- Joined
- Sep 28, 2007
- Messages
- 102
- Reaction score
- 7
When I chat with physicians in other specialties about my decision to go into psych (which I have a lot of opportunity to do since I am on surg right now). I have heard multiple times about psychiatrists who start out being employed by their community hospital, getting disgruntled and then leaving and setting a private practice where they are happier with the setup and make way more $$$$.
While I personally see the appeal of being employed and not having to worry about hiring/firing, office space, setting up a practice, etc.,especially when coming out of residency in debt and in need of income. I wonder if in the long run I would be more happy being my own boss and more in control of my time.
So here are my q's:
Does this vary state to state? I am in the upper midwest.
Do you make lots more $$ in private practice? If so, why and how?
Are you even taught in residency how to go about setting up your own business?
If not, would the best way to learn about this be to have sort of a mentor, someone who has a set-up similar to what you envision?
I chatted with a physician recruiter from my hometown and was told there they offer a signing bonus, moving allowance and a 2 year income guarantee to set up a private practice. This seems like a good thing to me, is this common?
While I personally see the appeal of being employed and not having to worry about hiring/firing, office space, setting up a practice, etc.,especially when coming out of residency in debt and in need of income. I wonder if in the long run I would be more happy being my own boss and more in control of my time.
So here are my q's:
Does this vary state to state? I am in the upper midwest.
Do you make lots more $$ in private practice? If so, why and how?
Are you even taught in residency how to go about setting up your own business?
If not, would the best way to learn about this be to have sort of a mentor, someone who has a set-up similar to what you envision?
I chatted with a physician recruiter from my hometown and was told there they offer a signing bonus, moving allowance and a 2 year income guarantee to set up a private practice. This seems like a good thing to me, is this common?