49% of radiologists have net worth of at least $2M
Forty-nine percent of radiologists have a net worth of $2 million or more, according to a new report published by Medscape. The report, “Medscape Physician Wealth and Debt Report 2019,” included survey responses from more than 20,000 physicians representing dozens of specialties. Four percent of respondents were radiologists.
Radiology’s 49% is higher than all other specialties, though it is tied with two others—plastic surgery and orthopedics—at the top of that ranking. Gastroenterology comes in at No. 2 with 46%, and cardiology and urology tied for No. 3 with 45%.
Overall, 49 percent of respondents said their net worth was less than $1 million, 44% said it is was $1 million to $5 million and 7% said it is more than $5 million.
Sixteen percent of radiologists have a net worth of more than $5 million. Gastroenterology has the highest percentage in this case with 20%, and dermatology comes in at No. 2 with 19%.
The survey also revealed that 16% of radiologists have a net worth under $500,000, tied with gastroenterology for the lowest percentage of any specialty. Cardiology and orthopedics tied for 18%, the second-lowest percentage.
In addition, 19% of radiologists are still paying off school loans, one of the lowest overall percentages. And 39% percent of radiologists have mortgages over $500,000, a step below the two specialties at the top of the list, dermatology (51%) and ophthalmology (48%).
These were some other noteworthy statistics from Medscape’s report:
- While 33% of physicians say they “have never made a particular investment mistake,” 30% say they have invested in a stock or company that “turned out badly.”
- Just 7% of physicians live above their means, and 41% say they live blow their means.
- Mortgage (65%) and car loan payments (38%) are the two most common expenses or debts physicians are currently paying off.
“Today’s financial picture for physicians shows both highs and lows,” according to the report. “Some doctors are stockpiling savings while others are struggling to pay off debt and live and comfortable lifestyle.”
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.