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I would like to ask this question on behalf of all pre-meds. I have recently heard some disturbing news that makes me question my decision to become a physician.
I love medicine. I, like most applicants, have spent hundreds of hours with patients and have shadowed physicians. The reason I started this thread though is because I've heard that the compensation and general lifestyle for physicians will go down gradually in the future. Is that true?
Before you answer, I request that you don't tailor your answer to my specific situation, which is quite unique and is not applicable to most pre-meds. Let this thread be a resource for all pre-meds applying to US MD and DO schools for the next several years, not just a resource for me.
Here are some questions:
1. Will the salary of physicians in general go down due to the rise in the number of physician extenders, poor economy, and the rise in the number of new MD and DO schools? My time frame is after 5-15 years.
2. Will loans remain at the same level or possibly go even higher i.e tuition levels?
3. Will lifestyle deteriorate? By that, I mean will the number of hours of work per week increase in the future?
4. Will the healthcare/hospital administration make life even worse for physicians? Will physicians be forced to go through unbearable amounts of paperwork and lose significant autonomy?
5. Will it be financially viable to open up a private practice in the future?
6. Is it still worthwhile to take huge amounts of loans (assume applicant pays private medical school tuition) now as an incoming M1 so that the applicant can be an attending physician in the next 8-11 years? By this, I mean will the finances and lifestyle deteriorate to such a point in the future that even people who are passionate about medicine will still hate their lifestyle as a physician and wish they hadn't become physicians?
Again, I request that this thread be a general information thread for pre-meds. If there are any points I've missed, please include them.
Also, I know salaries differ by specialty. I know certain specialties are saturated and others are not. I know there are huge variances in tuition costs for US medical schools. I ask for your best most widely applicable answer despite these hurdles.
Here is a link for pre-meds and anyone else who want to find out more about physicians who leave their medical training due to problems with the current healthcare system:
http://commonhealth.wbur.org/2013/10/why-i-left-medicine-a-burnt-out-doctors-decision-to-quit
Thank you everyone who decides to make a contribution to this thread. It will certainly help thousands of pre-meds chart their life. Please let's keep the thread civil and on point.
I love medicine. I, like most applicants, have spent hundreds of hours with patients and have shadowed physicians. The reason I started this thread though is because I've heard that the compensation and general lifestyle for physicians will go down gradually in the future. Is that true?
Before you answer, I request that you don't tailor your answer to my specific situation, which is quite unique and is not applicable to most pre-meds. Let this thread be a resource for all pre-meds applying to US MD and DO schools for the next several years, not just a resource for me.
Here are some questions:
1. Will the salary of physicians in general go down due to the rise in the number of physician extenders, poor economy, and the rise in the number of new MD and DO schools? My time frame is after 5-15 years.
2. Will loans remain at the same level or possibly go even higher i.e tuition levels?
3. Will lifestyle deteriorate? By that, I mean will the number of hours of work per week increase in the future?
4. Will the healthcare/hospital administration make life even worse for physicians? Will physicians be forced to go through unbearable amounts of paperwork and lose significant autonomy?
5. Will it be financially viable to open up a private practice in the future?
6. Is it still worthwhile to take huge amounts of loans (assume applicant pays private medical school tuition) now as an incoming M1 so that the applicant can be an attending physician in the next 8-11 years? By this, I mean will the finances and lifestyle deteriorate to such a point in the future that even people who are passionate about medicine will still hate their lifestyle as a physician and wish they hadn't become physicians?
Again, I request that this thread be a general information thread for pre-meds. If there are any points I've missed, please include them.
Also, I know salaries differ by specialty. I know certain specialties are saturated and others are not. I know there are huge variances in tuition costs for US medical schools. I ask for your best most widely applicable answer despite these hurdles.
Here is a link for pre-meds and anyone else who want to find out more about physicians who leave their medical training due to problems with the current healthcare system:
http://commonhealth.wbur.org/2013/10/why-i-left-medicine-a-burnt-out-doctors-decision-to-quit
Thank you everyone who decides to make a contribution to this thread. It will certainly help thousands of pre-meds chart their life. Please let's keep the thread civil and on point.
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