PGY-IVs what offers are you getting?

[vistaril]

Okay, so it's not typical but they are out there. This would be on par with what I hear a lot of other specialties can do with private practice. It's good to see that psych still has the option. Any ideas as to why it's so uncommon in psych?

I've got some bad news for you(and news you clearly don't want to hear since you want to do psych and are looking for others to confirm your desires): this associate to partner track you see in other specialties doesn't exist in psych, and in the few practices it may exist it isn't meaningful in the same way it is in other specialties. The reason for that I've already detailed in another post in this thread you apparently didn't want to read.

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[Armadillos]

I've got some bad news for you(and news you clearly don't want to hear since you want to do psych and are looking for others to confirm your desires): this associate to partner track you see in other specialties doesn't exist in psych, and in the few practices it may exist it isn't meaningful in the same way it is in other specialties. The reason for that I've already detailed in another post in this thread you apparently didn't want to read.

From my experience as a medstudent talking to psychiatrists this post from vistaril seems correct and is the norm to what I've heard.

But its a two sided coin, yes psychiatric practices have a lower max reasonable revenue. But psychiatry is also one of only a handful of fields where its reasonable for someone to easily start a practice these days.

You literally just need 1 office, 2 chairs, a cellphone, a filing cabinet, blank paper and a prescription pad to start a cash only practice. (Not saying this set up is ideal or even likely, but its literally not possible to have this kind of flexibility in starting practices in the majority of other specialties)

 

[michaelrack]

Depends on the practice. Some practices are larger and involve such things as psychologists, labs, real estate, 24/7 call, TMS, group therapy, ECT, speech therapists, etc. Larger practices may involve partnership possibilities that add future income.

This however is not common in psychiatry. The deal is whatever you make it. Some people partner, some take a % of collections, salary, etc.

Psych is a varied field with varied pay. It all depends on the job involved.

I agree with this (that it is possible but not common in psychiatry). To the above list of possible revenue streams I would add clinical trials.

 

[vanfanal]

(and news you clearly don't want to hear since you want to do psych and are looking for others to confirm your desires)

You've got me

 

[TexasPhysician]

Okay, so it's not typical but they are out there. This would be on par with what I hear a lot of other specialties can do with private practice. It's good to see that psych still has the option. Any ideas as to why it's so uncommon in psych?

My opinion is that the personality that draws people to psych is less compatible with successfully implementing a large practice.

Most psychiatrists I've met are happy with general employment, starting a small practice with 100% autonomy, or part-time work.

 

[vanfanal]

Can anyone enlighten me as to the job sit in Florida? I'm asking because there's a strong chance that that's where my family will be in the coming years.

 

[2tall]

Loan repayment is a bit of a joke through the VA. You get $60k over 5 years ($12k/year) and you get the money after you prove you've made payments over the preceeding 12 months - the money comes as a lump sum. The process to get yourself approved for EDRP takes about 6 months as it has to go to the VISN for approval.

The new "Veterans' Healthcare Overhaul Law" doubled the repayment amounts. How do you like the punchline now?

 

[Shikima]

The new "Veterans' Healthcare Overhaul Law" doubled the repayment amounts. How do you like the punchline now?

I don't like it. I think it's a lame attempt at strong arming physicians. And there likely will be no 'do over' for those already involved with EDRP to be able to get more money.

 

[vanfanal]

Can anyone update with some new data?

 

[vistaril]

Can anyone update with some new data?

Florida is not a terribly favorable job market overall.

 

[Frazier]

Florida is not a terribly favorable job market overall.

Is that the locale where you're pulling your 410k?

 

[vistaril]

Is that the locale where you're pulling your 410k?

No.

 

[EMDO2018]

Ill be 250k in debt, hopefully starting salary to debt ration can be at least 1:1 in 7 years?

 

[olivarynucleus]

nvm