Originally Posted by newankle
What percentage of practicing podiatrists do you think take home over $400K net? I would be interested to know. The APMA data suggests not many although I'm not sure how accurate that data is. In my case I increased my production from year one to two 35%. I expected that to half each year as between year two and three I increased 16%. However this year my production has increased 15% compared to the average run rate of last year.
I agree with newankle that there are certainly DPMs netting $400K, but I personally believe those are relatively few. I know doctors making significantly more than that, but I believe it's the exception and my experience over the years ( our group evaluates and sometimes purchases existing practices), along with the APMA data supports my feelings.
Yes, you can make an excellent living, but it does take dedication and hard work. Geographic regions also play a role in income, since some areas reimburse greater, some areas have high amounts of capitation and some areas are more liberal regarding scope of practice.
As newankle has stated, his case is an exception. If I remember correctly, some of his income is also derived as a share holder in an orthopedic goups which generates income via ancillary services such as MRI, physical therapy, etc. I believe he is relatively young and has achieved his success in a relatively short time. He obviously is well trained and well respected or he would not be in the position he's in at this time.
Yes, he is fortunate and landed in a great situation, but he also had to maintain that position to succeed.