Medical practitioners that specialise in fertility-related problems, therapies, and interventions for both men and women are known as fertility specialists. They are also known as reproductive endocrinologist. Let us know about the ‘Salaries For Fertility Doctor’.
These experts extensively assess patients to identify the underlying causes of their infertility, but they also provide a wide range of treatment choices to give each patient the chance to become the parents they were meant to be.
Job of a reproductive endocrinologist
- This job requires evaluating patients, requesting lab tests, finding out about their medical history, and prescribing drugs.
- Reviewing patients’ individual and family histories.
- A fertility doctor, unlike most medical professionals, also does surgical procedures like Hysteroscopy, abdominal myomectomy, in vitro fertilisation, and laparoscopy to name a few.
- Providing lifestyle and medical recommendations to complement treatment.
Infertility can be treated by reproductive endocrinologists using surgery, medication, or other methods. They must identify the cause of the issue before developing a treatment strategy. For example, they might:
- Verify your thyroid and blood sugar levels.
- Perform a semen test.
- To check for issues, order an X-ray of the fallopian tubes and uterus.
- An ovarian reserve fertility test can be used to determine the level of different hormones involved in reproduction, including:
- Estradiol, an anti-Müllerian hormone, and a follicle-stimulating hormone
Fertility Doctor Industry
How does someone become a board certified fertility specialist?
The process of becoming a board-certified reproductive endocrinologist is very labour-intensive. In actuality, it entails a number of processes and years of training. A four-year medical education Obstetrics and gynaecology residents train for four years.
Reproductive endocrinology and infertility fellowship for three years two years or more of practise following fellowship before attempting the board exams
The last phase is passing two written and two oral exams after meeting all the prerequisites. The focus of one set of exams is on obstetrics and gynaecology themes, while the subject matter of the second set is reproductive endocrinology and infertility.
With demand continuing to surge from the ranks of the 7+ million infertile American women, the number of Assisted Reproductive Technology (ART) cycles conducted by U.S. fertility clinics has increased significantly since 2014 and is anticipated to reach a record 333,600 IVF treatments this year.
However, many are discouraged by the hefty cost of IVF cycles ($12,400 each cycle, sometimes requiring numerous cycles), in addition to fertility medications, exams, and diagnostic tests. The overall cost may be $50,000 or higher. Additionally, because fertility clinics are often found in major cities, access is a problem for patients in rural locations. Only 15 states require insurance, thus the majority of people pay out of cash.
Six Important Details About the Fertility Clinics Sector
- According to Marketdata, the market for infertility services in the United States will grow by 21% to $5.87 billion this year. Revenues are expected to increase 7.0% on average annually until 2023, reaching $7.93 billion.
- Around 500 fertility clinics, more than 100 sperm donor banks, the market for egg donors, fertility medications, and 1,700 reproductive endocrinologists all compete for clients in this sector. Fertility clinics perform ART/IVF procedures worth $4.1 billion of the total.
- Due to the fact that 75% of potential customers do not use infertility services, this market is virtually untapped. Only 5% of American women have tried artificial insemination, only 15% have used fertility medications, and only 1% have utilised IVF.
- $976 million is the value of the global fertility medication market.The U.S. market is a mature market segment with a market value of $600-700 million. Less of these drugs are required when IVF process success rates rise.
- Since the majority of programmes are modest regional operations or a component of a hospital or university, there is only one “chain” of fertility clinics, IntegraMed. Most are owned privately. IntegraMed, which accounts for 7.6% of market revenue, runs some of the best fertility clinics in the sector.
- The market for egg donors and frozen eggs is expected to rise significantly this year and reach a value of $182 million, supported by the significant demand from non-American patients in Europe and the Middle East.
The pay for a reproductive endocrinologist varies. Endocrinologists made an average of $236,000 a year, according to Medscape, while OB/GYNs made an average of $303,000. According to the U.S. Bureau of Labor Statistics, physicians and surgeons received an annual salary of $100,000 during the same time period (BLS). An infertility expert may earn more due to the position’s speciality in renowned clinics and hospitals.
In the United States, a physician (gynaecology/infertility specialist) earns an estimated total compensation of $206,267 per year, with an average pay of $178,916. The expected annual increase in wages is $27,351. Cash bonuses, commissions, tips, and profit sharing are all possible forms of additional compensation.
Pay scale of women in the Industry
According to a study published in Fertility and Sterility, the gender pay gap is significant for reproductive endocrinology and infertility subspecialists in the United States, with women making much less money than men. In unadjusted comparisons, the researchers discovered that female gender was linked to a 27% ($85,000) income discrepancy. Even after accounting for years of experience and the type of practice, the gender of the practitioner remained strongly associated with a 21% ($67,000) wage discrepancy.
Even after taking into consideration factors associated with pay disparities, the gender pay gap that exists among physicians and, more generally, obstetricians and gynaecologists still exists among REI subspecialists. The first step in achieving gender-neutral compensation for equal work is acknowledging the wage discrepancy among REI subspecialists.The number of recent female REI subspecialists who report reduced pay inequality has significantly increased, and the difference seems to be narrowing. With less than five years of experience, there is a widening pay difference between private and academic practises. Infertility and reproductive endocrinology continue to be fields with high job satisfaction.
How much tax will you have to pay as a Reproductive Endocrinologist?
The average federal tax rate for a single filer in this tax band is predicted to be 35%. Reproductive endocrinologists might anticipate taking home $181,042 per year after paying a federal tax rate of 35%, with each paycheck equaling about $7,543*. With a take-home pay of roughly $15,087/month, and the median 2BR apartment rental price of $2,506/month , a Reproductive Endocrinologist would pay 16.61% of their monthly take-home salary towards rent.