just out of curiousity

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Is there a reason why most psychiatrists doesn't go out and run a 'boutique', cash-only psychiatry practice? What does it take in order to do such a thing; in order to get the patients you want, and the amount of money you think you deserve?

 

[Miklos]

Is there a reason why most psychiatrists doesn't go out and run a 'boutique', cash-only psychiatry practice? What does it take in order to do such a thing;

Just guessing, a large enough patient population that has plenty of disposable income to cover one's fees.

 

[Anasazi23]

I've asked this same question of attendings and graduating residents. The answer I get most often is that people enjoy the low stress, "all included" hospital packages with minimum of paperwork (residents do it), guaranteed predictable decent paycheck, included insurance, and consistent hours.

I hear, whether it's correct or not, that working in a hospital (even though for a lower salary) can be more satisfying in that you can concentrate on patients and not on the "business," and the headaches that come with running one. It's just not worth it to some people to try and make the jump from a guaranteed $115,000 with bonuses to the potential $150,000 -$400,000+ that can be had in private practice.

 

[MDgonnabe]

I hear, whether it's correct or not, that working in a hospital (even though for a lower salary) can be more satisfying in that you can concentrate on patients and not on the "business," and the headaches that come with running one.

amen. if i felt i could tolerate the business end of things, i wouldn't have dedicated my life to medicine. simple as that.

 

[OldPsychDoc]

Is there a reason why most psychiatrists doesn't go out and run a 'boutique', cash-only psychiatry practice? What does it take in order to do such a thing; in order to get the patients you want, and the amount of money you think you deserve?

You pretty much have to do it that way if you're going to be a psychoanalyst--but most of us want to spend our time helping the people who NEED helping (and using modalities that might actually have some demonstrated benefit ).

Face it, most of the patients who who be able to pay for that kind of botique psychiatric practice are functioning well enough to not need it. (Unless you want to do child and treat their spoiled kids!)

 

[mosche]

amen.

I second MDgonnabe and OldPsychDoc! I work for Kaplan and, also, a private high school in the city where I attend to med. school. I have actually had parents complain that "little Timmy is having to deal with sooo much right now and, on top of everything else, his new car wasn't available in the color that he wanted--unless it was special ordered, which could take TWO WEEKS!" 😱 😱

 

[Anasazi23]

Then again, I plan on running to private practice as soon as I'm able. I think I have a decent business mind, and wouldn't mind operating my day to day workings as such. I've seen psychiatry private practice models in action (very successful ones), and they look infinately more satisfying than hospital-based work for me. I just cannot stand JCHAO or whatever the hell it's called, their constant demands for more and more pointless forms, and hospital beaurocracy with its unending idiotic and meaningless paperwork. I know that private practice has billing and paperwork headaches as well, but at least you have motivation for doing do. The majority of hospital paperwork is absolutely useless and serves no purpose other than to quiet credentialers and surveyers.