the 1%;
• 20.7% of physicians working in "health services" are in the 1%;
• 19% of physicians working for colleges and universities are in the 1%; and
• 17.2% of physicians working in hospitals are in the 1%.

The Times also notes that 3,519 CEOs or administrators in the health industry belong to the 1%, which accounts for about 13.6% of health care chief executives (Dewan/Gebeloff, Times, 1/14).

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