Why do some physicians earn more than others in the same specialty?

[ruvuitton]

Why do some doctors earn more than their competitors in the same area of medicine? I mean, they've all gone through the same amount of training, but the discrepancy is huge between the median, the top percentile and the lower percentile. Why?

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[TheWeeIceMan]

Because we aren't communists.

 

[274631]

Why do some doctors earn more than their competitors in the same area of medicine? I mean, they've all gone through the same amount of training, but the discrepancy is huge between the median, the top percentile and the lower percentile. Why?

I would guess it has a lot to do with differences in the number of years practicing, type of work they're doing (academic vs private practice), area they're practicing in, number of hours worked, etc.

e.g. a plastic surgeon working in Beverly Hills is going to make a **** ton more than someone doing facial reconstructions in impoverished areas.

But isn't this true of any profession though?

 

[freakingoutabit]

You might find this interesting:

http://www.medscape.com/features/slideshow/compensation/2013/public

 

[IgEdoc]

Over- or inappropriate treatment is what I see and the irony is patients believe their physician is being "thorough and caring" for all the constant attention they are getting. An example in my field, Allergy & Immunology, is private docs putting everyone on indefinite weekly immunotherapy with no maintenance and for everything including chronic autoimmune urticaria and migraines.

 

[freakingoutabit]

Over- or inappropriate treatment is what's I see and the irony is patients believe their physician is being "thorough and caring" for all the constant attention they are getting. An example in my field, Allergy & Immunology, is private docs putting everyone one on indefinite weekly immunotherapy with no maintenance and for everything including chronic autoimmune urticaria and migraines.

I watched "Money and Medicine" on Netflix last night, and it was about this problem. Patients think that excess care = great care and doctors make more when they do more, so the cost of every treatment just keeps rising. Must be very frustrating to see firsthand.

 

[circulus vitios]

Location. Physicians in rural areas generally make more than doctors in urban or suburban areas. Physicians in upper-class urban or suburban locations generally make more than doctors in working-class urban or suburban locations.

Hours worked. I imagine that doctors who aim for a M-F, 9-5 schedule will earn less than their colleagues who don't mind working longer hours or weekends.

Procedures performed. Certain procedures are much more lucrative than others. Compare the earnings of a typical FM physician versus an FM physician who sets aside an afternoon or an entire day for non-surgical/non-invasive cosmetic procedures, probably on a cash-only basis.

 

[Strudel19]

Location (a big one) and experience to name a couple big factors. Doctors in the midwest and rural areas generally make more across the board - there's less of them.

 

[Mel Belle]

Some physicians have a larger patient base than others. Simple as that.

 

[Mt Kilimanjaro]

Hours worked. Procedures done (some FM doctors do a lot of injections and minor procedures while others do zero). Efficiency of practice. Percentage of Medicare/Medicaid patients. Location. Lots of other reasons.

 

[DrBowtie]

Its all about RVUs

 

[ToldYouSo]

The same reason why people in any given field earn differing amounts of money.

 

[deanthedream17]

Why do two pizza places have differing revenues? Save reason

 

[The Buff OP]

Over- or inappropriate treatment is what I see and the irony is patients believe their physician is being "thorough and caring" for all the constant attention they are getting. An example in my field, Allergy & Immunology, is private docs putting everyone on indefinite weekly immunotherapy with no maintenance and for everything including chronic autoimmune urticaria and migraines.

+1 My little brother is allergic to grass (mild) and other little things and the doctor wanted to put him on weekly vaccinations.

 

[thefritz]

Why do some doctors earn more than their competitors in the same area of medicine? I mean, they've all gone through the same amount of training, but the discrepancy is huge between the median, the top percentile and the lower percentile. Why?

Because they do **** like this. http://www.nydailynews.com/news/nat...nosing-cancer-medicare-scam-article-1.1428639

You too can earn $17 million a year by making dying people suffer.

 

[thesauce]

Because they do **** like this. http://www.nydailynews.com/news/nat...nosing-cancer-medicare-scam-article-1.1428639

You too can earn $17 million a year by making dying people suffer.

Not your most constructive post. So the reason some docs make more than others is because they are intentionally misdiagnosing patients?

 

[thesauce]

I would guess it has a lot to do with differences in the number of years practicing, type of work they're doing (academic vs private practice), area they're practicing in, number of hours worked, etc.

e.g. a plastic surgeon working in Beverly Hills is going to make a **** ton more than someone doing facial reconstructions in impoverished areas.

But isn't this true of any profession though?

Actually maybe not. Quite often the higher paying jobs are in the boonies because they have to offer higher compensation to get people to live/work there.

 

[thesauce]

For the high technology fields, a lot of it has to do with who owns the machines. Typically, if you own your own equipment, you have the potential to make more money. If the hospital owns it, the income potential is typically lower.

Other variables include location of practice, hours worked, what % of patients are insured and by whom. In most specialties, the income potential is very high, but everyone finds their own personal work-life balance.

 

[LizzyM]

"Case mix" is a factor, too, meaning what proportion of your patients are Medicare (elderly or disabled), Medicaid (poor), private pay (insurance), or paying cash out of pocket, or unable to pay (charity). You can charge what you will but many payors will tell you... the hell with your bill, you are getting $X for that procudure and you're going to like it.

Different procedures within a specialty are worth more or less per hour of your time when you break it down. Joint replacements pay better and are more predictable than trauma cases for orthopedic surgeons. The proportion of one to the other can change earnings.