In this article, we will look at the 5 least competitive medical specialities in America. We have also discussed the state of the healthcare industry in the US in another article. If you are interested in reading about that along with a more extensive list, head straight to the 15 Least Competitive Medical Specialities in America.
5. Pathology
Average US Senior Score: 229
The Occupational Employment and Wage Statistics (OEWS) data for Physicians, specifically Pathologists, as of May 2022 reveals notable figures. Nationally, there were 12,320 employed with a mean hourly wage of $121.56 and an annual mean wage of $252,850. The industry profile highlights that the highest levels of employment were in the Offices of Physicians, with 4,500 jobs and an hourly mean wage of $127.77. Medical and Diagnostic Laboratories followed closely with 3,550 jobs and an hourly mean wage of $140.07. Pathologists in Outpatient Care Centers had the highest mean hourly wage at $185.17 and an annual mean wage of $385,160.
4. Child Neurology
Average US Senior Score: 228
In the United States, a 20% shortage of child neurologists raises concerns, with up to 8 months of wait times for appointments at Joe DiMaggio Children’s Hospital. 1 in 36 children diagnosed with autism is contributing to the demand. Pediatric neurologists manage chronic conditions which require long-term care and hospitals are addressing the issue through solutions like on-set seizure clinics, Saturday slots, and emergency openings.
3. Pediatrics
Average US Senior Score: 226
According to the BLS, in May 2022, there were 33,430 paediatricians in the US, with a mean annual wage of $203,240. The highest employment was in physicians’ offices (22,780), offering an hourly mean wage of $102.52. Among states, New York had the highest employment level (4,940) and mean wage ($191,970). Vermont had the highest location quotient, indicating concentrated employment of paediatricians. The top-paying industry was local government (excluding schools and hospitals) with an hourly mean wage of $113.87. Metropolitan areas with high employment included New York-Newark-Jersey City, and the highest-paying metro area was Des Moines-West Des Moines, IA, with an annual mean wage of $288,380.
2. Psychiatry
Average US Senior Score: 226
The United States faces a critical shortage of psychiatrists, exacerbated by the COVID-19 pandemic. In 2019, 51.5 million Americans had mental illnesses, a number that increased during the pandemic, with 40% of adults reporting anxiety or depression symptoms. However, over 150 million people live in federally designated mental health professional shortage areas. The projected shortage of psychiatrists within a few years is between 14,280 and 31,109. Factors include population growth, pandemic-induced mental health needs, insufficient residency slots, and a retirement drain, as 60% of psychiatrists are aged 55 or older. The average salary for a Psychiatrist is US$255,943 per year in the United States.
1. Family Medicine
Average US Senior Score: 222
Family medicine in the United States is a primary care specialty that provides comprehensive healthcare for individuals and families of all ages, addressing a wide range of diseases and conditions. Family physicians, also known as family doctors, must hold either an M.D. or D.O. degree and undergo a three or four-year family medicine residency. Certification by the American Board of Family Medicine or the American Osteopathic Board of Family Physicians is typically required. The specialty focuses on a holistic approach, with special attention to disease prevention, health promotion, and continuity of care within the family and community context. The average salary for a Family Medicine Physician is $277839 per year in United States. It is the least competitive medical speciality in America.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a peek at 22 Medical Schools with the Highest Acceptance Rates in America and 22 Highest Paid Medical Specialties in the World.