How to make 7 figures in anesthesia

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I know some pain guys do it, are there other avenues to high incomes? Owner of a large group? Etc etc

 

[ambiturner]

Run a group, steal from your underlings. Especially effective in academics!

 

[dchz]

Just do it over 10 years.

Easy

 

[deleted59964]

how about working in the Middle East?

 

[chocomorsel]

I know some pain guys do it, are there other avenues to high incomes? Owner of a large group? Etc etc

Thought you were already making this when you took over the CRNA group.

 

[dhb]

how about working in the Middle East?

Nope

 

[nimbus]

Busy OB.

 

[T-burglar]

7 figures might be possible in an operating room if you work your ass off and have a very lucrative caseload every single day (i.e. pretty difficult to do)

 

[caligas]

Production group and Q2 call

 

[Psai]

Make a group, lie to a bunch of unsuspecting new grads, sell group to big management company, profit!

 

[pgg]

how about working in the Middle East?

Too hot.

Siberian gulags may be hiring, but that's too cold.

A North Korean or Chinese re-education camp might be the sweet spot, weather-wise.

 

[Stank811]

I know some pain guys do it, are there other avenues to high incomes? Owner of a large group? Etc etc

Find a location with good payer mix and get ready to work.

 

[Mman]

Find a location with good payer mix and get ready to work.

it helps to also have revenue streams unrelated to patient care such as real estate and facility ownership. People who think their work income needs to all come from patient care are limiting their potential.

 

[Mr.S]

it helps to also have revenue streams unrelated to patient care such as real estate and facility ownership. People who think their work income needs to all come from patient care are limiting their potential.

Its easier said than done.

What facility is going to let an anesthesiologist buy into? What free standing facility is NOT at risk right now of either bankruptcy or outright insolvency or being taken over by a larger entity? Just not savvy move right now given the climate of craziness. The business of healthcare is not transparent enough for me to invest in. Even as an anesthesiologist working in a group. I dont trust these other guys as far as I can throw them. And Im going into business with them? Puh-leez.

If you had said making youtube videos, etc i would have agreed with you.

In answer to the OP question about making 7 figures in anesthesia.

Nobody is going to let this happen.

 

[deleted162650]

Team up with some ortho/neuro guys that have a busy boutique spine/total joint practice on privately insured patients only. Supervise 4:1.

It’s possible. Ask JPP.

 

[Mman]

Its easier said than done.

What facility is going to let an anesthesiologist buy into? What free standing facility is NOT at risk right now of either bankruptcy or outright insolvency or being taken over by a larger entity? Just not savvy move right now given the climate of craziness. The business of healthcare is not transparent enough for me to invest in. Even as an anesthesiologist working in a group. I dont trust these other guys as far as I can throw them. And Im going into business with them? Puh-leez.

Plenty of private groups have ownership interests in such facilities. And if you don't trust your partners in a group, well that's what written contracts are for and maybe you shouldn't be joining said group. Just don't complain about the money they are making...

 

[ERRES2288]

From my understanding in talking to others as a resident if you are willing to move then 500-700k is pretty doable if willing to work hard in private practice. More likely will end up around 400k if not flexible. But a million? Get outta here unless you have ownership in facilities.

 

[Man o War]

Facility shares/ownership and working a ton. If you can find a desperate hospital within driving distance and have a nice PP job with lots of vacation, you can get a nice locums deal there and increase your income.
Or be a super partner in a huge group that requires buy ins of new docs.

 

[Stank811]

Its easier said than done.

What facility is going to let an anesthesiologist buy into? What free standing facility is NOT at risk right now of either bankruptcy or outright insolvency or being taken over by a larger entity? Just not savvy move right now given the climate of craziness. The business of healthcare is not transparent enough for me to invest in. Even as an anesthesiologist working in a group. I dont trust these other guys as far as I can throw them. And Im going into business with them? Puh-leez.

If you had said making youtube videos, etc i would have agreed with you.

In answer to the OP question about making 7 figures in anesthesia.

Nobody is going to let this happen.

don’t let everyone know that It has occurred and will continue to occur to those willing to work and be creative

 

[Man o War]

Its easier said than done.

What facility is going to let an anesthesiologist buy into? What free standing facility is NOT at risk right now of either bankruptcy or outright insolvency or being taken over by a larger entity? Just not savvy move right now given the climate of craziness. The business of healthcare is not transparent enough for me to invest in. Even as an anesthesiologist working in a group. I dont trust these other guys as far as I can throw them. And Im going into business with them? Puh-leez.

If you had said making youtube videos, etc i would have agreed with you.

In answer to the OP question about making 7 figures in anesthesia.

Nobody is going to let this happen.

My group has ownership interest in facilities we work at, and so does another big group I know of close to here. I make more % wise return off that investment than any other in my portfolio.
And if you do pain lots of pain docs have shares in ASCs.

 

[Psai]

7-Figure Anesthesia Salaries?

 

[Mr.S]

My group has ownership interest in facilities we work at, and so does another big group I know of close to here. I make more % wise return off that investment than any other in my portfolio.
And if you do pain lots of pain docs have shares in ASCs.

umm, yeah! Nobody is taking on partners in facilities right now.
But i am very happy for you.

 

[Mr.S]

7-Figure Anesthesia Salaries?

7 year old thread and most of the people who responded did not believe it. I still dont believe it.
mid 400s is the high end for full call and vested.

IF you were in the practice in Charlotte 15 years ago and were in for a while.. You were golden.
Now we truly have been screwed in a huge huge way.

 

[Man o War]

umm, yeah! Nobody is taking on partners in facilities right now.
But i am very happy for you.

Well I know for a fact that isn’t true.
You don’t have any idea what you’re talking about.

 

[anbuitachi]

7 year old thread and most of the people who responded did not believe it. I still dont believe it.
mid 400s is the high end for full call and vested.

IF you were in the practice in Charlotte 15 years ago and were in for a while.. You were golden.
Now we truly have been screwed in a huge huge way.

blame the ppl at the top!

 

[Man o War]

7 year old thread and most of the people who responded did not believe it. I still dont believe it.
mid 400s is the high end for full call and vested.

IF you were in the practice in Charlotte 15 years ago and were in for a while.. You were golden.
Now we truly have been screwed in a huge huge way.

This is also false. Mid 400s is not high end for anesthesia.

 

[Mr.S]

Well I know for a fact that isn’t true.
You don’t have any idea what you’re talking about.

OK, then enlighten me to where I can buy shares in a surgery center or an endosocpy center and get a ROI thats reasonably commensurate with what I put in with FULL transparency.

 

[Mr.S]

This is also false. Mid 400s is not high end for anesthesia.

Ok then what is?
I know dozens and dozens of docs in different groups in different parts of the country and I know how much they make.

 

[anbuitachi]

Ok then what is?
I know dozens and dozens of docs in different groups in different parts of the country and I know how much they make.

mid 400s probably median salary i would say. though allt his stuff is misleading cause it obviously depends on how much you work

 

[Man o War]

OK, then enlighten me to where I can buy shares in a surgery center or an endosocpy center and get a ROI thats reasonably commensurate with what I put in with FULL transparency.

OK, then enlighten me to where I can buy shares in a surgery center or an endosocpy center and get a ROI thats reasonably commensurate with what I put in with FULL transparency

My group and the big group across town. One of the local residents from last year’s class here took a job in the Midwest at an ortho specialty hospital that gave him a full prospectus upon signing-‘he has to do 2 years there and then he’s eligible to buy in.
Almost every pain doc I know has facility ownership.
The opportunities are out there.

 

[Man o War]

Ok then what is?
I know dozens and dozens of docs in different groups in different parts of the country and I know how much they make.

Every 3 years when we renegotiate our contract we have a minimum of 2 consultants come in with data. Mid 400s is median. MGMA supports this as well...although I think last MGMA was 420s Median if I’m remembering right.

 

[btbam]

I know a guy who owns multiple pain clinics who just sold a majority stake in them for $30 mil so there’s always that route...

 

[ZzzPlz]

7 year old thread and most of the people who responded did not believe it. I still dont believe it.
mid 400s is the high end for full call and vested.

IF you were in the practice in Charlotte 15 years ago and were in for a while.. You were golden.
Now we truly have been screwed in a huge huge way.

OK, then enlighten me to where I can buy shares in a surgery center or an endosocpy center and get a ROI thats reasonably commensurate with what I put in with FULL transparency.

You need to broaden your search. Come out to bfe and work your tits off. The sky is the limit my friend

 

[deleted162650]

Just curious: when you guys throw numbers out, are you talking w-2, w-2 + bennies, total revenue before overhead??

 

[chocomorsel]

OK, then enlighten me to where I can buy shares in a surgery center or an endosocpy center and get a ROI thats reasonably commensurate with what I put in with FULL transparency.

Jeez, do you know everything about everything? Are you omnipotent?
Can anyone tell you or teach you anything?
You are @FFP on steroids.
Chill a bit.

 

[Mr.S]

You need to broaden your search. Come out to bfe and work your tits off. The sky is the limit my friend

The sky is the limit but first the management company/hospital/ takes their .3333.
Medscape: Medscape Access

This seems fairly accurate.
A buddy of mine does locums and he is having trouble getting the equivalent of 360K. That's leaving your place of residence to live in a whole other place. EVEN rural.
so tell me more about the skys the limit.

 

[deleted171991]

Jeez, do you know everything about everything? Are you omnipotent?
Can anyone tell you or teach you anything?
You are @FFP on steroids.
Chill a bit.

Why don't YOU chill, instead of insulting people, two in one post?

 

[chocomorsel]

Just curious: when you guys throw numbers out, are you talking w-2, w-2 + bennies, total revenue before overhead??

600 to 700s is to be had in places like Indiana, Wisconsin. If I could only deal with the cold, and/or full supervision models.

 

[Mr.S]

Jeez, do you know everything about everything? Are you omnipotent?
Can anyone tell you or teach you anything?
You are @FFP on steroids.
Chill a bit.

I don't know everything about everything. I know something about some things. AND I can pretty much guarantee that nobody is making 7 figures doing anesthesia unless something is up.

 

[chocomorsel]

Why don't YOU chill, instead of insulting people, two in one post?

It’s reality. You were the most cynical on this board.
But you’ve been dethroned.

 

[chocomorsel]

I don't know everything about everything. I know something about some things. AND I can pretty much guarantee that nobody is making 7 figures doing anesthesia unless something is up.

Your claim about 400s being the high end is false.
You know something about some things. As in some salaries. Not about all salaries.
Plenty of people are making more than 500s.

 

[nimbus]

MGMA median, 75th and 90th percentiles are pretty accurate.

 

[pgg]

Please cut the sniping and condescending sneering at each other.

 

[anbuitachi]

i haven't looked at mgma methodology in a LONG time. do they include academics? 9-3 endo centers? probably everything? all this survey stuff only gives you a rough idea. but yea i just applied for jobs and i saw a lot of jobs ~400 range, not even in rural area. but you work hard!!

 

[deleted171991]

It’s reality. You were the most cynical on this board.
But you’ve been dethroned.

I may be cynical, but your unpleasantness is nothing to write home about either.

 

[chocomorsel]

I may be cynical, but your unpleasantness is nothing to write home about either.

Haha. Preach on brother! Preach!!!

 

[Man o War]

Just curious: when you guys throw numbers out, are you talking w-2, w-2 + bennies, total revenue before overhead??

Just curious: when you guys throw numbers out, are you talking w-2, w-2 + bennies, total revenue before overhead??

Just compensation- bonuses, call pay, base pay, etc. for the consultants. I believe MGMA
Is also only compensation. K1 income reporting for them includes more line items, so may include more.

 

[Man o War]

i haven't looked at mgma methodology in a LONG time. do they include academics? 9-3 endo centers? probably everything? all this survey stuff only gives you a rough idea. but yea i just applied for jobs and i saw a lot of jobs ~400 range, not even in rural area. but you work hard!!

I’m assuming it includes everything- our consultants have an “everything” number and then a more practice specific number. The practice specific number was much higher for us since we aren’t academics and we produce a lot of RVUs vs what they say is an “average” practice RVU wise. That’s really the only fair way to value a practice.

 

[chocomorsel]

The sky is the limit but first the management company/hospital/ takes their .3333.
Medscape: Medscape Access

This seems fairly accurate.
A buddy of mine does locums and he is having trouble getting the equivalent of 360K. That's leaving your place of residence to live in a whole other place. EVEN rural.
so tell me more about the skys the limit.

I did locums last year. Had I done it full time I would have made 560K 1099 for 46 weeks. And they needed people.
Heck I may go back if they still do. Lol.

 

[anbuitachi]

I did locums last year. Had I done it full time I would have made 560K 1099 for 46 weeks. And they needed people.
Heck I may go back if they still do. Lol.

wats the hrly rate?

Thats the thing with our field, our range is pretty small, and we easily reach a 'cap', to break it we got to do something ridiculous, like own a surg center, or do fellowship, go into pain, and open/join lucrative practice.

Was just looking at neurology forums, guy says hes making 600k working like 20 weeks a yr. basically other fields are a lot more flexible if you want to make more. a lot harder for us since our HOURly wage is on the lower side, and we already work a lot of hrs