Honest Salary Questions

[eyesurg2012]

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Hey everyone,
I've pretty much gone through this entire forum and I've seen that overall, information about compensation in ophthalmology in this forum is either really murky or statistical avg's from various websites. I've also noticed that there is a lot of general angst about starting salaries,decreasing compensation and ophthalmology no longer being a ROAD specialty.
I am very interested in ophtho and will pursue it regardless. I understand that you should not make a decision based on money,but it is good to be informed.I just really want to know:
1.for a fellowship trained or non-fellowship trainedprivate practice physician NOT in a big city, what is a realistic starting salary to expect, how soon does this increase and generally how much
2. How does the future of Ophthalmology look in terms of physician compensation?
3.Why is Ophthalmology dropping off the ROAD spectrum?

Thank you so much!!

 

[JMK2005]

http://forums.studentdoctor.net/showthread.php?t=772463

 

[Visionary]

Hey everyone,
I've pretty much gone through this entire forum and I've seen that overall, information about compensation in ophthalmology in this forum is either really murky or statistical avg's from various websites. I've also noticed that there is a lot of general angst about starting salaries,decreasing compensation and ophthalmology no longer being a ROAD specialty.
I am very interested in ophtho and will pursue it regardless. I understand that you should not make a decision based on money,but it is good to be informed.I just really want to know:
1.for a fellowship trained or non-fellowship trainedprivate practice physician NOT in a big city, what is a realistic starting salary to expect, how soon does this increase and generally how much
2. How does the future of Ophthalmology look in terms of physician compensation?
3.Why is Ophthalmology dropping off the ROAD spectrum?

Thank you so much!!

There is a reason the numbers are "murky." If you check the link that JMK2005 posted, there are some good explanations why--some by yours truly. As to your specific questions, I'll give it a go.

1. For private practice comprehensive ophthalmology, you can probably expect a base salary from $125-150k in average-sized areas. There will be a productivity bonus above that, as well as other compensation, which can bring it closer to $200k. How soon it increases depends on your contract. An annual raise is expected during the associate period, which is usually 2-3 years. Once you buy in to the practice, your pay should jump considerably. How much it jumps, however, depends on your productivity, your practice mix (e.g., types of patients/procedures), the practice overhead, alternate revenue streams (e.g., optical, ASC), and the revenue distribution. Productivity can vary widely, as can practice mix and overhead. Your practice will either have alternate revenue streams or not, and that's something to consider when you're looking at jobs. Nowadays, revenue distribution is typically "eat what you kill." That means you take home what you collect, less overhead. Some older distribution models funneled more revenue to the more senior docs. Naturally, those have fallen out of favor. See why the numbers are "murky?!" With all that said, the average partner salary for comprehensive in average-sized areas is probably ~$300k. Of course, I know of some making well over $400k.

2. Ophthalmology just got an overall increase with the CMS realignment, but that helped some more than others. My practice is heavy on imaging and injections, so the hits to those reimbursements will sting a little. Overall, ophthalmology should do okay, as it's viewed as closer to primary care than a lot of specialties.

3. I don't know who came up with the ROAD specialty designation, but I think it's kind of silly. While radiology, ophthalmology, anesthesiology, and dermatology are all specialties with a good mix of compensation and lifestyle, they are individually VERY different. Of the four, I would never have considered any other than ophthalmology. Pick something that interests you, for Pete's sake! If you just want money and lifestyle, medicine is the wrong career for you anyway!