Hi, DO student with a mid 230s, and looking into diagnostic radiology. How competitive am I for a residency in a big city? How is current job market? What do you think the near-future job market is going to be like?
Competitiveness and Job Market
- Thread starter HueySmith
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Can't speak to your competitiveness, but the job market is pretty good right now. Not mid-2000s good, but still good. Unfortunately for you, even if you're a senior medical student, you've got at least 6 years before you enter said job market. A lot can change over that time, so I'm not sure what good that information does you.
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Current job market is great. There is an anticipated dip in 2024. Do what you think will make you happy, not based on the anticipated job market. When I was applying, there was a lot of doom and gloom. People saying not to go into radiology because the job market sucked. You can't time any market accurately.
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Agreed with every thing mentioned above. I came out of fellowship at the bottom of the late 2000s. Market crashed. No one retired. Housing market crashed as one moved, he gotta sell his house for a loss. I decided to land a safe, small town job " just for a few years" to weather the job market condition before moving again. About 10 years later, I am still at that same job. With the current great job market, I am curious to see what is out there. However, I am way to comfortable with my current job to switch to a better location. Treading eggshell as an associate does not sound like fun
. Must be getting old !
That is just to say if I made it in the bottom of recent job market history, everyone else should stop worrying about timing of the market/job market.
. Must be getting old !
That is just to say if I made it in the bottom of recent job market history, everyone else should stop worrying about timing of the market/job market.
TheBlackCat
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Could you please elaborate on it? Why is a dip expected exactly in 2024?
Recent history seems to correlate the economy with radiology job market
It was reportedly terrible in early 2000s and worse in late 2000s.
Radiology is not that taxing physically, so if you’re on the verge of retirement, and see your portfolios value cut in half, you are more likely to hang on for a couple more years.
Now, We’re seeing a mass exodus of people who stayed an extra 3-6 years than they needed to. That’s going to return to a baseline at some point, and when the market eventually dips, people are going to clamp down on retirement again.
It was reportedly terrible in early 2000s and worse in late 2000s.
Radiology is not that taxing physically, so if you’re on the verge of retirement, and see your portfolios value cut in half, you are more likely to hang on for a couple more years.
Now, We’re seeing a mass exodus of people who stayed an extra 3-6 years than they needed to. That’s going to return to a baseline at some point, and when the market eventually dips, people are going to clamp down on retirement again.
Apparently there's a rumored 6 year ebb and flow period for Radiology's market.
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The next projected downturn is 2023ish. I doubt it'll get as bad as it was 8 years ago. Some of the perks to the radiology make it bad for finding a job... all you really need is a brain, eyes, and an ability to dictate (don't even need a voice anymore). It's hard to not find an internet connection. The only thing that would make one unfit to do the job is an inability to keep up with new technology/modalities (body imagers unwilling to learn prostate MR, for example).
One of the things that kept the market down were radiologists who lost enough money in the recession to need to keep working. The "physical" ease of the work made that possible. Hopefully many of those radiologists made their money back and are now retired which will keep spots open.
One of the things that kept the market down were radiologists who lost enough money in the recession to need to keep working. The "physical" ease of the work made that possible. Hopefully many of those radiologists made their money back and are now retired which will keep spots open.
Not just that but its easier for an older radiologist to keep up with a full workload. On the other hand a surgeon at age 65-70 won't necessarily be doing as many cases as they did when they were 50.
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If you lose both feet in an accident (or one hand and one foot), you can collect your full disability insurance payouts and yet continue to work as a radiologist.
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Many disability policies don’t pay out if you’re able to work.
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I saw a plan with a presumptive total disability provision that explicitly said it would pay out even if you are still working. Not sure if this is standard.
D
deleted950463
Interventional radiologists can get specialty specific policy where if you are no longer able to do needle work, you will collect even if you are able to work as a diagnostic radiologist, even if you have a bigger salary than before.
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This is correct. But disability plans can include policy riders addressing partial disability. My disability policy has the following optional (ie I pay extra for it) rider:
ENHANCED RESIDUAL DISABILITY. If, due to a sickness or injury, you are only able to work part-time and suffer a loss of earnings of at least 15%, you may be entitled to reduced benefits. If we determine that your loss of earnings is more than 75%, it will be deemed to be a 100% loss; and we will pay you as if you are totally disabled. If loss of earnings is less than 15%, residual benefits will end. Upon return to full-time work, if you continue to suffer a loss of earnings of at least 15% and the loss is directly related to your previous disability, you also may be eligible for residual benefits.
My plan's presumptive total disability provision was a standard policy benefit, not an optional rider.
PRESUMPTIVE TOTAL DISABILITY. You will be considered totally disabled if, while this policy is in force, you suffer the total loss of: speech; hearing in both ears; sight in both eyes; use of both feet; use of both hands; or use of one hand and one foot. The elimination period will be waived and benefits will be paid for as long as the presumptive disability continues, but not beyond the maximum benefit period.
If I lost any of those things, I'd probably not bother trying to practice.
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An aside as I didn't want to confuse the readers of my prior post. I say radiology is physically easier, but there are some job stresses to think about (much like anyone who works at a computer many hours of the day). There are a lot of ergonomics to think about at the work station. Having a good mouse (gaming is what I use... better shaped and more buttons for presets). Headset to relieve elbow strain from using a dictapone. Better chair. Desk that can go to standing. Good desk floor mat to ease stress on joints/back. Lightweight "lead" for those in the IR suite or needing to use lead for extended periods. Some of you will chuckle at it as medical students, but any job with a ton of repetition will do it.
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You are exactly right, it is called a presumptive disability claim and it pays regardless of post injury income or work load if you have that losses like this.
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The Big 6 carriers will if you have a simple loss of 15-20% of your income (depends on the carrier as to 15 or 20%), now if you have a group plan that states you have to lose ALL of your duties then no don't expect to be paid.
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That is correct, it is Own Specialty Disability and is based on the CPT codes you are doing at the time of CLAIM not what you can then go do.
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Presumptive is either built in or not on the contract, no carriers allow one to select it as an option.
Now your Enhanced residual I can tell is from Ameritas and yes you pay extra for it but as a physician Ameritas will not allow you to buy a disability policy without the Enhanced Residual so yes you pay extra for it but you are also kind of forced if you want to buy from that carrier.
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