How much do you earn in outpatient California?
Started by RainySmiles
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What's the purpose of the question? Do you care about gross or net?
I'd hope full time + work would be more than TPMG public job listing salary:
I'd hope full time + work would be more than TPMG public job listing salary:
Yes, the reason you want to know this would be most helpful. I can tell you the average VA salary in an average CA town (which is Congressionally mandated to be average for an area) is about $340k not including benefits. SF/LA would be higher, but geographically at least...most of CA is not SF or LA.
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I am asking if it makes sense to start an insurance based practice or staying at my current job which is coporate medicine, somewhat stable but I really hate admin
Why don't you just try to get 3-5 contracts from insurance companies and estimate your payor mix and appointment types yourself? It'll be less at the beginning because you'll be doing more 90792/99205 rather than 99214+90833 but you should get a sense of it.
Starting your own practice is more lucrative than having someone else take overhead. It's more so the administrative, business, marketing, networking, decision making that you don't have to worry about in a bigger employed practice where you're not a shareholder and eats up your time.
in addition, starting your own practice you can deduct way more than being employed and also save more into retirement so financially speaking even if you make exactly the same, you'll probably pay less in taxes.
the bigger reason in my opinion to start your own practice is autonomy. i love my autonomy and being able to take on patients that i want, take time off when i want, not have to deal with someone elses approval for changes to my schedule or to my patient load, be creative in my treatment approaches if i want to add on a service like TMS or ketamine or such, the potential to expand with adding on another psychiatrist or therapist, and more.
Too many variables. Here is a basic visualization.
Year 1: expect to lose money. Have a 2nd job to make ends meet. Market heavy.
Years 2-4: Make less money than a regular job. Work harder. Market
Years 5: It starts to pay off. The longer you are in the game, negotiate contracts higher, more follow-ups, etc. the better. Expect more frustrations with hiring, managing, etc to earn that extra money.
Year 1: expect to lose money. Have a 2nd job to make ends meet. Market heavy.
Years 2-4: Make less money than a regular job. Work harder. Market
Years 5: It starts to pay off. The longer you are in the game, negotiate contracts higher, more follow-ups, etc. the better. Expect more frustrations with hiring, managing, etc to earn that extra money.
