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Depends on how much you fear deathShould this be a significant consideration when choosing between psychiatry and other specialties?
Depends on how much you fear deathShould this be a significant consideration when choosing between psychiatry and other specialties?
There's more than enough patients to go around.The problem is that employers and patients often don't care about the difference between MD/DO and NP. Why see a physician when you can seen an NP faster who will give you whatever med you want? Same thing from employer side of things. Why hire a physician who may cost twice as much for a job that an NP can fill and possibly get higher patient satisfaction scores from handing out meds like candy? Physicians are competing with mid-levels for patients now. Whether we like it or not, that's the reality.
Psych is still relatively safe on this front compared to other fields d/t the significant shortage of mental health professionals compared to need. Look at areas like FM, peds, even EM and you'll see a much different picture. With the advent of mass enlistment of telehealth to see encounters, I'd be willing to bet we're going to be seeing a lot less of those high paying jobs out in BFE because access may no longer be as big of an issue in the coming years. Additionally, why hire a physician for those positions at 300k+ per year when you can hire an NP using telehealth for 1/3 of the price? I'm not immediately worried about psych, but mid-level encroachment is a very real thing which may play a significant role in salary (of all fields) going forward.
Relating this to OP's original question, the salary doesn't deter me at all and was actually a huge plus for psych. Work like a surgeon and you can pull in surgeon pay ($400k+ easily), or work a 9-5 job with no call and make ~$200k. There's still a huge shortage of mental health professionals and that likely won't be changing in the near future (next 10-15 years). It's also got a lot more flexibility in terms of job options, many of which don't require fellowship training. That means flexibility in terms of ways to make money as well, and it's definitely the field in which it is easiest to set up your own cash-only practice. In med school I was fortunate enough to rotate with some attendings who had somewhat unique positions, and this forum has actually been a great resource for learning what else is out there. As Texas said earlier, there is so much variation in psych that the average salary numbers are somewhat meaningless if you're willing to actually work to build your career.
So the tl; dr is no, the "average" salary in psych did not deter me from the field at all (and I'd argue should not be a prime reason to deter anyone).
disagree, i doubt most in cash private practice see it this way. NP school has definitely cheapened psychiatric board certification and it will just continue to worsen over time. Only surgeons are safe IMHOThere's more than enough patients to go around.
Should this be a significant consideration when choosing between psychiatry and other specialties?
Nonsense. I can't speak for psychiatry but cash only primary care is absolutely booming.disagree, i doubt most in cash private practice see it this way. NP school has definitely cheapened psychiatric board certification and it will just continue to worsen over time. Only surgeons are safe IMHO
I'm cash only psych. And business is booming.disagree, i doubt most in cash private practice see it this way. NP school has definitely cheapened psychiatric board certification and it will just continue to worsen over time. Only surgeons are safe IMHO
Psych pays a lot...
1) Prison psychiatryWhat do you do to make a lot?
LocationWhat do you do to make a lot?
Bet it would be much better and you could charge higher rates if you weren't surrounded by NPs who charge lower feesI'm cash only psych. And business is booming.
Location
Salary
Work load
pick 2, that’s psychiatry
Bet it would be much better and you could charge higher rates if you weren't surrounded by NPs who charge lower fees
I'm happy with the way it is now. I don't feel the need to bill higher regardless who is around meBet it would be much better and you could charge higher rates if you weren't surrounded by NPs who charge lower fees
cash is probably the most insulated from this actually. Patients tend to pay attention to the qualifications of who they’re seeing when they have to pay for it.
it’s the hospital employed positions and FQHCs that are most problematic here, where administrators see you like anesthesia and CRNAs. 1 psychiatrist to “collaborate” and sign off on the notes for 3-4NPs (in states where you even have to do this) is cheaper than 3 psychiatrists and Medicaid patients don’t have much choice about who they see anyway. It’s sad but true.
Eh, every NP that has been hired by the big local group save for one was fired or quit becauss they either weren't competent or couldn't handle the workload. I'm not all that concerned. Also there's a lot of state laws that only allow a psychiatrist to do certain things like involuntary commitments and the like, so that helps a bit in many settingsThe problem is that employers and patients often don't care about the difference between MD/DO and NP. Why see a physician when you can seen an NP faster who will give you whatever med you want? Same thing from employer side of things. Why hire a physician who may cost twice as much for a job that an NP can fill and possibly get higher patient satisfaction scores from handing out meds like candy? Physicians are competing with mid-levels for patients now. Whether we like it or not, that's the reality.
Psych is still relatively safe on this front compared to other fields d/t the significant shortage of mental health professionals compared to need. Look at areas like FM, peds, even EM and you'll see a much different picture. With the advent of mass enlistment of telehealth to see encounters, I'd be willing to bet we're going to be seeing a lot less of those high paying jobs out in BFE because access may no longer be as big of an issue in the coming years. Additionally, why hire a physician for those positions at 300k+ per year when you can hire an NP using telehealth for 1/3 of the price? I'm not immediately worried about psych, but mid-level encroachment is a very real thing which may play a significant role in salary (of all fields) going forward.
Relating this to OP's original question, the salary doesn't deter me at all and was actually a huge plus for psych. Work like a surgeon and you can pull in surgeon pay ($400k+ easily), or work a 9-5 job with no call and make ~$200k. There's still a huge shortage of mental health professionals and that likely won't be changing in the near future (next 10-15 years). It's also got a lot more flexibility in terms of job options, many of which don't require fellowship training. That means flexibility in terms of ways to make money as well, and it's definitely the field in which it is easiest to set up your own cash-only practice. In med school I was fortunate enough to rotate with some attendings who had somewhat unique positions, and this forum has actually been a great resource for learning what else is out there. As Texas said earlier, there is so much variation in psych that the average salary numbers are somewhat meaningless if you're willing to actually work to build your career.
So the tl; dr is no, the "average" salary in psych did not deter me from the field at all (and I'd argue should not be a prime reason to deter anyone).
Oh yeah it’s hilarious when you hear what other nurses (RNs) preference for who they want to see. I had one nurse tell me she wouldn’t let her dog go see an NP 😆Agreed. Most people probably don't know the difference between an NP and an MD. Someone willing to put down at least a couple of cable bills per month for mental health care as a rule is entirely aware of this distinction and has a strong preference.
Accidentally stumbled into another niche of people who pay attention to qualifications - treating other people who work in mental health. Turns out even midlevels prefer to not see midlevels when push comes to shove.
n=1 but I worked with a CAP psychiatrist who said he earns ~600k working for an inpatient private hospital. He worked about 60 hrs per week with call. This same guy left the hospital for a prison psych job.
Friend who is a psych resident accepted a very lucrative jobs in penal system as well.
Outside of very few markets, there should be no one making less than 230-250k working fulltime in psych unless you have very low case loads, research, significant other benefits (ala VA) even for full outpatient no-call jobs. This is not pediatrics.
There's more than enough patients to go around.
disagree, i doubt most in cash private practice see it this way. NP school has definitely cheapened psychiatric board certification and it will just continue to worsen over time. Only surgeons are safe IMHO
Agreed. Most people probably don't know the difference between an NP and an MD. Someone willing to put down at least a couple of cable bills per month for mental health care as a rule is entirely aware of this distinction and has a strong preference.
Eh, every NP that has been hired by the big local group save for one was fired or quit because they either weren't competent or couldn't handle the workload. I'm not all that concerned. Also there's a lot of state laws that only allow a psychiatrist to do certain things like involuntary commitments and the like, so that helps a bit in many settings
Why and how can the prison system afford to pay so much?n=1 but I worked with a CAP psychiatrist who said he earns ~600k working for an inpatient private hospital. He worked about 60 hrs per week with call. This same guy left the hospital for a prison psych job.
Friend who is a psych resident accepted a very lucrative jobs in penal system as well.
Prisons are legally obligated to provide adequate psychiatric services for prisoners per federal laws on the matter. A failure to do so is considered a violation of the civil rights of prisoners. Since most psychiatrists aren't willing to do the work, prisons often have to pay quite a premium to meet this obligationWhy and how can the prison system afford to pay so much?
Just wondering.
I presume the psychiatrists aren't willing to do the work because of the inherent danger?Prisons are legally obligated to provide adequate psychiatric services for prisoners per federal laws on the matter. A failure to do so is considered a violation of the civil rights of prisoners. Since most psychiatrists aren't willing to do the work, prisons often have to pay quite a premium to meet this obligation
Well, tske for instance if you've got a guy trying to fake his way into protective custody because he knows he is in trouble and you say he doesn't have mental illness and doesn't need it, he may be coming for you and your loved ones to do to you what was done to him for your perceived failure to save him. There's a lot of scenarios where prisoners will try to get things out of you and will hold it against you personally if you don't give them what they want. Medical services in most prisons are treated like holy ground, so you're fairly safe, but if you've got a lifer that has nothing to lose... You could be in danger.I presume the psychiatrists aren't willing to do the work because of the inherent danger?
I am not disputing that prisons aren't legally obligated to provide adequate healthcare be it mental or physical to the prisoners.
Whether they actually provide those services or not are two different things though.
That's some good money, but I would totally be afraid of the work.
Any specialty that makes significantly more than psychiatry is very different in terms of competitiveness, type of work and hours. If you are interested in psych but the mean income for 40-45 hrs/wk with little/no call is not enough for you, are you suddenly going to develop an interest in a subspecialty of surgery or IM, as well as an increase in work ethic, research, and scores?Just looking to get some different opinions, as I am a current medical student who is leaning towards psych but is hesitating because of the average salary.
I made the mistake of doing a corrections elective. It was soul sucking. I felt my skills atrophy. Limited resources, low standards, limited insight, limited personal responsibility, high incentive to remain "sick".Well, tske for instance if you've got a guy trying to fake his way into protective custody because he knows he is in trouble and you say he doesn't have mental illness and doesn't need it, he may be coming for you and your loved ones to do to you what was done to him for your perceived failure to save him. There's a lot of scenarios where prisoners will try to get things out of you and will hold it against you personally if you don't give them what they want. Medical services in most prisons are treated like holy ground, so you're fairly safe, but if you've got a lifer that has nothing to lose... You could be in danger.
The other major issues are that the formularies are limitied, the resources are scarce, and the degree of illness is often quite severe. Finally, prisons tend to be located quite far out of the way so there's the commute and living arrangements to factor in.
Any specialty that makes significantly more than psychiatry is very different in terms of competitiveness, type of work and hours. If you are interested in psych but the mean income for 40-45 hrs/wk with little/no call is not enough for you, are you suddenly going to develop an interest in a subspecialty of surgery or IM, as well as an increase in work ethic, research, and scores?
This isn't entirely true although I completely agree with your general point. IM is dramatically less competitive than psych these days and most people can use residency time to find away into procedural specialties (Cards, GI) if they only care about income. Anesthesia can be pretty wild with pay if you are willing to "supervise" a large number of CNAs and is pretty comparable to psych in competitiveness at present date. Heck Rad Onc from this last year was, in some metrics, one of the least competitive fields to match into. Honestly if pay was my biggest motivator, I would recommend completing a TY year in the Bay Area and look to get into VC, PE, or healthcare startups; the workload will make medicine look cush but the payments are certainly there if someone has the chops for it.
Exactly why most tech fixes in the medical space are flops and hype.Medical insight into tech comes from having ideas. To generate ideas you need to see problems. An intern only doc will not have had a enough time to see the breadth of problems to generate ideas nor experience in the health system to understand the workings to navigate it. A doc already post residency and in multiple practice settings will be a prime idea generator.
That's absolutely correct and true. This is someone looking at 260k average salary and thinking about completely rerouting their life to try and jack it higher. Seems like someone who might fit the pro-risk category who would try and swing for the fences. Would I recommend doing psych and then going into a cash practice (maybe after a few years employed) instead to someone who was really committed to the field and wanted to make more? 100% of the time. This OP looks more like someone who might want to play roulette more than be a psychiatrist and if that's the case the whole world is better served with them doing the thing they actually want rather than be unhappy as a psychiatrist.I'm not so sure I agree with that last assessment. As someone who worked in tech for years prior to medicine, doing a TY then landing a job at a healthcare start up or VC and making better than doctor money is so very far from a sure thing. I do agree about hours being worse than psychiatry however.
This is akin to throwing some money on a roulette wheel and landing a big pay off. There are far more very smart, very driven individuals who never make it big in the tech/start up world vs. those who do make it big. Making 250k as a non-programmer in tech would be the exception rather than the rule. But again, 250 in medicine is towards the lower end anyways for most specialities (assuming equal hours worked in tech).
Who says my interests only pertain to psychiatry? I have some interest in other specialties too, but I also want to be realistic with respect to my future career. I would want to do my due diligence and be sure I make an informed decision, which means gathering a sufficient amount of info and making a decision then.Any specialty that makes significantly more than psychiatry is very different in terms of competitiveness, type of work and hours. If you are interested in psych but the mean income for 40-45 hrs/wk with little/no call is not enough for you, are you suddenly going to develop an interest in a subspecialty of surgery or IM, as well as an increase in work ethic, research, and scores?
That's absolutely correct and true. This is someone looking at 260k average salary and thinking about completely rerouting their life to try and jack it higher. Seems like someone who might fit the pro-risk category who would try and swing for the fences. Would I recommend doing psych and then going into a cash practice (maybe after a few years employed) instead to someone who was really committed to the field and wanted to make more? 100% of the time. This OP looks more like someone who might want to play roulette more than be a psychiatrist and if that's the case the whole world is better served with them doing the thing they actually want rather than be unhappy as a psychiatrist.
For 95% of people I completely agree. I just find that people who are good or even decent fits for clinical medicine rarely discuss situations for people who end up not being a good fit for clinical medicine. One of my best friends from med school nearly dropped out at M4 year until great mentors opened his eyes do completing a TY year and then going into public health. Lo and behold he's a key cog in the COVID treatment for his area. The cost/time/effort of med school makes people reluctant but there are very successful people who completed their MD and then part or all of training before going into tech/law/VC/etc.Yeah that's fair. I think its important to accurately paint the long odds associated with this route. That may or may not have any bearing on their decision. But generally speaking, I think they would be better suited to be a locums monkey, work the prisons, do cash pay on the side (if they can find clientele for this is another matter) if their end goal is high income.
That may be tough to pull off since as a locums they are paying you to be their coverage. You could always do shorter assignments and take off time between assignments. Do you need that time off to be all in a row? If not, I suppose another alternative would be finding an inpatient gig that does the 7 on/7 off model.For those familiar with locums work - is there any chance to get set up with a job that allows for 10-12 weeks off a year? Would ideally do 4x10s then take a month off every few months. How much time off can you typically negotiate when you take a locums job?
For those familiar with locums work - is there any chance to get set up with a job that allows for 10-12 weeks off a year? Would ideally do 4x10s then take a month off every few months. How much time off can you typically negotiate when you take a locums job?
That would be unusual in my experience. To obtain that, you should do short-term assignments with vacation in between jobs.
If one had a long term locums job, how much time off can reasonably be obtained when signing the contract?
Long-term locums is similar to any long-term job. They are using the locum company to find someone and realize you may not be there but 1 year, more if lucky. Any week you take vacation, they probably have to pay a premium for a short-term locum to come in. That is expensive. 3-6 weeks vacation plus holidays is fairly typical.
The prison system in california pays well due to lawsuits, with the locums paying better. CDCR pays about $336k for a staff psychiatrist (up to $382k for a chief of psychiatry), with internal moonlighting being a low $157/hr, and the typical locums positions pay $250/hr but there are some correctional inpatient units than can pay up to $335/hr. How good that is depends on your frame of reference. there’s a reason they always hace vacanciesPrisons are legally obligated to provide adequate psychiatric services for prisoners per federal laws on the matter. A failure to do so is considered a violation of the civil rights of prisoners. Since most psychiatrists aren't willing to do the work, prisons often have to pay quite a premium to meet this obligation
That's about 200/hr for the cap job with no additional reimbursement for the call. That's actually a pretty bad deal.
Psych is one of the best "money to work ratio" specialties ever. There are very cush gigs out there in the 200k-300k range that are "full time" on paper only. If you really want to go work more than 40 hours and make $500k-1m, the sky is the limit.
What kind of jobs should one be looking at if they want a cush 200-300k job that allows for <40 hours a week. Would this be primarily inpatient?
Would I be explicitly searching for part time jobs? I've interviewed with a good number of places at this point and while income is mostly > 300k, I don't see how the outpatient jobs would be <40 hours per week. The inpatient jobs would potentially be <40 hours per week as you could go home after rounding.That's not that hard to do in any setting. Inpatient or outpatient.
Psych is one of the best "money to work ratio" specialties ever. There are very cush gigs out there in the 200k-300k range that are "full time" on paper only. If you really want to go work more than 40 hours and make $500k-1m, the sky is the limit.