Who wants to go private practice?

[SaintJude]

I'd like to know which choice is most popular? Is anyone interested in private practice?

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[iqe2010]

Down the road I may want to into some kind of administration.

But I have PLENTY of time to decide that. I have to get through gen bio first.

 

[TheMightySmiter]

By "private practice" do you mean "clinical practice"?

 

[mirimonster]

The academics with whom I have worked definitely have the best gig. In at 9, out by 5. Clinical practice + protected research time + teaching one class per semester. Glorious.

 

[SaintJude]

By "private practice" do you mean "clinical practice"?

yeah, like a doctor who only treats patients full-time. Most traditionally works only in a hospital or own his own private practice.

 

[BlueLabel]

yeah, like a doctor who only treats patients full-time. Most traditionally works only in a hospital or own his own private practice.

Wait a minute. I thought you were trying to make a distinction between "eat what you kill" and "someone cuts you a paycheck". Ideally I think I would prefer the former, but from what I hear it's kind of going to be a thing of the past in the next 10-15 years.

 

[tima]

I won't be happy if I am paid peanuts.

Hmm.....decisions!

 

[Oxygen206]

yeah, like a doctor who only treats patients full-time. Most traditionally works only in a hospital or own his own private practice.

uhh this pretty much encompasses the majority of physicians.

Do you mean working in a non-academic hospital with little to no teaching responsibilities or research?

 

[SaintJude]

uhh this pretty much encompasses the majority of physicians.

Do you mean working in a non-academic hospital with little to no teaching responsibilities or research?

yes! perfectly put. sorry--

 

[Stumpyman]

Who knows what'll happen in and after med school. Currently, I'd prefer the "clinical practice" option.

 

[KnuxNole]

Private practice for me. That means...NOT working in a teaching hospital with residents/students(unless a student wants to shadow, I'd be glad to accomodate), not wanting to be an inpatient attending, having a continuity clinic with myself or a partner or multiple partners of physicians, and basically spending my time in outpatient care

 

[mimelim]

50% salary cut staying in academics, at least based on rough numbers from a couple of fellows that I know. Always wanted to do academics though, still have a few ~4 years to figure it out.

 

[notbobtrustme]

I have no real interest in academic medicine so private practice it is! I've been a part of academia for 10 years now and I really have no more desire to stay a part of it.

 

[Stumpyman]

Who knows what'll happen in and after med school.

I swear it seems like the spambots always copy my posts. I guess I'm just that cool .

 

[Whiskeypunch]

The academics with whom I have worked definitely have the best gig. In at 9, out by 5. Clinical practice + protected research time + teaching one class per semester. Glorious.

Or you could work 20 hours a week out in the private world and make just as much... because academics pays peanuts...

 

[Drrrrrr. Celty]

I want to work private practice and maybe teach at the undergraduate level as an once a week lecturer for some advanced psychopathology classes. I personally adore teaching and tutoring so I think it would be nice.

 

[mimelim]

Or you could work 20 hours a week out in the private world and make just as much... because academics pays peanuts...

You can't work 20 hours a week private. You can titrate down, but you can not work 20 hours a week as a vascular surgeon. Plus why would I train for 4 years of undergrad, 4 years of medical school, and 7 years of residency so that I could do a job for 20 hours a week? Why go through all that effort to end up somewhere that I only want to work half time at?

 

[gettheleadout]

Or you could work 20 hours a week out in the private world and make just as much... because academics pays peanuts...

Paying less on average than private practice doesn't mean academic med doesn't pay well... Most of the dept. chairs at my state med school (not a "prestigious" institution) make over $400k.

I realize not everyone at a school can be chair or dean, but not everyone in a practice can be a partner either. People's goals vary, but it's not like you'll be living in poverty in academia if you're especially concerned with making money.

 

[Rumalum]

private practice is probably more realistic later in your career no? It seems like there would be a lot of upfront costs in starting up a clinic

it also depends on your specialty

 

[nancy mcgunter]

I want to be a hospitalist. So clinical practice but not private practice. I also want to be involved in teaching, so hopefully medical students will rotate through. Even after just a little shadowing, I've been impressed with the "culture of teaching" present in medicine. It's pretty awesome and I love seeing clinical knowledge being passed down from one generation of physicians to the next.

 

[mirimonster]

Or you could work 20 hours a week out in the private world and make just as much... because academics pays peanuts...

Or... I'm not worried about the money and I'm genuinely in it for the intellectual curiosity/humanism stuff. The academics I know are not exactly struggling financially. Granted, they're in a very high paying sub-specialty, so even if they're making less than their private practice counterparts, they're still doing damn well.

 

[xXIDaShizIXx]

Don't forget military medicine, but I guess that could fall under public health.

 

[Gigantron]

Paying less on average than private practice doesn't mean academic med doesn't pay well... Most of the dept. chairs at my state med school (not a "prestigious" institution) make over $400k.

I realize not everyone at a school can be chair or dean, but not everyone in a practice can be a partner either. People's goals vary, but it's not like you'll be living in poverty in academia if you're especially concerned with making money.

I'd wager that there are a higher proportion of physicians becoming partner in a private practice setting than there are academics becoming department chairs.

 

[Starlightembers]

Academics. Even though the pay is less than in private practice (though, by no means is it it poverty), the opportunity to combine clinical practice, teaching and research sounds like a perfect fit for what I am looking for in my career.

Perhaps, down the road, I would also like to move into a more public policy and public health focused role.

 

[nancy mcgunter]

Here are some raw numbers that I thought would make things interesting. These two people work at the University of Kansas Medical Center (so their salaries are in the public domain):

1. George William Atkinson, MD
-general internal medicine physician
-Professor
-salary of $124,435

2. Barbara Frajola Atkinson, MD
-pathologist
-Executive Vice Chancellor
-salary of $547,112

So you see academe is a double-edged sword. If you're "just" a professor, you'll be making less than your non-academic counterparts. Although if you consider hours worked, it's probably closer than we think. Now, if you're an administrator, you'll probably make more than your non-academic counterparts.

At the end of the day, if you love teaching, you'll do it, take the pay cut, and hope to climb the ranks eventually.


Sources:

http://www.kumed.com/find-doctor/fi...artment={AD60FFBF-1530-453A-88D5-84357F8BBA76}

http://www.kansas.com/2010/11/23/1601926/2010-public-salary-database.html?appSession=924301255295425

 

[gettheleadout]

I'd wager that there are a higher proportion of physicians becoming partner in a private practice setting than there are academics becoming department chairs.

I'd agree, but keep in mind that there are probably fewer people in academia as there are in PP that are concerned about making big bucks.

Here are some raw numbers that I thought would make things interesting. These two people work at the University of Kansas Medical Center (so their salaries are in the public domain):

1. George William Atkinson, MD
-general internal medicine physician
-Professor
-salary of $124,435

2. Barbara Frajola Atkinson, MD
-pathologist
-Executive Vice Chancellor
-salary of $547,112

So you see academe is a double-edged sword. If you're "just" a professor, you'll be making less than your non-academic counterparts. Although if you consider hours worked, it's probably closer than we think. Now, if you're an administrator, you'll probably make more than your non-academic counterparts.

At the end of the day, if you love teaching, you'll do it, take the pay cut, and hope to climb the ranks eventually.

I think that depends. In the case of this Vice Chancellor pathologist, yeah, her PP colleagues probably don't make over half a mil in path. However, I imagine most subspecialist surgeons (uro, neurosurg, plastics, ortho, etc.) would make more doing surgeries full time than they would make up for with an administrative pay boost.

 

[nancy mcgunter]

I'd agree, but keep in mind that there are probably fewer people in academia as there are in PP that are concerned about making big bucks.

I think that depends. In the case of this Vice Chancellor pathologist, yeah, her PP colleagues probably don't make over half a mil in path. However, I imagine most subspecialist surgeons (uro, neurosurg, plastics, ortho, etc.) would make more doing surgeries full time than they would make up for with an administrative pay boost.

Agreed. I looked through the rest of the organizational hierarchy at KU and there were only two MDs ... most were RNs. At any rate, there are very few adminstrative positions available to make the big bucks.

So I looked up the "Chairman of the Department of Plastic Surgery." His salary is listed at $135,000 a year. But I think the university's physicians also have a group practice together ... I'm interested in how that works. http://www.kc-plasticsurgery.com/dr-richard-korentager.html

Did the same for the dept. chair in neurosurgery and he's only pulling in $132,500. I'm guessing those dudes generate additional income elsewhere.

 

[Poetic Silence]

I'd like to work in a pediatric teaching hospital. So, academics.

 

[MiracleforMD]

Agreed. I looked through the rest of the organizational hierarchy at KU and there were only two MDs ... most were RNs. At any rate, there are very few adminstrative positions available to make the big bucks.

So I looked up the "Chairman of the Department of Plastic Surgery." His salary is listed at $135,000 a year. But I think the university's physicians also have a group practice together ... I'm interested in how that works. http://www.kc-plasticsurgery.com/dr-richard-korentager.html

Did the same for the dept. chair in neurosurgery and he's only pulling in $132,500. I'm guessing those dudes generate additional income elsewhere.

Are all 39 of your posts about money?

 

[circulus vitios]

Private practice. I'm too dumb/too poor of a teacher to be in academics.