I am a new family medicine residency graduate looking at jobs in the Midwest. I am trying to decide between a private practice comprised of 20-40 primary care doctors, and a medium sized hospital employed job. Both seem like great positions with fairly similar pay and earning potential. I understand the essential differences between being part owner and being employed, but I am having a very difficult time deciding. Can anybody shed some light on differences that might not be readily apparent, and might only be realized after 5, 10, 30 years of practice? Something like, "when I started off in private practice 'x' years ago, I wish I would have known 'blank'"