Are general IM physicians really among the lowest paid?

[Doku]

That is what most salary surveys say, at least. On the other hand, some of the IM attendings in our hospital who have solo practises make >500k. I know for a fact that one of them made 750k last year. Was just wondering, is it common for someone having a solo practise to make that much i.e almost three times as much as someone who is employed by a hospital or a group?!

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[mig26x]

if you have a general IM making >500k there's something strange there unless he lives,sleep and eat on his office and hospital

 

[Mumpu]

Peds and family usually make less. General IM now includes hospitalists who have a very decent income.

 

[Thaitanium]

If you go into either FP or IM and have good business sense, you can make lots of $$$. You have to have a booming practice, just like a small little hospital and guess what, you are the CEO. Those who do IM and FP and are making the typical 150K a year have little to no business sense period....and no, you don't have to live, sleep and eat at your clinic.

 

[Mumpu]

No, you just have to do a lot of office procedures, imaging, etc.

 

[Faraaz23]

I know a handful of internal med docs doing pretty well. In fact, the doc i was assigned to shadow M1 year was internal med... he had a couple junior associates, a PA, in-house xray machine, owned a sleep lab (with a couple more associates working for him there) and was in charge of the stress tests at his hospital. He told me he pulled in over a million last year. I know this is rare and just an analogy, but it just goes to show if you know what you're doing you can make a lot.

 

[Gastrapathy]

I know a handful of internal med docs doing pretty well. In fact, the doc i was assigned to shadow M1 year was internal med... he had a couple junior associates, a PA, in-house xray machine, owned a sleep lab (with a couple more associates working for him there) and was in charge of the stress tests at his hospital. He told me he pulled in over a million last year. I know this is rare and just an analogy, but it just goes to show if you know what you're doing you can make a lot.

the sleep lab was probably at least 50% of his profit. what a racket.

 

[werewethere]

I know a handful of internal med docs doing pretty well. In fact, the doc i was assigned to shadow M1 year was internal med... he had a couple junior associates, a PA, in-house xray machine, owned a sleep lab (with a couple more associates working for him there) and was in charge of the stress tests at his hospital. He told me he pulled in over a million last year. I know this is rare and just an analogy, but it just goes to show if you know what you're doing you can make a lot.

Sounds like a pretty good businessman. Is he in a small market or is he able to push this kind of income in the face of competition of a larger urban area?