My view of doctors was mostly outpatient clinic with set hours. Is it rare to set up your career like that? Is the pay worse? What are the pros and cons in general??
Its not rare. The pay depends on what kind of clinic you run. Outpatient cosmetic dermatology: amazing. Outpatient family practice: 150-250K/year depending on your business model. Outpatient Pediatrics Genetics: 100-180K/year.
Pros:
1) Regular hours
2) Relatively low risk, malpractice can happen anywhere but it happens more often in an ED, on a floor, in OR, or in an ICU
3) A lasting relationship with your patients. On the ward you mostly see patient's once, for a week, and the patients you get outpatient practices can establish relationships with you that lasts for years
4) Own your life. In the hospital everyone is their own separate chain of command: the subspecialits you consult, the nurses, the RTs, etc. There are committees to deal with true patient care issues, but if there's an interpersonal conflict it basically never gets solved, because there's no common boss to solve it. On the other hand clinics are often doctor run, which does cut down on the amount of drama.
5) You're helping. Statistically clinics, especially primary care clinics, are shown to significantly improve the health of a community, and the fees you charge likely won't bankrupt anyone.
Cons:
1) Clinic is boring. A lot of the fun is figuring out what a complicated patient has and how to fix them. Subspecialists manage patients with known diagnoses. Generalists diagnoses patients who, 95% oft the time, don't have anything interesting wrong with them in the first place
2) Clinic feels like an assembly line. See a patient, fix a patient, document a patient, 20 minutes. If they're the interesting patient it sucks because it still stalls the line and now all of your subsequent patients get seen late and they start their appointments pissed. Its a grind.
3) Low margins means a relatively ugly atmosphere. In the hospital you're basically playing with monopoly money: the beds are five figures a day and the tests are five figures a pop. It bankrupts your patients and our government but for you it means there are a lot of little extras: ambiance, offices, etc. A financially clinic, though, runs on relatively modest fee for appointments, which means to stay profitable they need to keep costs low.
4) While there are exceptions yes, it usually does pay less.