are Dermatologists taking a big hit financially right now?
Started by amherstguy
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There will always be a huge demand for medical derm.
I, of course, expect cosmetic derm to take a slight hit.
I, of course, expect cosmetic derm to take a slight hit.
that's interesting.. my classmates who are going to derm are pretty open about it.. and the financial downturn and prospect of national healthcare was one of the main motivator for them to go derm... reason being, while reimbursement decreases, derm will always have the cash based cosmetic component.
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Your classmates are getting bad advice.
At least in the part of the country where I'm located, plenty of dermatologists advertise for the cosmetic aspect of their practice. But very few have built a successful practice solely on cosmetics (or even predominantly on cosmetics)
The tough economy hurts, essentially, all discretionary spending. This includes cosmetic medical procedures. It is very likely that cosmetic procedures (Derm, Plastics and ENT) will go down. That said, my sense is that a lot of the success of Dermatologists is based on medically necessary procedures and that will continue as there is a relative shortage of Dermatologists.
I would not recommend that people in Derm focus on cash based cosmetic work as the base of their livelihood.
I would not recommend that people in Derm focus on cash based cosmetic work as the base of their livelihood.
Are you telling me those that go into derm do it for the money and not the love of skin?
Are you telling me those that go into derm do it for the money and not the love of skin?
I'm sure it happens but in a weird way, the cutthroat competition to obtain a dermatology residency spot might ward off these individuals.
If I were in it just for $, I would have long ago selected a different field instead of putting myself through the grinder for 4 years of medical school. (And God knows how much longer if I fail to match)
Derm is not the only field you can make a decent buck in.
Discretionary spending is down, including cosmetic procedures. Everyone is likely to feel some of the pain, either in the form of increasing levels of bad debt and longer A/R times, increased no show rates, or decrease in number of visits.
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InertQuail
Derm is perceived by current nonderm physicians as the holy grail. If ever I am asked by an attending or resident what I want to go into and I reply derm, they make one of two comments: "hey, can you get a spot for me?" or "you're very smart" (as in, you're smart for going into the one field of medicine where people report job satisfaction 10 years after residency). Actually, sometimes they look at me like I'm ******ed or insane or both, but that happens less.
I feel that the vast majority of people going into derm are doing it primarily for the lifestyle. I don't see the shame in that. It's why I'm doing it. I also happen to find skin pretty darn interesting, probably moreso than anything else I've seen since starting medschool.
Derm is one of the few fields where a physician can maintain some semblance of a social life and family life, while also being productive in their career. It's not about the money, it's about happiness and having the time to enjoy one's life.
I feel that the vast majority of people going into derm are doing it primarily for the lifestyle. I don't see the shame in that. It's why I'm doing it. I also happen to find skin pretty darn interesting, probably moreso than anything else I've seen since starting medschool.
Derm is one of the few fields where a physician can maintain some semblance of a social life and family life, while also being productive in their career. It's not about the money, it's about happiness and having the time to enjoy one's life.
I'd argue every field has physicians that have struck their own perfect balance of social/family/work life.
This is not unique to derm.
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InertQuail
That's why I qualified my statement by saying that derm was "one of the few fields" that offered the best work/life balance.
I just think that derm lends itself best to a great lifestyle. It can't be coincidence that it's so competitive and that so many practicing physicians wish they had become dermatologists. It can't merely be due to there being a platoon of skincrazed doctors who realized this later in their careers as pediatricians/surgeons/obstetricians. I've never ever heard a derm doc say they wished they'd gone into family practice or emergency med. On the contrary, every derm doc I've met has been completely happy with their career, and would chose it again if they had to do it all over.
Perhaps your mileage has varied but I haven't met "so many" practicing physicians wishing they were dermatologists.
Sure, I've heard the same self-deprecating "Oh you're so smart. I wish I would've done that" but I don't get the feeling they're serious about changing fields. In fact, I hear it more tongue-in-cheek from residents than actual attending physicians.
People get married, have kids, have friends, and enjoy work across all fields. Now, in residency, then yes, dermatology residents definitely have it better than most if not all other residents. 😛
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Psych is not part of the ROAD because it just doesn't work out. How can you say PROAD to happiness or DORPA to happiness or OPDRA to happiness? You might say DO RAP to happiness, but it still doesn't quite fit right. It's pretty clear really.
Seriously though
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You can do that in physiatry too.... Just so ya know.
I agree that psychiatry is a good choice for those who want a nice lifestyle. However, I personally do not enjoy "just talking" all day. I enjoy procedures and being more active with my hands. Psych is a great choice for those who love talking all day and maybe don't like to "touch" patients. I just get bored with all the talk.
I think he means physiatry as in PM&R. There's an opportunity to get involved with procedures there too.
Like I had said earlier, there's an opportunity for solid lifestyle in most if not virtually all fields as an attending. It's more important to choose based on what you like to do as opposed to choosing for superficial factors like lifestyle.
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InertQuail
I've convinced myself that I like derm the most so that I can be alright with my choosing it mainly for the lifestyle.
If I truly chased my dream, I'd be an astronaut author videogame designer who also made short films and was a part time comedian. That plan sorta fell thru, and so I chose a career where I will have enough time to do all that stuff in an amateur sense (except the astronauting, of course, unless I can save enough to pay Branson for a flight).
Psych is a great lifestyle wise but I personally don't have a liking nor passion for that sort of pathology at all.
It may not be competitive overall but obviously is for the top spots.
I think what attracts many people to derm (including myself) is that you can do all sorts of cool, non-complicated, short procedures, and procedures usually pay better than an office visit.
In psych you don't really do anything with your hands
I think what attracts many people to derm (including myself) is that you can do all sorts of cool, non-complicated, short procedures, and procedures usually pay better than an office visit.
In psych you don't really do anything with your hands
Au contraire.
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I think it is understood that it is extremely unlikely to make "derm money" in psych. While there is a great demand for psychiatrists, the patient population is generally quite poor (drifting into the lowest SE class), therefore many/most would not be able to pay out of pocket for services. There are a few psychiatrists with wealthier private patients, but these are extremely rare and patients are jealously guarded. At least this is what I gathered from private practice psych guys I have met.
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