decreasing compensations?

[lokobo]

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I know predictions on this are as good as anybody's guess...

but I'm just curious, who do you guys think saleries in Radiology will change over the next 20 years?

 

[hans19]

I know predictions on this are as good as anybody's guess...

but I'm just curious, who do you guys think saleries in Radiology will change over the next 20 years?

Yes they will change.

Like compensation in other specialties in medicine, salaries will go down.

If you chase the money and you aren't doing what you really like, you'll be absolutely miserable when (NOT IF) the salaries get cut.

 

[Wallachia]

I know predictions on this are as good as anybody's guess...

but I'm just curious, who do you guys think saleries in Radiology will change over the next 20 years?

probably will get paid in rupees

 

[colbgw02]

I know predictions on this are as good as anybody's guess...

but I'm just curious, who do you guys think saleries in Radiology will change over the next 20 years?

compensation per study will go down; i think that's inevitable at this point. the caveat is that the number of studies being ordered is and has been increasing at a rate much higher than the increase in radiologists. so there is still plenty of money out there to be made; you'll just have to work harder to make it.

unfortunately, it's a bit of a cycle, which is why i get so upset when clinicians unnecessarily order a study. all of those extra studies add up, so when they go to cut healthcare costs, they're going to put radiology in the cross hairs. just like they did to CABG, just like they did to cataract surgery. if only indicated studies were ordered, then radiology might be able to fly under the radar for a bit longer.

 

[Taurus]

Rads is not alone. Ortho and card procedures almost had reimbursement cuts this year too. I'm sure Congress will try again next year. I don't see any specialty being safe from decreasing reimbursements in the future. But rads is different because it's on the cutting edge of technology and Congress has a hard time hitting moving targets. 😀 There's always something new and better tomorrow.

 

[wes2308]

Can someone explain exactly what is being cut? Is it only the technical component on outpatient imaging? Can someone clarify this?

 

[hans19]

Can someone explain exactly what is being cut? Is it only the technical component on outpatient imaging? Can someone clarify this?

THAT AND a 14% professional fee cut as well scheduled for 2007.



Deep thoughts... by Jack Handey:
You really should do what you love doing in life. If you're in it just for the money, what more are you than a *****?

But what if you enjoy getting paid to have sex? You still should do what you love, but in the end I guess you'd still be a *****....

 

[andwhat]

THAT AND a 14% professional fee cut as well scheduled for 2007.



Deep thoughts... by Jack Handey:
You really should do what you love doing in life. If you're in it just for the money, what more are you than a *****?

But what if you enjoy getting paid to have sex? You still should do what you love, but in the end I guess you'd still be a *****....

I personally think that Rads is the cutting edge field of the future..... even if there are pay cuts, there will be other and many other methods of reimbursement regarding this field. I agree you should do what you love, and not what pays best. ER pays well, but people burn out easily for instance.

 

[cliffhanger]

What is the 14% professional fee cut?

 

[(nicedream)]

The medicare fee cuts are cancelled at the last minute every year in Congress, is this the same cut you are talking about, or something else?

 

[hans19]

The medicare fee cuts are cancelled at the last minute every year in Congress, is this the same cut you are talking about, or something else?

Every year there is a scheduled cut, it has been frozen at the last minute. But this is the largest proposed cut ever for imaging, secondly it affects the professional fee, where as the prior cuts mostly affected technical fees.

I can't tell you if this is 'that' cut, because congress hasn't cancelled anything yet. I am not going take it for granted that congress will freeze anything. I expect the cut to go through. If not, than I will be pleasantly surprised. As far as everyone knows this will go through for 2007.

 

[lokobo]

so does this mean that radiology will be less and less competitive over the next few years?

 

[p53]

I just want to clarify for everyone that the Deficit Reduction Act of 2005 affects outpatient imaging that is NOT hospital affiliated. Some modalities such as CT reimbursement is cut up to 40%. This is going to start on January 2007. Radiologists in these practices will have their salaries (it is tied to reimbusement) cut too. There is a proposed moratorium backed by GE but it might not be enough.

For those that are interested in Academic Radiology it will not affect us one bit. Then again academic radiologists make 60% of community practice radiologists.

I still find it comical that most medical students see academic radiologists during their rotation and believe they make the same exorbitant salary.

The fact is that you either choose money (community practice) or lifestyle (academic post). Community radiology is high volume, high stress with overnight call. You earn every penny of your money. Academic radiologists have a set salary and is comparable to any other academic positions in medical school such as an attending in medicine, surgery, or peds. You can't have money and lifestyle. Yet, you have people that want to go into radiology because of money and lifestyle. This is unrealistic. There will be many people unhappy with their career choice when DRA slashes reimbursement for community practice radiologists. Then again some smart medical students will figure out if they prefer an academic post they can make the same salary doing 3 years of ER residency rather than 5 years of radiology residency.

Bottomline: I believe Radiology is the best field in medicine because of extensive experience investigating the field. However if you personally don't find it fascinating and have a passion for it you will be more miserable than an overworked surgeon.

Why?

At least the surgeon has prestige while most laypeople don't even consider radiologists as physicians.

Be true to yourself. The money will not be the same even with "new technologies" because medicare still has to give you the coding for new image modalities. It is foolish to say radiology is on the cutting edge thus salary will remain the same. It doesn't work that way. You have to have a billing code to make money. For example, MR spectroscopy is a great modality but medicare doesn't have a billing code so there is no reimbursement.

Investigate the field and enter radiology because of sincere interest. If you enter radiology because of any hope of money you will be a liability to yourself, your family, your radiology partners, and the field of radiology.

 

[Reaganite]

I just want to clarify for everyone that the Deficit Reduction Act of 2005 affects outpatient imaging that is NOT hospital affiliated. Some modalities such as CT reimbursement is cut up to 40%. This is going to start on January 2007. Radiologists in these practices will have their salaries (it is tied to reimbusement) cut too. There is a proposed moratorium backed by GE but it might not be enough.

For those that are interested in Academic Radiology it will not affect us one bit. Then again academic radiologists make 60% of community practice radiologists.

I still find it comical that most medical students see academic radiologists during their rotation and believe they make the same exorbitant salary.

The fact is that you either choose money (community practice) or lifestyle (academic post). Community radiology is high volume, high stress with overnight call. You earn every penny of your money. Academic radiologists have a set salary and is comparable to any other academic positions in medical school such as an attending in medicine, surgery, or peds. You can't have money and lifestyle. Yet, you have people that want to go into radiology because of money and lifestyle. This is unrealistic. There will be many people unhappy with their career choice when DRA slashes reimbursement for community practice radiologists. Then again some smart medical students will figure out if they prefer an academic post they can make the same salary doing 3 years of ER residency rather than 5 years of radiology residency.

Bottomline: I believe Radiology is the best field in medicine because of extensive experience investigating the field. However if you personally don't find it fascinating and have a passion for it you will be more miserable than an overworked surgeon.

Why?

At least the surgeon has prestige while most laypeople don't even consider radiologists as physicians.

Be true to yourself. The money will not be the same even with "new technologies" because medicare still has to give you the coding for new image modalities. It is foolish to say radiology is on the cutting edge thus salary will remain the same. It doesn't work that way. You have to have a billing code to make money. For example, MR spectroscopy is a great modality but medicare doesn't have a billing code so there is no reimbursement.

Investigate the field and enter radiology because of sincere interest. If you enter radiology because of any hope of money you will be a liability to yourself, your family, your radiology partners, and the field of radiology.

P53, you never cease to amaze me. One minute, you post some of the most ridiculous shi* I have ever seen on SDN. The next minute, you make an excellent post like this. What gives?

 

[hans19]

Investigate the field and enter radiology because of sincere interest. If you enter radiology because of any hope of money you will be a liability to yourself, your family, your radiology partners, and the field of radiology.

Agreed.
Excellent post! 👍

 

[LADoc00]

Radiology faces what I feel is the greatest risk of "catastrophic" reductions in income. Partly because they are so well compensated now, and partly because of the increasing ferocity of the turfs wars over procedures with surgery. Also partly because frankly it would take a mere stroke of a pen to allow off shore docs in China or India interpret scans, or even worse automated platforms with next generation image analysis capabilities. Even if automated platforms were not perfect, they could guide and direct a surgeon well enough that they could interpret scans on their own. This may not happen now, but I see reimbursements going way down in the future. Fee for service types like derm are in far far better shape for future change.

 

[Reaganite]

Completely off-topic, but what are you basing your sig on, LADoc? I can see that happening in certain areas of SoCal where you have a very large illegal immigrant population. However, I always assumed that northern Cal (like certain SoCal areas bordering these immigrant areas) would stay high or go even higher as it becomes a haven for wealthy legal citizens. Then again, who knows what's going to happen. It's only a matter of time before California becomes the people's republic of California, so maybe all of the wealthy people will be gone. 🙂

 

[p53]

Radiology faces what I feel is the greatest risk of "catastrophic" reductions in income. Partly because they are so well compensated now, and partly because of the increasing ferocity of the turfs wars over procedures with surgery. Also partly because frankly it would take a mere stroke of a pen to allow off shore docs in China or India interpret scans, or even worse automated platforms with next generation image analysis capabilities. Even if automated platforms were not perfect, they could guide and direct a surgeon well enough that they could interpret scans on their own. This may not happen now, but I see reimbursements going way down in the future. Fee for service types like derm are in far far better shape for future change.

Agree with LADoc. 👍

This is why it is vital that students enter radiology because of sincere interest. Money and lifestyle are transient.