Future of Ophthalmology?

[donutprincess]

Hey guys, I need your help.
I really like ophthalmology; I did a rotation and I fell in love. I understand that it's one of the most competitive fields, but lets assume that matching into a program is not an issue. I'm concerned about the future of ophthalmology in terms of work and salary. I've shadowed and gotten close to two ophthalmologists, and they've both hinted, or at least mentioned, to me their actual salaries. They're likewise worried about ophthalmologists making less money in the future. As of right now, one of them can't even break $200,000/year, and the other one makes in the low $200,000s. I looked online and there have been so many variations as to lifestyle and salary. I'm sorry to say this but I don't want to bust my ass for years for only $200,000/year in a field that could possibly dying.

For anyone who has been in the business or knows someone in the ophtho field, do you have any input or insight about this?

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[IslandStyle808]

Here is one question I have, are these big city docs (i.e. population > 1 million)?

 

[FourniersGreenGang]

Are they mostly procedural (lots of cataract surgeries)?

 

[cowme]

They make more than 200k on average, but it's probably closer to the 250-300 median income range. The people you're talking to either work in manhattan or have incredible vacation and hours benefits.

But a word of advice: do what make you happy

Salaries will change drastically in 6 years for every field. Chase the high paying one now, you could still end up making 200k--it just won't be in what you love

 

[Psai]

They make more than 200k on average, but it's probably closer to the 250-300 median income range. The people you're talking to either work in manhattan or have incredible vacation and hours benefits.

But a word of advice: do what make you happy

Salaries will change drastically in 6 years for every field. Chase the high paying one now, you could still end up making 200k--it just won't be in what you love

If you're in private practice, it's not really salary or income. It's reimbursement. That's the difference between being beholden to someone for getting a piece of the money you earned and receiving the full amount for your services.

 

[cowme]

Thanks for that enlightening addition to this discussion

I'm sure OP was far more concerned about what to call the annual money in his paycheck than the actual money.

 

[VA Hopeful Dr]

Thanks for that enlightening addition to this discussion

I'm sure OP was far more concerned about what to call the annual money in his paycheck than the actual money.

It actually was a very good point, it just appears to have gone over your head.

It's the difference between keeping what you bring in versus being paid a salary that is likely less than what you're actually worth.

 

[Psai]

What it is called makes a huge difference in how much there is. If you're part of a corporate conglomerate taking half of your collections and paying you a salary, you'd be making much less than what you would as a private business owner with your own office and billings. I'd say that this is related to op's concerns.

 

[Mr Roboto]

What it is called makes a huge difference in how much there is. If you're part of a corporate conglomerate taking half of your collections and paying you a salary, you'd be making much less than what you would as a private business owner with your own office and billings. I'd say that this is related to op's concerns.

What is it called when you're a contracted employee who is paid by the hospital, mostly based upon RVUs generated?

 

[cowme]

Whatever you want to call

What it is called makes a huge difference in how much there is. If you're part of a corporate conglomerate taking half of your collections and paying you a salary, you'd be making much less than what you would as a private business owner with your own office and billings. I'd say that this is related to op's concerns.

I'm not really sure what you are arguing with me about. Corporate conglomerates do exist, and they occupy a large market in many fields, including optho. Whether you wanna call it salary, reimbursement, compensation it's all the same=your paycheck. And We're talking overall numbers here for the average opthomologist, and the reality is compensation isn't much higher than 200k for most. Some still make bank, but ways to become that top percentile optho is another discussion altogether.

 

[Psai]

I'm not arguing. I'm trying to explain something but you seem to not get it for some reason.

 

[KHE]

As of right now, one of them can't even break $200,000/year, and the other one makes in the low $200,000s. I looked online and there have been so many variations as to lifestyle and salary. I'm sorry to say this but I don't want to bust my ass for years for only $200,000/year in a field that could possibly dying.

For anyone who has been in the business or knows someone in the ophtho field, do you have any input or insight about this?

Something is wrong there. I'm but a lowly optometrist and I make a fair amount more than that.

 

[LePepe]

Something is wrong there. I'm but a lowly optometrist and I make a fair amount more than that.

Wait... really? You make more than 200k as an optometrist??

 

[DrfluffyMD]

Wait... really? You make more than 200k as an optometrist??

He probably owns his practice. My local chain optotometrist office schedule appointment for me by themselves once a year.

 

[bannie22]

Thats inappropriate for a regular optometrist to be making 200k. No wonder the government is all over cutting health care salaries...

 

[Warderino92]

Personally I believe that if they are a practice owner there is nothing wrong with 200k. Risking capital for returns is simply business.

 

[pre med 2014]

Maybe they were just teasing a medical student?




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[dadaddadaBATMAN]

Whatever you want to call


I'm not really sure what you are arguing with me about. Corporate conglomerates do exist, and they occupy a large market in many fields, including optho. Whether you wanna call it salary, reimbursement, compensation it's all the same=your paycheck. And We're talking overall numbers here for the average opthomologist, and the reality is compensation isn't much higher than 200k for most. Some still make bank, but ways to become that top percentile optho is another discussion altogether.

He's pointing out that you've made the assumption that op will be employed, which is a poor assumption.

It's an important distinction because that frame of mind has two problems with it

1.) it turns compensation into a black box that you don't understand

2. That ignorance leaves you vulnerable for the ongoing corporate rape of medicine

It might be pedantic, but I agree with him.

Thats inappropriate for a regular optometrist to be making 200k. No wonder the government is all over cutting health care salaries...

What? You know nothing about the dude. He/she could be working 80 hrs a weeek, or be supervising multiple optometrists in a group practice. He is providing a service, one which is presumably valued.

the goal of society should be to bring everyone's income up as high as possible, not **** over the people on the top until we're all equally miserable

 

[SurfingDoctor]

What's the future of Ophthalmology? It's kinda hard to see...

 

[JohnWill30]

What's the future of Ophthalmology? It's kinda hard to see...

 

[SurfingDoctor]

Sorry, there was just an urge to type it.

On a serious note though, there is unpredictably in all future job markets. Nothing is a sure bet of what the market for a specific field will look like a decade down the road. Thus, while it is reasonable to consider what the future of a particular field will look like in the future, the best bet is if you like what you are doing, probably best to go into that and try to make the field better prospectively.

 

[KHE]

What? You know nothing about the dude. He/she could be working 80 hrs a weeek, or be supervising multiple optometrists in a group practice. He is providing a service, one which is presumably valued.

the goal of society should be to bring everyone's income up as high as possible, not **** over the people on the top until we're all equally miserable

I'm a partner in a three doctor private practice.

Thats inappropriate for a regular optometrist to be making 200k. No wonder the government is all over cutting health care salaries...

I'm not a regular optometrist. I'm a really good one.

 

[Anicetus]

Lol at the jimmies rustled on SDN as they worry about only making 200k. #entitlement

There is nothing "inappropriate" about an optometrist making over 200k in private practice.

In fact I can't even wait until the rubber band effect when trump is out of the White House for the first socialist to come along and f*** all your incomes.

 

[dadaddadaBATMAN]

Lol at the jimmies rustled on SDN as they worry about only making 200k. #entitlement

There is nothing "inappropriate" about an optometrist making over 200k in private practice.

In fact I can't even wait until the rubber band effect when trump is out of the White House for the first socialist to come along and f*** all your incomes.

I agree about the optomotrist part, but the rest of that post is pretty weird man. Also pretty masochistic.

If you don't want to make money for some reason after you finish residency you can donate the majority of your salary to the charity of your choice. Good luck

 

[zero0]

Lol at the jimmies rustled on SDN as they worry about only making 200k. #entitlement

There is nothing "inappropriate" about an optometrist making over 200k in private practice.

In fact I can't even wait until the rubber band effect when trump is out of the White House for the first socialist to come along and f*** all your incomes.

You know, it'll effect you too.

As for ophthalmology, the thing killing them is the same thing killing all other areas of medicine: midlevel encroachment and oversaturation. There's just more and more people clawing their way to get a piece of the healthcare pie every year, and the pie ain't gettin' any bigger.

 

[akinetopsia]

You know, it'll effect you too.

As for ophthalmology, the thing killing them is the same thing killing all other areas of medicine: midlevel encroachment and oversaturation. There's just more and more people clawing their way to get a piece of the healthcare pie every year, and the pie ain't gettin' any bigger.

I wouldn't say there's midlevel encroachment in ophthalmology, but saturation is definitely an issue. It's not like there are NPs or PAs doing ophthalmic surgeries (that I know of). I know in some states optometrists are looking to expand the scope of their practice but that's the exception, not the rule, and optometrists are not midlevels.

I think the bigger issue in ophthalmology is a decline in reimbursements, which has been going on since the 1990s, so to support the same practice, appointments have to be shorter and the physicians have to see more patients.

 

[VA Hopeful Dr]

You know, it'll effect you too.

As for ophthalmology, the thing killing them is the same thing killing all other areas of medicine: midlevel encroachment and oversaturation. There's just more and more people clawing their way to get a piece of the healthcare pie every year, and the pie ain't gettin' any bigger.

No, the thing hurting ophthalmology is declining cataract reimbursement

 

[zero0]

I wouldn't say there's midlevel encroachment in ophthalmology, but saturation is definitely an issue. It's not like there are NPs or PAs doing ophthalmic surgeries (that I know of). I know in some states optometrists are looking to expand the scope of their practice but that's the exception, not the rule, and optometrists are not midlevels.

I think the bigger issue in ophthalmology is a decline in reimbursements, which has been going on since the 1990s, so to support the same practice, appointments have to be shorter and the physicians have to see more patients.

Eh the moment non-physicians start trying to do physician things, they fall under the umbrella of midlevel encroachment to me. I get that optometry is dying and that they have to branch out, but when people push the boundaries of their training it's the patients that suffer.

 

[dankasprick83]

I just finished interviewing for comprehensive ophthalmologist jobs and the average starting compensation on an associate contract is in the 200-275k range with partners in successful private practices easily making double that or more. Sub specialists generally start 50-75k higher (or more if vitreoretinal). Location does matter with lower salaries in highly sought after locations but we are talking areas like downtown Manhattan etc. How much you can earn in the field should be a non issue.