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I recently read in a posting that Derms arent doing many cosmetic procedures. So where does the great income come from. How much do derms get reimbursed by insurance and how much is a cash business?
I agree,Dermatologists tend to see very large numbers of patients and do many procedures.They do cosmetic work increasingly and it has been a financial boost but is not responsible for the bulk of most derms incomes.Excisions,flaps etc which are done commonly and the MOHS subspecialty are lucrative.Some dermatologists read their own path slides as well.doc05 said:they do lots of minor procedures, which are quick (=volume), and reimburse well. botox, laser treatments, etc, are some of the things they do that bring in the cash.
ny skindoc said:I agree,Dermatologists tend to see very large numbers of patients and do many procedures.They do cosmetic work increasingly and it has been a financial boost but is not responsible for the bulk of most derms incomes.Excisions,flaps etc which are done commonly and the MOHS subspecialty are lucrative.Some dermatologists read their own path slides as well.
doc05 said:maybe so, but even at just 200k for a 40-hour week with no call, I'd say derms have got it made.
PathOne said:Obviously, the money's in cosmetic work, where there's no insurance to worry about. Patricia Wexler in NYC is certainly making seven figures, and got a huge surge after being featured on Oprah. (she's almost exclusively cosmetic, and also does liposuctions+give advice on where to buy shoes...)
But I also know of people who can make 300K on a four-day workweek, which doesn't sound too bad to me... Also, mal insurance is fairly low for most derms, which certainly helps.
doc05 said:maybe so, but even at just 200k for a 40-hour week with no call, I'd say derms have got it made.
The cosmetic work done by dermatologists has some overlap with plastic surgeons and ENT(filling agents,peels,botox etc..) but overall their practices are quite different.Surgical specialties focus far more on various lifts and tucks,liposuction which are much more lucrative procedures.One advantage Derms have is that from their large established patient base its easy to get patients for the lower level cosmetic work.azcomdiddy said:So dermatologists will always be at a disadvantage to PRS and "Cosmetic" Surgeons. The vast majority of a derm's income comes from their office visits. Most of these visits are brief in nature and thus a dermatologist can see a large volume of patients while billing them at a specialist's rate.
These fields can all be very lucrative.Allergists,Rheum,Endo have to go through an internal medicine residency first,(some would consider that a negative) and their work often involves much general internal medicine generally longer patient visits,more complex problems.Allergists absolutely have it made..the derm of internal medicine for sure.novacek88 said:By that logic, allergists, endocrinologists, ER specialists, opthalmologists, pathologists, physiatrists, radiologists(in a large group), and rheumatologists also have it made.
ny skindoc said:The cosmetic work done by dermatologists has some overlap with plastic surgeons and ENT(filling agents,peels,botox etc..) but overall their practices are quite different.Surgical specialties focus far more on various lifts and tucks,liposuction which are much more lucrative procedures.One advantage Derms have is that from their large established patient base its easy to get patients for the lower level cosmetic work.
ny skindoc said:These fields can all be very lucrative.Allergists,Rheum,Endo have to go through an internal medicine residency first,(some would consider that a negative) and their work often involves much general internal medicine generally longer patient visits,more complex problems.Allergists absolutely have it made..the derm of internal medicine for sure.
azcomdiddy said:There are very few plastic surgeons whose offices do not provide these procedures in conjuction with the heavy surgical ones you already listed. Yes, the plastic surgeon may personally not perform these procedures but they usually have assistants or technicians who perform these lower level cosmetic work. I'm not suggesting that dermatologists don't perform cosmetic work. However, there is a reason cosmetic work only accounts for 5-6% of their practice on average and it's not because dermatologists prefer to do less cosmetic work.
PathOne said:But - please - sometimes discuss WHY you want to do derm. NOT "How much can I expect to earn".
phillystudent said:I would agree with you and I think it's definitely worth pointing out that money shouldn't be the only consideration in choosing a specialty, but I also think it's somewhat unfair to criticize people for talking about money on these boards. This is one of the only places that people can annonymously talk about the financial aspects of a specialty without worrying about whether others will think that money is all you care about. Financial issues may be overrepresented in these discussions, but that's probably because it is fairly easy to get information about other aspects of a specialty during your med school rotations but practically impossible to talk to your attendings about salaries.
azcomdiddy said:When I think of lucrative salaries, I'm thinking of salaries in excess of 500K.
doc05 said:they do lots of minor procedures, which are quick (=volume), and reimburse well. botox, laser treatments, etc, are some of the things they do that bring in the cash.
ItsGavinC said:And I think of excess of $250,000. Sometimes our mindframes are shifted by our professions, but the average US income is still in the 40k range.