A rotary blood pump is provided which includes a pump housing and a rotor mounted for rotation with the housing. The rotor has an impeller. A rotor motor is provided including a plurality of permanent magnets carried by the impeller. A first motor stator is positioned on one side of the impeller and a second motor stator is positioned on an opposite side of the impeller. The motor stators each include a plurality of electrically conductive coils and pole pieces located within the housing. A plurality of wedge-shaped hydrodynamic thrust bearings are located outside of the axis of the rotor. During rotation of the impeller, the hydrodynamic bearings are separated from the housing by a fluid film and are not in direct mechanical contact with the housing.