I have been out of this forum for a while but thought i would post here being almost 2 years out of residency. After having a few medical students rotating with me stating that their " advisors" recommended not to pursue family medicine due to their high loans, I got quite upset.
First of all, money shouldn't be your main factor to choose your speciality. Choose what you like the most. You'll make good money in any field if you are a motivated hard worker.
Second, FM can make more than 200, 300k. In my residency program, I did a lot of procedures, both inpatient and outpatient, I rounded on ICU patients, managed vents, etc... I was always motivated to work efficiently .
In the outpatient setting, I could see easily 10-12 in a half day and thought that was not enough. I was bored, but couldn't see more due to the limited help provided by the MAs.
When I interviewed (same company I did residency with), I could see production numbers of some other offices where docs were making 400k+ a year. These are not common, most docs make in the mid 200s.
I'll spare you details, but I started at a 170k base salary, +production bonus. Outpatient only, 4 days a week, no weekends. I can take PRN shifts in urgent cares, inpatient, or house docs shifts.
Right now we are paid by productivity (wRVUs) model, or fee for service. This may change in the future, and some job offers now in the country offer a capitated system (you are paid a chunk amount per year per patient, no matter if you see them 10 times or 2 times per year).
I have the same system i used in residency so adaptation was easy. I trained my MA well and became productive quickly that I needed a second MA. An older doc retired last April so things got busier . I did about 320k last year, I'll be barely above 400k for 2016. All outpatient, 4 days a weekly, roughly 8 am I start, I finish my last patient around 5Pm, I am out the door before 6 with all paperwork done. Call schedule is 1 day out of 4. ( we get anywhere from 0 to 3 calls per night, rarely any after 10 PM).
I see about 32-40 patients daily, mostly in upper 30s.
When my students come, they realize how busy my practice is and it's all about efficiency, and billing.
Some might say , you don't spend enough time with patients with such volume? Again, efficiency. I know my patients very well. I spend minimal time on the computer, and my attention in the room is focused on the patient, not the screen. My MAs also are efficient and work the way I trained them.
How do you dictate, write notes, and put in orders? Do you have a scribe?
I've also been to see my colleagues at other offices. Some on them don't want to see more than 20 a day. But they spend a lot of time chit chatting with colleagues between patients, Google stuff on Internet, read the news, etc... I keep that for lunch time.