Geriatric Physician Salary Guide

The average annual geriatric physician salary is $226,886 per year in the U.S., according to a 2022 survey led by Franklin University.  Physician compensation has overall increased in recent years, as the demand for providers continues to increase. 

Locum tenens physicians can make upwards of $242 per hour on average, however, there are many factors that impact rates including location, years of experience, and the level of demand.

If you were to extrapolate that rate over a year (at 40 hours per week), the average locum salary comes out to around $503,360. 

That means locum tenens physicians can make up to 43% more than the average provider. However, making direct salary comparisons can be complicated. While perm physicians are more likely to be salaried, locum tenens physicians are independent contractors earning an hourly rate, which can vary based on which assignments they take in a year. 

Furthermore, because locum tenens physicians are paid by the hour, the hours they work are directly reflected in their pay, while a salaried physician’s additional hours may not be reflected in their salary.

Finally, paid time off and insurance may be reflected in the perm physicians salary structure, but locum tenens providers do have options when it comes to health insurance. 

This information can provide valuable insight into the possible annual compensation for locum tenens geriatric physicians. 

The most recent state breakdown of physicians salaries comes from the US Bureau of Labor Statistics, though the BLS was not able to collect enough data for all 50 states. While the BLS was unable to record data for geriatric physicians specifically, the top 5 highest paying states for physician salary are:

• Montana (Physician Salary of $239,200+)
• South Dakota  (Physician Salary of $239,200+)
• Wyoming  (Physician Salary of $239,200+)
• Indiana (Physician Salary of $274-330,900)
• Colorado (Physician Salary of $274-330,900)

This data can indicate the possible highest paying states  for geriatric physician salaries.

While geriatric physicians were not featured out of the 30+ physician specialties surveyed in the Medscape 2023 physician compensation report, they would fall in the bottom half of the group. The top five specialties (plastic surgery, orthopedics, cardiology, urology, gastroenterology) all reported annual income of greater than $500,000.

Physician salaries have been on the rise over the last several years, with a 17% increase in reported salary since 2018. A safe estimate is that physicians’ salary will increase roughly 3% yearly. Based on this information, the average geriatric physician will make around $233,692 in annual salary in 2024.