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- Sep 22, 2001
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Hi there. I enjoyed reading this thread. After 5 years in private practice, I think that it is pointless to believe that any specialty really has an advantage over others in "lifestyle." Your lifestyle is what you make it, hopefully guided by your own life priorities. I know internists that work their butts off and others that work 3.5 days a week. I know CT surgeons that work like dogs and others that keep a leisurely pace, spend time with the kids, and go on a lot of vacations.
There are always trade-offs. Sure you might make more money as hospitalist or a radiologist. Then again, some people like the security of not needing referrals and having 3-4,000 people (or more!) say "Dr. X is MY doctor, I wouldn't go anywhere else!" (Beware though, patients can be very fickle too!)
In a proper market we would be compensated for our time spent, the risk we assume, and our level of expertise/skill, but honestly it's pretty skewed.
One thing is for sure, and that is docs don't get nearly enough business training, then we are expected to go out and run a practice (usually dealing with anywhere from $500k to multi-million $$$ of revenue and expenses,) with little experience.
The other thing is politics. Most people coming out of training have no idea of the brutal politics of medicine. Mostly, like all politics, it's about money and power, but somehow we think medicine is immune to that. It's not, it's just like any other business where a lot of $$ are flying around. Sadly, patients get the most hurt. However, lots of docs also get badly wounded, driven out of communities, reputations destroyed, etc....all due to politics, money, power, greed. Because many of us train in academic centers we are shielded from it. (Those centers, of course, have their own politics too but residents are mostly not involved in it.)
Anyway, to get back to the point: Private practice is a rude awakening but we still have the power to mostly make what we want out of our careers. There are always trade-offs between location, competition, salary, work-hours, risk, reward, expenses, etc. But, that's true of any career. You just have to become aware of the factors then tailor your practice to meet your own goals and priorities!
Neville Sarkari, MD
Internist, Private Practice
There are always trade-offs. Sure you might make more money as hospitalist or a radiologist. Then again, some people like the security of not needing referrals and having 3-4,000 people (or more!) say "Dr. X is MY doctor, I wouldn't go anywhere else!" (Beware though, patients can be very fickle too!)
In a proper market we would be compensated for our time spent, the risk we assume, and our level of expertise/skill, but honestly it's pretty skewed.
One thing is for sure, and that is docs don't get nearly enough business training, then we are expected to go out and run a practice (usually dealing with anywhere from $500k to multi-million $$$ of revenue and expenses,) with little experience.
The other thing is politics. Most people coming out of training have no idea of the brutal politics of medicine. Mostly, like all politics, it's about money and power, but somehow we think medicine is immune to that. It's not, it's just like any other business where a lot of $$ are flying around. Sadly, patients get the most hurt. However, lots of docs also get badly wounded, driven out of communities, reputations destroyed, etc....all due to politics, money, power, greed. Because many of us train in academic centers we are shielded from it. (Those centers, of course, have their own politics too but residents are mostly not involved in it.)
Anyway, to get back to the point: Private practice is a rude awakening but we still have the power to mostly make what we want out of our careers. There are always trade-offs between location, competition, salary, work-hours, risk, reward, expenses, etc. But, that's true of any career. You just have to become aware of the factors then tailor your practice to meet your own goals and priorities!
Neville Sarkari, MD
Internist, Private Practice