That makes sense... Why would someone spend 11 yrs in school to make 150-200k/yr?
Some MDs make that ballpark too (pediatrician).
Benefits are rarely discussed here because most podiatrist in PP get zero benefits. A new grad believes that an employer paying for malpractice is counted as benefits. Sounds as ridiculous as your landlord saying your luxury apartment comes with a bathroom.
...and everyone is still disgruntled, LOL
They should be discussed.
Not sure I agree with this one. Though anecdotal, of four prospective employers I talked to while applying for jobs this past winter only one didn't discuss benefits. He very might have well offered benefits, but I didn't really take the guy and his pay offer seriously enough (30% straight, no base, with questionable patient load) to dig any deeper. All of these PP employers were in Texas, if that matters.
You are probably correct unless lack of referrals made PP go away entirely in certain markets. Otho groups are not going away anytime soon, so there would always be opportunities there if they are podiatry friendly.
Insurance companies will ultimately be the ones to decide the future of the Private practice model. And I don't think PP will ever go away. The insurance companies will rather deal (bully) a PP than fight with a hospital group. Just like insurance companies had a direct hand in the evolution of private surgery centers (to compete with hospitals and reduce cost) because it saves them money. Insurance companies decided to reimburse well for surgery center and every corner shop opened a surgery center in the past 2 decades. On the other hand, insurance companies can also kill surgery centers if they decide to slash reimbursement so it goes both ways. Remember when everyone said obamacare will be the end of the PP model due to new regulations, EHR etc but look where we are. PP model is still strong and not going anywhere.
I realize that this question is very situation dependent, but based on what you mentioned in this post, would you recommend new grads avoid the instant gratification of the higher salaried hospital jobs and rather pursue something like a PP orthopedic group where the initial income may be lower (but not significantly) but the ceiling is likely higher in regards to pay? Essentially the less glamorous early years building the practice will be all worth it in the end..
Every situation is different and unique so there isn’t one answer for something as broad as you mentioned. From my own experience, at my prior ortho job, my income was decent and it was purely reflective on how hard I was willing to work (bring in new patients, cases, DME, etc etc) because volume will determine your ceiling. In my current MSG job, my pay is based on wRVU which technically doenst have a ceiling because if I want to work more, I earn more as the backlog of referrals just keep growing. It’s nice to have a steady stream of patients without having to do a lot of self marketing and such. Your choice, if you can find these jobs.
Many hospital jobs are becoming more like PP podiatry (because they acquired PP podiatrists in some markets) with much better benefits and a higher base. Lots of office with typical mix of PP patients and surgery maybe half day a week, with only the occasional hospital patient. Many regular posters on here have worked at hospitals in more underserved areas and had lots of trauma and diabetic foot, so the hospital jobs vary. It is certainly not unheard of for your salary to decrease initially when you go off the income guarantee at a hospital for podiatry or any other specialty. Some go straight wRVU and others are a combination base, wRVU and maybe other factors like satisfaction scores.
I was bored so I liike to browse. I considered podiatry but I am a dentist. New grad no residency in a non saturated can do $150k-$200k realistically. With a 1 year advanced residency you can make more. I know most of the people I stay in touch with are 2-3 years in with no residency and are at $250-$320k as general dentists. Only 4 years of school and no residency just to add to the convo. Podiatrists seem to do very well though. You all are highly trained with the 3 year residency so I hope you guys get paid fairly. Cheers.
How much debt do you or your colleagues have?
I have $169k (went in state). Other colleagues were less $120-$150k again in state school that offered a lot of scholarship. I have other friends that were $250k and went to private but parents helped a lot. It all depends on where you go. Private dental School is the death of you financially and forces you to work a lot or buy a practice and stress a lot. I know some people in the $400k+ range and this is what they do.
No there is a threshold. Above 3k RVUs each one generated is 55 bucks. Most of the time the 3k is even math in terms of base, but sometimes can be tiered. And remember not all RVUs are equal. Some contracts have a sliding scale like fee for service. My last job I got 100 percent of each RVU.
Offer is whatever wRVU generate multiplied by 55. 275k is base but if you generate 6000 wRVU then you get 6000 times 55. But if you generate less than 5000 you still get 275k guaranteed for first two years. So you don't make less than 275k for the first two years but you can make more if you generate more than 5000wRVU. Hope that clarifies it.
True. There are some family physicians I work with that do put in time. They take call, round, ER, do scopes and some OB. But because they refer to the specialists and order labs and images at the hospital I think they get subsidized (legally on their wRVUs/ base of course) on the other stuff they do and one I work with will be close to 500k this year.
How many patients are you seeing per day? Seems too good to be true. In rural or urban setting? That's a great contract. Haven't been able to negotiate 6 weeks off. Most offers have been 4 weeks off.
not sure how can generate those many rvus without OR...must be a lot of people.
My set up is very similar but I’m in OR 1-2 days per week so that generates a lot of wRVU for me. But sadly I don’t get a chunk off time like that, let alone 6 weeks! But I can’t complain about the pay and benefits, it’s awesome.
Im rural. It’s a little more complicated than that what I wrote. My wRVU is based off a 250k base. I have some other clinics that I do that pay daily rate with no bonus. Those other clinics I counted into my base but I do 4-6 of those clinics (depending on patient load) a month in other towns, the more I do the more I get paid, and do surgery there but those don’t count to the bonus. So it’s a combination of base, bonus, other clinics.
A big positive for dentistry is no residency. Dental school is more expensive but you can start making real money 3 years sooner.
Dentists don't have to accept Medicare or private insurance. You can literally set your own prices. You can increase the prices every year.
+ no insurance or midlevel issues. Great deal if you don't graduate from NYU
Where are these 300K jobs at? lol. First year out i made 177K, i'm not year 4 of practicing and this year should be around 218K, but put up with a lot of B.S :-(
Always looking for better opportunities, currently see 50+ patients a day and do nursing homes. where out west?lol
50 x low per patient visit of $100 = $5000 per day x 250 work days in a year = $1.25m. Even if you worked for $50 per person and clipped nails all day thats over 600k. You're just getting a third of that... eesh. I wouldnt walk, but run from your current situation.
You are getting ripped off big time. I’m sorry 4 years later this is happening. You should look over your numbers and GTFO
Derm? Radiology (sort of, not really)?
