Debt

I agree that each student should be careful with debt. Especially in today's economy. However, you are a bit off on your assessment above. The majority of residency graduates go in with either a multispecialty, ortho, hospital, or existing podiatry group.

Out of the MANY graduated residents that I personally know, only a couple went out on their own. The rest all went in with one of the above mentioned groups. Starting out on your own used to be the status quo for podiatry. However, as podiatry has evolved into a surgical subspecialty (performing the majority of foot surgery in the country), a lot of these other opportunities have become very viable.

 

Great post whiskers....fantastic response jonwill (you seem to always contribute positively in this forum). There's a lot of uncertainties, however, same can be said of other profession such as dentistry, MD/DO and such. The economy is threating everyone regardless...or so it seems...let's hope things will turn soon. I am not so worried about getting into debts as much as who's willing to lend me money for pod school in this economic tough time.

 

Hey whiskers, what's your story? I came across some of your old post and....you're still playing this same old tune? What happened to you? Did a pod touch you inappropriately or something? Merry Xmas...oh yeah, no quarantee that Santa will come either right????

 

The key here is "in your opinion", because there is no evidence the pod graduates are any more likely to default on their loans than MD students.

The economy will be going through tough times, therefore, it would probably not be wise to be a stock broker, a banker, a credit analyst. Likewise, it would be wise to avoid aspects of medicine or podiatry likely to be affected by the economy, like cosmetic podiatry or a cash only orthotics business. It would be a smart choice to concentrate on diabetic foot problems and/or trauma which won't be affected by the economy. Also, to enroll in your state medicaid program, in case some privately insured patients change to state aid. Generally, the practice of medicine is somewhat sheltered from these type of economic issues. That's not to say the rest of your life is sheltered, ability to get a loan, mortgage, etc.

Bottom line is, if you're a moron with no medical or business sense you will fail at any health profession. Podiatry is not a $150k/year hand out that you can sit on your rear and put no effort into it. It's hard work and requires some ingenuity. The people who will make the most money are those that are not afraid to negotiate, are outspoken, and can advertise themselves.

This post seems like fear-mongering to me.

To the readers:
Ask yourself this question, why would some professionals active in a profession dissuade you from entering? Either, 1. they are extremely caring and empathetic and truly believe the profession is a bad choice, or 2. they are making a killing and fear their own success, causing panic to limit their competition.

 

Posted by: Diabeticfootdr
"Bottom line is, if you're a moron with no medical or business sense you will fail at any health profession. Podiatry is not a $150k/year hand out that you can sit on your rear and put no effort into it. It's hard work and requires some ingenuity. The people who will make the most money are those that are not afraid to negotiate, are outspoken, and can advertise themselves"


Agreed

 

agree w/ the DOC

 

Really, debt is big in all health professions. In any field you can go bankrupt. A chiropractor can have 5 centers & make tons of $, or go broke & file bankruptcy. No guarantee in life. Read my signature quote.

 

By those standards, you could basically make that argument about ANY resident. And yes, hospitals/attendings really do need the residents simply because of the work load. It's not just doing cases. It's rounding on dozens of patients and doing many floor and ER consults daily. Who else is going to do it?

I love it when people treat podiatry like it is some "optional" medical specialty. Who's going to do all of the foot and ankle trauma at countless hospitals across the country? Who's going to handle all of the DM foot infections, gangrene, osteo, etc? Sure, we do plenty of elective procedures (such as bunions and hammer toes) but we also do a ton of procedures that are not elective.

IF the federal government were ever to slash funding except for "essential core residencies" (which would never happen), podiatry would most likely be kept as NO ONE else does what we do. Podiatry has grown to what it is today precisely for that reason, we are greatly needed. Anyone who thinks differently obviously has no idea what podiatrists do in the first place.

 

And - the rate of BKA's and AKA's would go up exponentially.

Read this...

http://www.mayoclinicproceedings.com/pdf%2F8307%2F8307rc.pdf

 

Quick question. I have scanned this thread so this may have been discussed but does the figures given include undergraduate debt along with medical school debt?

 

I believe thats what he's trying to say.

300k? Thats a little high. Maybe if you went to a $50k/year private school and had zero scholarships or grants.

 

There's no doubt with an aging pop. that DPM's will be needed for far more than toe surgery. But, insurance co.'s will be more selective in WHICH DPM gets the nod. Therefore, its going to be the BEST trained ones that get the coverage. Look at it this way, if you had limited funds to disburse would you give it to the MOST qualified or least?

 

What determines this? Seems straightforward but does that mean a fresh pod wont get coverage even if coming from a high-powered PM&S 36?

 

Yea, to me that makes no sense. If a patient needs something done and it is covered why would this matter? On the same note, how does an insurance company determine the difference between Dr. X and Dr. Y abilty to do something? I bet they have a magic eight ball like the government too!

 

Training matters more in terms of getting onto hospital staff, acquiring academic positions, or becoming a group partner. In terms of insurance companies and HMOs, many will just sell to the lowest bidder (who has the minimal qualifications).

If Doc A will accept a $70 fee for each office visit but Doc B won't take any less than $100, then guess who gets the contract? A lot of successful docs are on many insurance plans, but you will see that many tend to drop certain poor-paying ones after they acquire enough patients from other plans.

 

My thoughts exactly. The only way I think they will choose one doctor over another other than price would be Malpractice claims. If Dr. A has 5 malpractice claims Im sure they will choose Dr. B regardless if he is less experience and is a little more expensive with 0 malpractice claims. I could be wrong however.

 

So then all medicine is in trouble with your scenario, not just podiatry. Dude you're so negative about everything. Sure, things might happen the way you present it, but there's also a good chance that it won't.

Even if things do take a turn for the worst, I doubt that the 500+ or so graduating pod students every year will be left to die in an alley somewhere.

 

Boo freaking hoo.

I mean COME ON. Yes debt management is an important aspect of any sort of medical education, but this is so dramatic and fatalistic that it's just silly. (There's a lot of silliness on these forums I've discovered.) If the financial aspect is such a HUGE DEAL, then don't go to podiatry or any other graduate/med school, and pay cash for everything you buy. It's really that simple.

Yes the credit market is crap and the economy sucks right now. Guess what? That's what happens when you live in a capitalist society, it goes through cycles. You can complain about it and make it a reason not to do anything you care about, or you can decide that you feel SO strongly about something that you will make it happen no matter what. There's always a way.

 

What a Doom and Gloom post, sounds like my dad. Honestly nothing is secure, and never really was. If you want something guaranteed than start putting stock in your death.

Podiatry won't disappear, but even if it does what is a better profession. My engineer buddies are getting laid off left and right, along with my friends working in industrial chemistry. Every medical profession is bracing for a financial hit. Major companies are laying off thousands. Singling out Podiatry isn't fair, the way I see it we are all screwed so do something you will enjoy while being fiscally responsible.

If you want a secure job, be a nurse. But if you want to listen to someone complain about their job, then talk to a nurse.

 

I usually make it a point to stay very positive on these forums. but i feel i must chime in on this one.
I have to agree with whiskers on this one. (especially about the bubble that his health care in this country.)
though i can understand why its hard to take whiskers seriously ,the world looks so very nice when your guaranteed to get money every semester to blow/ (JK)
sure, things will probably work out for the best. But with the way things look now, EVERy POD and pre pod should consider the amt of debt his/her education will bring. As much as i think being a dpm is a honor, its also a investment. At this point in time, a 200,000 investment in a system thats about to bust should be approached cautiously and taken very seriously. you must consider the risk that whiskers is right!
in my meager opinion every pre pod and pod student should be a uneasy about whats to come. im not saying every one should quit and become dentists. I just see alot of truth in what whiskers is saying. all health professions are feeling the pressure.
im all for optimism, but we should still deeply consider our place in a system that may be in trouble .
i hate to be a downer....
besides, we all know capitalism died when the gov had to bail out banks and big corps.
welcome to a new world - adjust accordingly