What current doctors are saying!!!

[JanikeyDoc]

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I have spoken with a few doctors lately about going to medical school. They have been both DO and MD. Some are Hospitalist, GI, ER, and Family Doctors. All of them have said that medical school is not financially lucrative anymore and they wish that they would have gone to be a nurse practitioner or some midlevel so that they could be with thier family more and make almost the same amount of money. I have been contemplating the same about NP or DO. Family is very important to me and I have other aspirations such as cooking and real estate. However, I need to be in a profession that would allow me to pay off a substantial amount of student loans (roughly $120,000-$160,000) and still be able to live in nice house and have good vacations for the family and be comfortable. I also don't want to deal with the "midlevels are doctor wannabes" either. I know that I would take care of my patients and that is what matters to me. Has anyone else experienced this feedback from physicians and what are your plans?

I wouldn't trust what people say, some people succeed in life and others do not. I know a lot of doctors who have done well for themselves. Everything in life is what you make of it in my opinion. If you listen to other people's negative comments you will never achieve nothing in life.

 

[futureboy]

If you look at this link:
http://www.bls.gov/oco/ocos074.htm#earnings

you see that the median wage for an FP doc with more than a year under his/her belt is around $156K a year; about $8K a month after taxes. I can't imagine anyone being unhappy on that amount of money.

Yeah, the $120,000 sounded a bit low. Also, I believe the averages reported for each specialty on salary surveys usually include part time physicians. Depending on many factors such as location, style of practice, etc., primary care physicians can make much more than the average. Check out the SDN specialty forums for more information on salaries (particularly the FP forum).

 

[JanikeyDoc]

A lot of family doctors I have met in South Florida earn a lot more than 150k a year. An FM I personally know nets in 300k to 400k a year from his practice, he works extremely hard though. I know doctors who work in rural areas earn a lot because they have less competition from other doctors.

If you are worried about money, you should get into a specialty, then it should not be an issue. I actually visited a DO Gastroenterologist over a year ago, and I would wager that he is making seven figures, looking at how much he billed my insurance and the sheer volume of patients that he receives.

 

[Semicolon]

A lot of family doctors I have met in South Florida earn a lot more than 150k a year. An FM I personally know nets in 300k to 400k a year from his practice, he works extremely hard though. I know doctors who work in rural areas earn a lot because they have less competition from other doctors.

If you are worried about money, you should get into a specialty, then it should not be an issue. I actually visited a DO Gastroenterologist over a year ago, and I would wager that he is making seven figures, looking at how much he billed my insurance and the sheer volume of patients that he receives.

Seven figures?...C'mon, let's be real here. 😀

Yeah, most of the doctors I've spoken to (whether they knew me well or not) would usually cite financial issues within the practice of medicine, and many of those advised me against going into medicine. Of course, I didn't listen too much. 😉 However, I'm under the impression that this is a highly regional phenomenon; in the NYC metro area physicians seem to make considerably less than in other regions of the country (probably because the market is so saturated here?).

 

[JanikeyDoc]

Seven figures?...C'mon, let's be real here. 😀

Yeah, most of the doctors I've spoken to (whether they knew me well or not) would usually cite financial issues within the practice of medicine, and many of those advised me against going into medicine. Of course, I didn't listen too much. 😉 However, I'm under the impression that this is a highly regional phenomenon; in the NYC metro area physicians seem to make considerably less than in other regions of the country (probably because the market is so saturated here?).

I know someone who is a physician recruiter, she said its not uncommon for GIs to earn near 7 figure incomes. Many in private practice can net around 800k a year. Judging from my GI's fees and the number of patients he sees, its not a stretch to say that he makes a cool million a year. Some other fields are super lucrative. Radiologists can easily earn in the seven figure range, especially with their own practice. Cardiology is another super lucrative field. I read about a Cardiologist in New York who makes over $3 million a year, he is some kind of big time doctor at Mt. Sinai. Some other unique fields are high paying, the head Reproductive Endocrinoligist at Cornell makes around $3 million a year and he is considered one of the highest paid people to work for a non profit organization,

Dr. Rosenwaks is his name:

http://www.nydailynews.com/ny_local...columbia_dermatology_professor_tops_nonp.html

Article about the Mt. Sinai Cardiologist, who is also an FMG:
http://www.businessweek.com/magazine/content/07_44/b4056062.htm

PS, the GI I went to see works in Long Island. I would agree that NYC is very saturated and these doctors are at the top of their profession. I actually think Florida overall is better than New York for a few obvious reasons for physicians.

Regardless, as future physicians I do not see us starving or living in poverty.

 

[niranjan162]

I know someone who is a physician recruiter, she said its not uncommon for GIs to earn near 7 figure incomes. Many in private practice can net around 800k a year. Judging from my GI's fees and the number of patients he sees, its not a stretch to say that he makes a cool million a year. Some other fields are super lucrative. Radiologists can easily earn in the seven figure range, especially with their own practice. Cardiology is another super lucrative field. I read about a Cardiologist in New York who makes over $3 million a year, he is some kind of big time doctor at Mt. Sinai. Some other unique fields are high paying, the head Reproductive Endocrinoligist at Cornell makes around $3 million a year and he is considered one of the highest paid people to work for a non profit organization,

Dr. Rosenwaks is his name:

http://www.nydailynews.com/ny_local...columbia_dermatology_professor_tops_nonp.html

Article about the Mt. Sinai Cardiologist, who is also an FMG:
http://www.businessweek.com/magazine/content/07_44/b4056062.htm

PS, the GI I went to see works in Long Island. I would agree that NYC is very saturated and these doctors are at the top of their profession. I actually think Florida overall is better than New York for a few obvious reasons for physicians.

Regardless, as future physicians I do not see us starving or living in poverty.

its impossible to judge by his fees how much he makes.

1. you dont kno his overhead for running the pracctice vs how much he actually gets from that.

2. physician recruiters throw around high numbers to get clients to use them.

 

[JanikeyDoc]

its impossible to judge by his fees how much he makes.

1. you dont kno his overhead for running the pracctice vs how much he actually gets from that.

2. physician recruiters throw around high numbers to get clients to use them.

Well doctors do very well relative to the general population, very few doctors starve or live in poverty. Unfortunately many doctors usually come from upper middle class or upper class backgrounds and tend to complain about their lot in life. Take it with a grain of salt. I have done some pretty harsh back breaking jobs in my younger years, doctors have a good life and live a life of privilege.

 

[123165]

I suppose, the only thing I would worry about is being caught in some form of transition. A more universal healthcare system takes over, and physician reimbursement drops to the point most make 100k or less. I would worry about this happening and finishing medical school before tuition drops. Then I would be stuck with a huge debt with an unexpectedly lower salary to pay it off.

It is a stretch, but sometimes I think about it.

 

[niranjan162]

Well doctors do very well relative to the general population, very few doctors starve or live in poverty. Unfortunately many doctors usually come from upper middle class or upper class backgrounds and tend to complain about their lot in life. Take it with a grain of salt. I have done some pretty harsh back breaking jobs in my younger years, doctors have a good life and live a life of privilege.

Alright people who say that doctors do well relative to the general population are *****s. They dont just magically do so much better than everyone else. They HAVE 3x THE TRAINING then THE AVERAGE PERSON.

The more difficult the path and the more specialized the skill set the more society values it, get it?

Have you ever worked as a doctor, of course not, because it takes years of hard training. So you really dont know how hard it is.

Ive worked alotta crappy jobs. Like the harsh back breaking jobs you talked about (i did construction).

everyone complains rich poor doesnt matter, its human nature.

Doctors work extremely hard. They EARN every penny they make. Another reason they make more than the average person is because they also work nearly twice as much as the average person.

Medicine is both physically and mentally demanding.

 

[niranjan162]

I suppose, the only thing I would worry about is being caught in some form of transition. A more universal healthcare system takes over, and physician reimbursement drops to the point most make 100k or less. I would worry about this happening and finishing medical school before tuition drops. Then I would be stuck with a huge debt with an unexpectedly lower salary to pay it off.

It is a stretch, but sometimes I think about it.

theres gonna be a big lag between reimbursements dropping and tuition dropping. Basically when people realize its not financially smart to take on all that debt for the payment and the shortage of doctors becomes even worse it when this will change.

 

[cliquesh]

If you didn't know, roughly 6% of individuals and 16% of housholds in the US make 100k/yr or more.

 

[123165]

theres gonna be a big lag between reimbursements dropping and tuition dropping. Basically when people realize its not financially smart to take on all that debt for the payment and the shortage of doctors becomes even worse it when this will change.

This is exactly my point, reimbursement will go down, and it will be a while before tuition follows. This could leave some people in tight financial situations.

 

[Semicolon]

This is exactly my point, reimbursement will go down, and it will be a while before tuition follows. This could leave some people in tight financial situations.

Some of us will already be in very tight situations...

Man, I don't want to think about what may be coming... Obama's lucky; doctors can't go on strike.

 

[pdeco1]

Talk to 10 different people and you get 10 different responses. How you gauge them is up to you.

My primary care NP told me that if I had any interest to go to med school. She performs 70-80% of the same functions as the doctor she works under and is compensated 70-80% less.

If you want a family so bad, become a teacher!

 

[JanikeyDoc]

Alright people who say that doctors do well relative to the general population are *****s. They dont just magically do so much better than everyone else. They HAVE 3x THE TRAINING then THE AVERAGE PERSON.

The more difficult the path and the more specialized the skill set the more society values it, get it?

Have you ever worked as a doctor, of course not, because it takes years of hard training. So you really dont know how hard it is.

Ive worked alotta crappy jobs. Like the harsh back breaking jobs you talked about (i did construction).

everyone complains rich poor doesnt matter, its human nature.

Doctors work extremely hard. They EARN every penny they make. Another reason they make more than the average person is because they also work nearly twice as much as the average person.

Medicine is both physically and mentally demanding.

Yeah sure. I know a lot of doctors, there are many professions that are just as stressful. I think soldiers and policemen come up as much more stressful, those are fields where a bad day means your dead.

 

[MossPoh]

Some of us will already be in very tight situations...

Man, I don't want to think about what may be coming... Obama's lucky; doctors can't go on strike.

Sure they can. They do in Germany all the time. 😛

Their strikes are really well thought out though. Most people that are going to the doctor aren't dying, so it tends to become a bit of a selective strike.

 

[blondeshell15]

I have received the following responses from physicians, after telling them I was accepted to medical school:

"I'm sorry"
"......run!"
"You're too pretty to become miserable"

...the physician I shadowed told me CONGRATULATIONS!! and I looked at him weird LOL

 

[Cp22kjer]

I have received the following responses from physicians, after telling them I was accepted to medical school:

"I'm sorry"
"......run!"
"You're too pretty to become miserable"

...the physician I shadowed told me CONGRATULATIONS!! and I looked at him weird LOL

It's depressing! I've been told numerous times, "it's not the same anymore"....

 

[liquid8r]

I traveled back to my rural hometown to get my physical and immunizations completed for school. I had been secretly coveting this moment because my family physician had written me a letter of rec and had pushed me in high school to excel and become a physician.

However, during the exam, my physician was very inquisitive about my future career goals. I mentioned an aspiration for primary care and I received a mixed reaction at best. I thought my family doc would be proud. I wanted to follow in his/her footsteps! It will stick with me for a long time.

After some time to reflect, it comes down to this for me: if I can position my children to have a better life than myself, I have done my duty as a parent. This career will allow me to do that and hopefully save a few lives along the way. It may be a bumpy ride, but what career isn't?

 

[Bleurberry]

Was this message brought to us by the RNC?
"city dwellers are lazy and don't know the true value of work"
lol! J/k thanks for sharing your bio.

Hi,

What I'm about to write may seem abrasive to some, but I will speak how I see the world. I grew up on a dairy farm. I spent 18 years working from 6:00 AM until 10:00 PM all year long....with going to school, etc, etc. Then I graduated high school and my parents retired from farming. So I was out of a way to make an income. I was hoping to still work on the farm until I figured out what I wanted to do with my life and what I was good at. Therefore, I got a job at a feed mill, worked in a factory (2x), worked at a car repair shop, got laid off twice, got a job picking rocks to eat, got a couple of summer jobs stacking hay in the barn, and so much more. I know what hard work is like. I know what not having a single dollar in the checking account feels like.

So one day I got a job at a hospital. I just randomly applied for job with not expecting a phone call....I had nothing in my resume that related to working with people or in the health care setting. I was literally shocked that I got called in for an interview. So I went in for the interview and was hired a couple of weeks later. When I left that job to move for school, I asked my boss why she hired me. She said, "well, I could tell you were a hard worker. I've hired enough "city" dwellers over the past several years who leave the job because it is hard work. I had a feeling that you wouldn't mind working hard." She was right! I was the only person out of the whole department that loved the job! Everyone else just bitched left and right about how bad their life is and how they hate their job. It turns out that I LOVED working in a hospital setting.

So I spent over three years working that hospital position and tried to figure out if I wanted to do bench research or become a doctor. When I went to college, I did basic research and did stuff at a hospital. I wanted to be in the hospital when I was in the lab!!!!!!!!!!!!! When I did the volunteer stuff and shadowing stuff in the hospitals, almost everyone was bitching about this and that and here I was, a little meaningless nobody that loved the envrionment (remember, I already knew about the paper work, how mean patients can be and ignore adivce, doctors complaining about this and that). Guess what? The bitching and complaining occured in all three hospitals/clinics I"ve been at. I've only met a couple of doctors that actually love what they do.

Having to work hard, work long hours, etc, is new to A LOT of people when they are done with schooling. Most people have never worked a full eight hour shift until after college. I've been doing that for a good 23 years now (before, during and after college). NOT working all day bothers the crap out of me. I once asked my supervisor when I was purging patient charts if I could come in at 6:00 AM on a Saturday morning to get the B's done. She gave me a really weird look and asked me why I would want to get up early on a Saturday morning for and why I would even think about coming in on the weekend for when this is only a volunteer thing. I simply said, "this won't get done if nobody does it." She wouldn't let me get the work done. By the time I got to the C's, she told me to leave the volunteership so others had a chance to do this in the future. This was two years ago already and I know they are not even done with the D's yet....lol, lol, lol.

About medicine, it wouldn't be so bad if the medical school debt wasn't so huge.

Everyone tells me that I'm the hardest working person and the nicest and happiest person they have ever met. How many people do you know that would work a third-shift night auditor position to pay for school? Most people would work at a coffee shop part-time during the day and ask mom and dad to help pay the rent/school.

My neighbors hate their life! Most of my relatives hate their life. Most people that I met in college hate their life (small liberal arts college). Most people that I went to college with bitched about how bad the party scene was. Me, I just went to the library, went to work, watched sports and enjoyed myself and just ignored their bitching.

I always see people complaining about how boring Iowa is. Its like, WTF people, can't you just enjoy what nature gives us and be happy for once?

sure you won't make a lot of money, but so what. I'm working at building at Internet based business and my goal is to simply pay myself a salary of $25,000 a year and keep the rest in another account to keep the money in the company.

 

[BruceBanner]

Frankly, if you have talked to 10 doctors and 7 of them implore you to reconsider your career path, you are a FOOL for not listenting to them. You may still end up going, but at the very least you should seriously consider the opinions of those who are already working physicians. As a pre-med, no matter how many cool EC experiences you have or how many uncles/friends/brothers you have who are docs, you are still on the outside looking in.

Listening to what established practioners have to say is wise, not counterproductive. Just dont take it all to heart, like their assessment of medicine is the forecast for your life career.