What do you guys think are the various paths a doc could take to make major $$

[0TopCat0]

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Before I get a horde of angel pre-meds lecturing me on the fact that becoming a doctor isn't about money, I just want to post a disclaimer.


DISCLAIMER
This is simply for discussion purposes....


So I was thinking, one of the major benefits of becoming an MD (from a business POV) is that any book, blog, etc. that you write, is automatically granted credence due to the degree.

There are tons of guys who have found a niche in the health/fitness industry these days (such as Mark Sisson from Marksdailyapple, Mark Rippetoe, Kelly Starrett, Sanjay Gupta, David Agus and the famous Dr. Oz)


What do you think are some good/cool ideas/things doctors could capitalize on, things that would require their knowledge, to make a living, instead of going the route of traditional MD graduates?

 

[Koalafied]

Medical Sales Rep. Lots of money ($$$$$$$$$$$$$$$$$$$$$$$$$).

 

[ChemEngMD]

Go work for a pharmaceutical company straight out of a MD/MBA program...no residency required...I mean ethically you're probably not doing great, but you can get that dough $$$$

 

[0TopCat0]

Medical Sales Rep. Lots of money ($$$$$$$$$$$$$$$$$$$$$$$$$).

Really? I thought their salaries were around 180-200k after commissions, I'm gonna look into that 🙂🙂

 

[Stagg737]

If you can do the work, be an MD and a lawyer. A kid I knew in undergrad's dad did that and made bank since he didn't have to pay malpractice insurance and other doctors kept him on retainer.

 

[Gauss44]

Invest well and early.

 

[mcloaf]

How the **** did Mark Rippetoe end up in this thread?
Do you even lift?


In answer to the question, invent an awesome medical device and patent it.

 

[0TopCat0]

How the **** did Mark Rippetoe end up in this thread?
Do you even lift?


In answer to the question, invent an awesome medical device and patent it.

yes brah, im an avid BBer, what about you?

 

[0TopCat0]

If you can do the work, be an MD and a lawyer. A kid I knew in undergrad's dad did that and made bank since he didn't have to pay malpractice insurance and other doctors kept him on retainer.

That's actually very cool, never would've thought of that!!

I don't believe they have dual medical/law degrees, do they?

That would be a major time investment, and you'd have to factor in the time/money value

 

[0TopCat0]

How the **** did Mark Rippetoe end up in this thread?
Do you even lift?


In answer to the question, invent an awesome medical device and patent it.

I've thought of that, but don't you think that would lean more towards an engineer's base of knowledge > an MD??


sorry, just realized I double-posted.....

 

[0TopCat0]

Go work for a pharmaceutical company straight out of a MD/MBA program...no residency required...I mean ethically you're probably not doing great, but you can get that dough $$$$

This is what I've been researching extensively. I mean seriously, this is the best thing one could do if they want the medical knowledge med-school offers, but also want to make more money than the avg. physician.... (aside from what Dr. Oz managed to pull of)


But even then, the business kids earn most of the wealth that flows into pharma.....I wonder if having the extra MD would really be valuable in that scenario?

 

[freakingoutabit]

That's actually very cool, never would've thought of that!!

I don't believe they have dual medical/law degrees, do they?

There are a few dual programs (I believe the U. of Illinois has one). Doing a joint program would probably shave off a year, but you would still be spending 6 years in school.

Also, you would still need malpractice if you were a practicing physician with a law degree. Malpractice insurance covers much more than defense attorney fees.

 

[0TopCat0]

Malpractice insurance covers much more than defense attorney fees.

Yeah, thats what I figured. Still, the ability to build connections across both fields could offer some amazing opportunities

 

[freakingoutabit]

Yeah, thats what I figured. Still, the ability to build connections across both fields could offer some amazing opportunities

Yeah, definitely! I'm hoping to get involved in health policy someday, maybe through writing.

You can also make a killing doing expert witness testimony in med mal cases. You can do this without a law degree, but you would be more in demand with a law degree.

 

[The Buff OP]

How the **** did Mark Rippetoe end up in this thread?
Do you even lift?


In answer to the question, invent an awesome medical device and patent it.

Hahaha. Mcloaf you always crack me up broham.

 

[ghboyd25]

This guy had a pretty lucrative method...

http://www.nydailynews.com/news/nat...nosing-cancer-medicare-scam-article-1.1428639

 

[Gauss44]

Become sought after and don't take insurance. Now to find a way to do that... plastic surgery?

 

[Juxxtaposition]

This guy had a pretty lucrative method...

http://www.nydailynews.com/news/nat...nosing-cancer-medicare-scam-article-1.1428639

He looks friendly.

 

[freakingoutabit]

If you're going to medical school to make it big in a non clinical context, you're doing it wrong.

👍

Gotta say, med school is a very roundabout way to succeed in a non-clinical career.

 

[0TopCat0]

Hahaha. Mcloaf you always crack me up broham.

Thats a common-phrase in the body-building community brah

not to steal his thunder

 

[0TopCat0]

If you're going to medical school to make it big in a non clinical context, you're doing it wrong.

I agree that for the vast majority, this is true, but we have real-world examples of the exceptions

 

[0TopCat0]

If you can do the work, be an MD and a lawyer. A kid I knew in undergrad's dad did that and made bank since he didn't have to pay malpractice insurance and other doctors kept him on retainer.

Also, this kind of threw me off, are you insinuating he worked as both a physician and lawyer??

Seems pretty hefty to me

 

[0TopCat0]

This guy had a pretty lucrative method...

http://www.nydailynews.com/news/nat...nosing-cancer-medicare-scam-article-1.1428639

I heard about that, disgusting, and whats even more insane, patients received treatments in PARKING LOTS and didnt think there was anything off??

 

[487806]

If you're going to medical school to make it big in a non clinical context, you're doing it wrong.

Not true for MD/PhDs (or maybe even MD/MBAs) 😉

 

[Koalafied]

Really? I thought their salaries were around 180-200∞k after commissions, I'm gonna look into that 🙂🙂

I knnnooooow right? You forgot about the company AMGs + free airline passes + country club memberships + all-you-can-eat-samples + docs at your mercy on speed dial + hot colleagues. Specialize in pacemakers and you can even watch and interact during live CT surgery in 4D.😎 Lol. Anything else missing here?

For a small price you get Heaven on Earth, eh?

That's actually very cool, never would've thought of that!!

I don't believe they have dual medical/law degrees, do they?

That would be a major time investment, and you'd have to factor in the time/money value

http://law.duke.edu/admis/degreeprograms/jd-md/
http://www.med.upenn.edu/educ_combdeg/mdjd.shtml
http://admissions.med.miami.edu/md-programs/md-jd-program
http://www.siumed.edu/medhum/mdjdprog.htm

DISCLAIMER
It's a fun game ain't it, eh?🙄

 

[0TopCat0]

http://law.duke.edu/admis/degreeprograms/jd-md/
http://www.med.upenn.edu/educ_combdeg/mdjd.shtml
http://admissions.med.miami.edu/md-programs/md-jd-program
http://www.siumed.edu/medhum/mdjdprog.htm

DISCLAIMER
It's a fun game ain't it, eh?🙄

lmao, niceeeeee


that's an awesome path for someone who appreciates the medical knowledge gained, but wants a more lucrative life. I only know as much as you're telling me though, so would have to look into it.

 

[0TopCat0]

Still true. If you're "big" as a MD/PhD, you could've been equally as big as a PhD.

What exactly do you guys mean "big" as a PHD?

 

[Instatewaiter]

Prostitution

 

[Instatewaiter]

Still true. If you're "big" as a MD/PhD, you could've been equally as big as a PhD.

Much easier to get funding as an MD/PhD than as a PhD.

Even easier to get money as a pimp. Although, pimpin' ain't easy.

 

[487806]

Still true. If you're "big" as a MD/PhD, you could've been equally as big as a PhD.

Disproved again. 🙁

I know what you mean. Thanks for the correction.

 

[487806]

Making money off your patents I imagine.

And NIH grants. Don't forget about the grants.

 

[0TopCat0]

I always assumed the uni you were tied to would get the majority of that cash

most of the time those patents are owned by them, even if filed by you

 

[0TopCat0]

and the grants would only be to fund research, not for personal use

 

[calvnandhobbs68]

If you can do the work, be an MD and a lawyer. A kid I knew in undergrad's dad did that and made bank since he didn't have to pay malpractice insurance and other doctors kept him on retainer.

wut

You can't be practically competent in both and any lawyer with half a brain realizes that someone who hasn't primarily practiced malpractice law for years isn't going to be able to suddenly defend a malpractice case. That also has nothing at all to do with "paying malpractice insurance"...I can guarantee you he still paid malpractice insurance unless he was willing to lose his practice and his house over a malpractice suit.

The guy was either really stupid or this just isn't true. Also, this is why the MD/JD programs aren't terribly useful. Both professions are ones you have to be actively practicing often in order to stay on top of the profession. If you do mostly clinical work, your legal knowledge suffers. If you do mostly legal work, your clinical skills suffer.

 

[0TopCat0]

The guy was either really stupid or this just isn't true.

or really smart

 

[487806]

or really smart

There's nothing smart in making an impractical move.

 

[Spinach Dip]

In answer to the question, invent an awesome medical device and patent it.

Better:

1. Work in medicine for a couple years. Save a little bit of money.
2. Find something that would make your specialty a lot safer/faster/easier, but doesn't exist.
3. Start a company (with saved money) that makes said product. Be sure you are the sole owner.
4. Become successful.
5. Sell company.
6. Retire to private island.

 

[0TopCat0]

There's nothing smart in making an impractical move.

Was sarcasm

 

[0TopCat0]

Better:

1. Work in medicine for a couple years. Save a little bit of money.
2. Find something that would make your specialty a lot safer/faster/easier, but doesn't exist.
3. Start a company (with saved money) that makes said product. Be sure you are the sole owner.
4. Become successful.
5. Sell company.
6. Retire to private island.

great idea, someone will end up doing this, I think knowledge of both medicine and either engineering or comp science would be needed. Or you could hire consultants.

 

[Koalafied]

Better:

1. Work in medicine for a couple years. Save a little bit of money.
2. Find something that would make your specialty a lot safer/faster/easier, but doesn't exist.
3. Start a company (with saved money) that makes said product. Be sure you are the sole owner.
4. Become successful.
5. Sell company.
6. Retire to private island.

I hope this answers your questions, OP:
http://www.uroclub.com/history.html
Lol. There's more. I forgot them...

 

[freakingoutabit]

wut

You can't be practically competent in both and any lawyer with half a brain realizes that someone who hasn't primarily practiced malpractice law for years isn't going to be able to suddenly defend a malpractice case. That also has nothing at all to do with "paying malpractice insurance"...I can guarantee you he still paid malpractice insurance unless he was willing to lose his practice and his house over a malpractice suit.

The guy was either really stupid or this just isn't true. Also, this is why the MD/JD programs aren't terribly useful. Both professions are ones you have to be actively practicing often in order to stay on top of the profession. If you do mostly clinical work, your legal knowledge suffers. If you do mostly legal work, your clinical skills suffer.

This is true. It would be incredibly foolish to accept a med mal case if you weren't a practicing attorney. Not only would you be setting yourself up for your own malpractice suit (legal malpractice), but you would have to do an incredible amount of work just to prepare for the case. Either your legal fees would be insane (so insane as to cause any client to fire you), or you would have to do all of that catching up for free. Legal research is very, very expensive, and if you billed your client for the fact that you hadn't read a med mal case in 3 years and needed to catch up, you would quickly be told to go to hell.

And I agree that MD/JD programs are silly. You cannot be a successful lawyer and a successful doctor at the same time, no matter how smart you are. Both professions involve constant change, tight deadlines/urgency, and a massive amount of knowledge. If you attempted to do both, you would be lousy at both and thus would make less than if you excelled at one. There are very few careers that would even allow you to use both degrees, and I can think of only one career (teaching health law in a law school) that might require both.

 

[0TopCat0]

I hope this answers your questions, OP:
http://www.uroclub.com/history.html
Lol. There's more. I forgot them...

do people actually buy this ****?! my god

 

[Spinach Dip]

I hope this answers your questions, OP:
http://www.uroclub.com/history.html
Lol. There's more. I forgot them...

My mind is caught halfway between puking and laughing hysterically.

great idea, someone will end up doing this, I think knowledge of both medicine and either engineering or comp science would be needed. Or you could hire consultants.

Has happened already. Probably tons of times.

 

[0TopCat0]

This is true. It would be incredibly foolish to accept a med mal case if you weren't a practicing attorney. No only would you be setting yourself for your own malpractice suit (legal malpractice), but you would have to do an incredible amount of work just to prepare for the case. Either your legal fees would be insane (so insane as to cause any client to fire you), or you would have to do all of that catching up for free. Legal research is very, very expensive, and if you billed your client for the fact that you hadn't read a med mal case in 3 years and needed to catch up, you would quickly be told to go to hell.

And I agree that MD/JD programs are silly. You cannot be a successful lawyer and a successful doctor at the same time, no matter how smart you are. Both professions involve constant change, tight deadlines/urgency, and a massive amount of knowledge. If you attempted to do both, you would be lousy at both and thus would make less than if you excelled at one. There are very few careers that would even allow you to use both degrees, and I can think of only one career (teaching health law in a law school) that might require both.

Couldnt the same be said for koala's MD/MBA program to pursue a sales rep position??

I'm sure there is a business degree/specialization in medical applications

 

[freakingoutabit]

Couldnt the same be said for koala's MD/MBA program to pursue a sales rep position??

I'm sure their is a business degree/specialization in medical applications

Law and business are two very different fields. In terms of specialization, formal skills, rate of change, and volume of knowledge, law is more comparable to medicine than business.

Also, the most successful sales reps are simply very good (and usually very attractive) sales people. You do not need an MD to be a very successful pharmaceutical sales rep. No matter how well educated you are, if you're a lousy salesman, you will go broke working on commission.

 

[Koalafied]

Before I get a horde of angel pre-meds lecturing me on the fact that becoming a doctor isn't about money, I just want to post a disclaimer.


DISCLAIMER
This is simply for discussion purposes....


So I was thinking, one of the major benefits of becoming an MD (from a business POV) is that any book, blog, etc. that you write, is automatically granted credence due to the degree.

There are tons of guys who have found a niche in the health/fitness industry these days (such as Mark Sisson from Marksdailyapple, Mark Rippetoe, Kelly Starrett, Sanjay Gupta, David Agus and the famous Dr. Oz)


What do you think are some good/cool ideas/things doctors could capitalize on, things that would require their knowledge, to make a living, instead of going the route of traditional MD graduates?

OP, other than becoming a celebrity doctor, it's quite obvious what the real/true objective/motive is here. Go back and relearn thermodynamics as the efficient path may not be as obvious for some "less informed." Period.

If you're going to medical school to make it big in a non clinical context, you're doing it wrong.

👍👍👍👍👍
http://en.wikipedia.org/wiki/Hippocratic_Oath

 

[IJL]

Radiology

 

[IslandStyle808]

Law and business are two very different fields. In terms of specialization, formal skills, rate of change, and volume of knowledge, law is more comparable to medicine than business.

Also, the most successful sales reps are simply very good (and usually very attractive) sales people. You do not need an MD to be a very successful pharmaceutical sales rep. No matter how well educated you are, if you're a lousy salesman, you will go broke working on commission.

Hence the reason the MBA is pointless. It does give you knowledge about business but in the end, a person with just "business know how" could potentially do the same quality job. The degree does not put you in a niche.

 

[Stagg737]

Can't believe I forgot about this, but you could also do independent medical examinations. I spent a summer as an intern scheduling and reporting IME results for a major doctor's group and they make bank off of it.

An IME is essentially when an insurance company sends you a patient who is on worker's compensation and you evaluate their status (do they need to keep resting, can they go back to work with restrictions, or can they go back to their full work?). The entire appointment takes 10-15 minutes and insurance companies pay the docs about $900 on average.

I did the math one day and one of the docs in the group made over 400k in 6 months and only did IMEs on Monday mornings and Wednesdays.

 

[The Buff OP]

Thats a common-phrase in the body-building community brah

not to steal his thunder

I know it is. I get ask that stupid question all the time. It was funny because out of the bloom he said it, you know usually people will ask that when someone is talking about fitness.