Doctors do not make that much money in future

[Carefree]

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You know stock market went up and down. Internet bubble burst. Housing market down in 1990. All cycles go up and down.

Medicare pay cut for doctors are going up every year. When medicare cuts, private insurers follow. Still, there is craze for this doctor profession. Only 1 in 3 are accepted and $160000 tuition fees. Doctors minimum salary now is $100000.

Are we all following others like the sheep?
Why is there so much interest in MD/DO?

 

[Enginerd42]

You know stock market went up and down. Internet bubble burst. Housing market down in 1990. All cycles go up and down.

Medicare pay cut for doctors are going up every year. When medicare cuts, private insurers follow. Still, there is craze for this doctor profession. Only 1 in 3 are accepted and $160000 tuition fees. Doctors minimum salary now is $100000.

Are we all following others like the sheep?
Why is there so much interest in MD/DO?

Stop it

 

[ASDIC]

thats what u think....

physicians will infact will be making more cuz of the aging population and the obese lifetyles of people.

http://www.allied-physicians.com/salary_surveys/physician-salaries.htm

 

[Carefree]

Medicare is in trouble now like social security. With the new prescription drug benifit, Medicare fund will go down further. Medicare tax is not being increased. More people are getting older. Big pharma charges retail prices to medicare. There is a limited money in medicare fund. If there is no money in medicare how can they pay doctors in future? They must cut the payment to somebody.

 

[Carefree]

Exxon-mobil want to sell few gallons at a higher price rather than more gallons at low price. Similarly, doctor need to treat few patients at high rate. I am not talking about supply of doctors or patients. I am talking about payment per patient.

 

[veenut]

you sound like a fortune cookie

 

[toxin]

you sound like a fortune cookie

😛

 

[BaylorGuy]

Medicare pay cut for doctors are going up every year. When medicare cuts, private insurers follow. Still, there is craze for this doctor profession. Only 1 in 3 are accepted and $160000 tuition fees. Doctors minimum salary now is $100000.

Minimum salary is $100000....a year. I'm pretty sure there are a lot of people who would be happy at that salary. But also keep in mind that its a minimum salary. Work a couple of years, do some research, you'll wind up in the higher brackets.

 

[sgrnspc]

bigger question: why are you in it for the money??
there are so many EASIER and CHEAPER ways to be Mr./Ms. Big Bucks than following the MD track.
if that is your only reason, then you're wasting your time... 😎

 

[AxlxA]

Money IS a main factor in any profession. Let's say you are given 2 job opportunities doing the same exact thing but with different salaries. Let me guess, you'd take the higher pay one?

As for choosing medicine, money was a major factor in my decision because i was raised by parents who have experienced the worst of poverty in China. Other than money, there is no nobler career than being a physician.

$100,000 is quite alot for an average person. infact, it's 2x as much. And like someone already mentioned, that number is the minimum of starting md's. in a few years, after some more research and fellowships, you may earn much more than that depending on the amount of sacrafice you're willing to make. We are all choosing a career, a profession, for the rest of our lives. Why not make it profitable?

You wont want to go through all the stress of schooling and only make $50k a year.

 

[CTSballer11]

Money IS a main factor in any profession. Let's say you are given 2 job opportunities doing the same exact thing but with different salaries. Let me guess, you'd take the higher pay one?

As for choosing medicine, money was a major factor in my decision because i was raised by parents who have experienced the worst of poverty in China. Other than money, there is no nobler career than being a physician.

$100,000 is quite alot for an average person. infact, it's 2x as much. And like someone already mentioned, that number is the minimum of starting md's. in a few years, after some more research and fellowships, you may earn much more than that depending on the amount of sacrafice you're willing to make. We are all choosing a career, a profession, for the rest of our lives. Why not make it profitable?

You wont want to go through all the stress of schooling and only make $50k a year.

I see where you are coming from. My father grew up poor as dirt and he instilled his values in me, I also have a few uncles in the profession as well. Salaries go in cycles, I am not worried at all.

 

[tacrum43]

Doctors minimum salary now is $100000.

So? That's a very good salary in most areas, and that's only when they first start.

 

[obgyny]

bigger question: why are you in it for the money??
there are so many EASIER and CHEAPER ways to be Mr./Ms. Big Bucks than following the MD track.
if that is your only reason, then you're wasting your time... 😎

here, here!! 🙂

 

[tigress]

If I have to work in the current healthcare system I better get a good salary.

If I could work in a functioning healthcare system in which people could actually get healthcare, I wouldn't mind making less money.

 

[gujuDoc]

If I have to work in the current healthcare system I better get a good salary.

If I could work in a functioning healthcare system in which people could actually get healthcare, I wouldn't mind making less money.

For real!!!!!!! 👍

 

[MahlerROCKS]

thats what u think....

physicians will infact will be making more cuz of the aging population and the obese lifetyles of people.

http://www.allied-physicians.com/salary_surveys/physician-salaries.htm

I'm going into infectious disease, too bad they make **** compared to most doctors

 

[clc8503]

bigger question: why are you in it for the money??
there are so many EASIER and CHEAPER ways to be Mr./Ms. Big Bucks than following the MD track.
if that is your only reason, then you're wasting your time... 😎

We'll see how you feel about making less money when you're busting your A$$, trying to pay back a $100,000 - $200,000 loan. You might even ask yourself why you pursued the profession in the first place. To be a doctor doesn't mean you have to sacrifice 100% in order to make someone else comfortable. There comes a time in everyone's life when they have to think about themselves as well. That being said, I really want to be a physician because of a combination of rewarding experiences. You get to make a difference in the quality of someone's life while making a tremendous amount of money than the average person. Is money everything? NO. Is it a very important factor? ABSOLUTLY! I have met many physicians that have said they would not do it again if they had to. Many have said they have made too many sacrifices. Wouldn't you like to know that if you fell into this category that you were at least receiving some sort of reimbursement in the end? I would like to stress that my thoughts are merely my opinion. Since this is my opinion is not a fact and any of you are more than welcome to disagree with it. I apologize if my post sets any of you at boiling point. This is merely my opinion which I am more than entitled to.

 

[SanDiegoSOD]

Are we all following others like the sheep?

I'm not. Are you?

 

[BaylorGuy]

We'll see how you feel about making less money when you're busting your A$$, trying to pay back a $100,000 - $200,000 loan. You might even ask yourself why you pursued the profession in the first place. To be a doctor doesn't mean you have to sacrifice 100% in order to make someone else comfortable. There comes a time in everyone's life when they have to think about themselves as well. That being said, I really want to be a physician because of a combination of rewarding experiences. You get to make a difference in the quality of someone's life while making a tremendous amount of money than the average person. Is money everything? NO. Is it a very important factor? ABSOLUTLY! I have met many physicians that have said they would not do it again if they had to. Many have said they have made too many sacrifices. Wouldn't you like to know that if you fell into this category that you were at least receiving some sort of reimbursement in the end? I would like to stress that my thoughts are merely my opinion. Since this is my opinion is not a fact and any of you are more than welcome to disagree with it. I apologize if my post sets any of you at boiling point. This is merely my opinion which I am more than entitled to.

Well said.

 

[Sicilian]

Doctors minimum salary now is $100000.

This definitely needs to go up.

Definitely. The problem is lack of marketing potential. You can't advertise a doctor the way you do an NBA star. For one thing, most docs don't come close to topping the attractiveness scale (e.g. bulging biceps, for women the other bulge, etc, plus the obsession with slimness our culture has (which in some ways is a good thing) Basically, this is why you don't see the Surgeon General drinking gatorade or selling cars... if people saw doctors on television, it would appeal to their hypochondriac tendencies. So.... I think that unless you're an actual doctor or an aspiring doctor, you don't think about illness unless it actually comes your way (directly or indirectly). Our culture celebrates youthfulness and vigor of life, not death. Religion teaches pity, but ours is also a secular culture, so most people are not overly pious (under normal circumstances). Anyway, all of this notwithstanding, most doctors I know own quite a bit of real estate so I don't think the salary thing matters that much.

Are we all following others like the sheep?
Why is there so much interest in MD/DO?

Well think about it. You don't have to wait around to get a promotion. You get to be your own boss and people respect you automatically. And of course the money. Don't believe people when they say its not for the $$$. For the vast majority, it IS. Imagine if doctors were paid what schoolteachers are?

 

[penguinophile]

Exxon-mobil want to sell few gallons at a higher price rather than more gallons at low price. Similarly, doctor need to treat few patients at high rate. I am not talking about supply of doctors or patients. I am talking about payment per patient.

Just out of curiosity, have you ever taken an econ course? If not, then you definitely should. Best kind of course outside of chemistry! Its all about providing until MR=MC

 

[Law2Doc]

You know stock market went up and down. Internet bubble burst. Housing market down in 1990. All cycles go up and down.

Medicare pay cut for doctors are going up every year. When medicare cuts, private insurers follow. Still, there is craze for this doctor profession. Only 1 in 3 are accepted and $160000 tuition fees. Doctors minimum salary now is $100000.

Are we all following others like the sheep?
Why is there so much interest in MD/DO?

Where are you getting these numbers? According to AMCAS about 50% of applicants get in, not 30%. There are certainly doctors who earn less than $100000 after residency, so that is simply not the "minimum" - but most earn more, and most specialties have starting salaries above that figure. While I agree that medical incomes are gradually going down, and that few on here will have the kind of earning potential that docs a few decades ago did, I wouldn't worry too much. The internet bubble burst because it was shown that the market valuation was well above the real value -- in medicine it's probably more like the reverse (especially, as mentioned, with the increasing demand for healthcare coming from the aging baby boomers).

 

[Andrew_Doan]

thats what u think....

physicians will infact will be making more cuz of the aging population and the obese lifetyles of people.

Not necessarily, MediCare (the main payer for the above population) cannot sustain more growth in reimbursements. In fact, I've been to Washington D.C. to lobby for physicians, and Congress is cutting back 4-5% in physician reimbursements for the next 5 years.

Consider my blog on this and how this affects academic medicine, which suffers in any pay cut: http://www.medrounds.org/blog/2005/06/crisis-in-academic-publishing-and.html

 

[will8570]

You guys, you are kind of missing the big picture here. Doctors have been saying that the sky is falling for decades, and yet they are still the highest paid professionals period. Don't believe me? Go to this link
Salary info

Second, there is no better job security than in medicine. Think about it. People will ALWAYS need health care, and therefore even in a depression-like situation doctors will still be safer than everyone else. The reason you hear a lot of docs complaining about their incomes is that they made tremendous sacrifices that maybe they shouldn't have or that they didn't have to and they are seeking reparations for those. But, if you asked them how much would be enough, I don't think you'd get a straight answer.

Third, the docs you see with really nice stuff are typically generating more income through their investments than through their practices, which is not uncommon among high-paid professionals. And you guys, don't be worrried about earning only a hundred thousand a year, I think you'd really have to try to end up only making that kind of bread. Most of the docs I know make more than a half million a year just through their practices. Lets put things in perspective. A CRNA (Nurse Anethetisist) starting salary is well over a hundred thousand a year and many of them earn around 200.

If you are concerned with money, first ask yourself how much you think you need to earn. And then evaluate how much of a lifestyle that would provide you with. I'm betting that most of you think you need a lot more money than you actually do. This is a pretty cool link to a forbes article you should read if this concerns you: click here

Next, you can always choose a specialty that pays way above average, such as anesthesia or radiology. I mean, pediatricians have never made great money and that probably won't change, but you won't see too many orthopedic surgeons living in the ghetto.

Finally, and most importantly, being fiscally responsible and investing will insure that your lifestyle will be great. To give you a perspective, I'm thinking of a female doctor with an annual overall income well over 1.5 million dollars, and about six hundred of that is her takehome pay, and the rest is investment money in rental properties, side businesses, dividends, etc, and guess what: Shes 48 and makes more money every year.

Anyways, in conclusion I would just say that people concerned about money as a reason to not go into medicine are really missing the boat. Its a labor of love and if you don't want to do it than don't do it. But this is a forum dedicated to people who want very much to go to medical school, so I don't understand why people like the OP come into the forum and look for excuses to not go to med school. One thing is for sure, and that is that if you don't go someone else will certainly step up and take your spot. Okay I'm through 😎

 

[bwells46]

You know stock market went up and down. Internet bubble burst. Housing market down in 1990. All cycles go up and down.

Medicare pay cut for doctors are going up every year. When medicare cuts, private insurers follow. Still, there is craze for this doctor profession. Only 1 in 3 are accepted and $160000 tuition fees. Doctors minimum salary now is $100000.

Are we all following others like the sheep?
Why is there so much interest in MD/DO?

I don't care. I'm not in it for the money. If I was only interested in money, I'm be using my master's in business to get a finance job instead of doing CKD research and applying to medical school.

 

[Andrew_Doan]

Anyways, in conclusion I would just say that people concerned about money as a reason to not go into medicine are really missing the boat. Its a labor of love and if you don't want to do it than don't do it. But this is a forum dedicated to people who want very much to go to medical school, so I don't understand why people like the OP come into the forum and look for excuses to not go to med school. One thing is for sure, and that is that if you don't go someone else will certainly step up and take your spot. Okay I'm through 😎

I agree with a lot of what you say. However, the financial future of medicine is not certain in this country. Consider this article: http://www.infinityhealthsolutions.org/content/view/17/1/

I agree that physicians make high salaries and can make their money work for them, consider these threads:

http://forums.studentdoctor.net/showthread.php?t=101742

http://forums.studentdoctor.net/showthread.php?t=194496

I've always said: if you love what you do then the money is icing on the cake, do what you hate then the money becomes a shackle that binds you to the thing you despise.

 

[clc8503]

I've always said: if you love what you do then the money is icing on the cake, do what you hate then the money becomes a shackle that binds you to the thing you despise.

Very Nice!