7 things to know about oncologists’ personal finances

Medscape gathered information from 17,461 doctors in 30 specializeds, consisting of oncologists, for the survey in between Oct. 4, 2019 and Feb. 10.

Oncologists in the U.S. make $377,000 on average each year, and a quarter of them are paying off trainee loans, a Medscape report shows.

Here are seven notes on the personal financial resources of oncologists:

1. Quarter of oncologists are still settling their student loans.

2. Fifty-nine percent of oncologists are paying off the mortgage on a main home, and about 20 percent have home loans of more than $500,000.

3. About 30 percent of oncologists have 3 to four charge card, while 22 percent have more than seven charge card.

4. Forty-eight percent of oncologists put more than $2,000 into a tax-deferred retirement or college savings account regular monthly.

5. Forty percent put more than $2,000 into a taxable retirement or college savings account each month.

6. 77 percent said they did not experience a financial loss last year, 14 percent stated they did face a financial loss due to bad financial investments in the stock market.

7. Thirty-nine percent of oncologists stated they work with a financial coordinator.

More posts oncology: How the pandemic will affect the future of cancer care: 3 specialists weigh inNovant Health opens $24M cancer institute44% of breast cancer survivors had care hold-ups in April, study programs


© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this material? View our policies by clicking here.