Will Radiology Salaries continue dropping?

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sweetamazement

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I have heard that radiology salaries took a big pay cut (20%). Will radiology salaries keep dropping? In 10 years, what do you think radiologists will be making?

It used to be that they made about 400k a year, and now it seems like it dropped to 350k a year or less.

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Hate to break it to you, but radiology isn't the only field that's getting hit, just one of the earliest. Basically they are the canary dying and letting the miners know what is coming. All physicians are likely to take a similar hit -- the industry is bracing for this.
 
I don't buy all the doomsday talk. Rads salaries are dropping because there are a glut of them on the market right now. There are lots of specialties where the salary keeps rising. Hospitalist for example can get 230-240 base salary. Truth is you just don't need as many radiologist as we are training right now, 1 radiologist can do a lot of cases.
 
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I don't buy all the doomsday talk. Rads salaries are dropping because there are a glut of them on the market right now. There are lots of specialties where the salary keeps rising. Hospitalist for example can get 230-240 base salary. Truth is you just don't need as many radiologist as we are training right now, 1 radiologist can do a lot of cases.

Meh, radiology hours and study volume have continued to go up every year, and expected to jump significantly as more people get plugged into health care under the ACA -- hardly sounds like a glut. It's a function of reimbursement cuts, plain and simple. And when you are trimming the fat, you don't stop at one part of the cow. It all coming. And as the private practices dwindle and more and more become hospital employees, it just makes the cuts that much easier to impose. People in medicine all know it, but are gambling that they will make their nut and get out first. Some on this board might see a very different landscape.
 
Meh, radiology hours and study volume have continued to go up every year, and expected to jump significantly as more people get plugged into health care under the ACA -- hardly sounds like a glut. It's a function of reimbursement cuts, plain and simple. And when you are trimming the fat, you don't stop at one part of the cow. It all coming. And as the private practices dwindle and more and more become hospital employees, it just makes the cuts that much easier to impose. People in medicine all know it, but are gambling that they will make their nut and get out first. Some on this board might see a very different landscape.
How much do you think salaries will decrease across the board?
 
I don't buy all the doomsday talk. Rads salaries are dropping because there are a glut of them on the market right now. There are lots of specialties where the salary keeps rising. Hospitalist for example can get 230-240 base salary. Truth is you just don't need as many radiologist as we are training right now, 1 radiologist can do a lot of cases.
What sort of specialty are hospitalists? Are they just the primary care people?
 
What sort of specialty are hospitalists? Are they just the primary care people?
Hospitalists are generally IM physicians that take care of patients in the hospital but do not do any outpatient work. They typically work the floors, while specialists often are in charge in stepdown and the ICU. There are places that will take FM hospitalists, that function just as the IM hospitalists do, but usually these are smaller or more rural locations.
 
The biggest problem for Rad is job openings, more so than salary.
 
It is important to consider the likelihood that some areas of medicine, while reimbursments may drop, will be in a better position to thrive than others. For example, cancer and heart disease are the leading causes of death in the U.S., and frankly, this will not likely change dramatically over the next 50-60 years. With that in mind, Oncology and Cardiology are probably the safest from the mighty axe of the ACA.
 
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It is important to consider the likelihood that some areas of medicine, while reimbursments may drop, will be in a better position to thrive than others. For example, cancer and heart disease are the leading causes of death in the U.S., and frankly, this will not likely change dramatically over the next 50-60 years. With that in mind, Oncology and Cardiology are probably the safest from the mighty axe of the ACA.
Is oncology the same specialty as radiation oncology, or is it a fellowship like cardiology?
 
Is oncology the same specialty as radiation oncology, or is it a fellowship like cardiology?
Oncology is a fellowship under IM. Radiation oncology is a fellowship under radiology. Correct me if I'm wrong but I believe radiation oncology is where the humongous bucks are made..
 
It is important to consider the likelihood that some areas of medicine, while reimbursments may drop, will be in a better position to thrive than others. For example, cancer and heart disease are the leading causes of death in the U.S., and frankly, this will not likely change dramatically over the next 50-60 years. With that in mind, Oncology and Cardiology are probably the safest from the mighty axe of the ACA.
I'd say dermatology is the safest. It's an easy business to go cash-only in if you do nothing but cosmetic derm.

If you want to make money in medicine, the best fields to go into are those in which you can earn money by overseeing others, taking cash payments, and/or franchising services. Lasik centers, cosmetic derm, urgent care chains, that sort of thing. Either that or by developing a medical device, but that is a really hit-or-miss sort of thing, you can invest a fortune into a device that people just don't take to for whatever reason. Great example is the variety of types of talking trachs for people on vents, none of which we ever seem to use, despite the vast market for it. Passy-Muir valves on the other hand, exploded in popularity in non-ventilated trach patients.

Don't ever expect to get rich in this field if your plan involves fees for your own services from insurers. The real money comes from either finding a good direct pay field where you can control prices fairly well, or from being able to multiply your earnings via extenders or franchisees that you take a cut from in addition to your own work.
 
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I'd say dermatology is the safest. It's an easy business to go cash-only in if you do nothing but cosmetic derm.

If you want to make money in medicine, the best fields to go into are those in which you can earn money by overseeing others, taking cash payments, and/or franchising services. Lasik centers, cosmetic derm, urgent care chains, that sort of thing. Either that or by developing a medical device, but that is a really hit-or-miss sort of thing, you can invest a fortune into a device that people just don't take to for whatever reason. Great example is the variety of types of talking trachs for people on vents, none of which we ever seem to use, despite the vast market for it. Passy-Muir valves on the other hand, exploded in popularity in non-ventilated trach patients.

Don't ever expect to get rich in this field if your plan involves fees for your own services from insurers. The real money comes from either finding a good direct pay field where you can control prices fairly well, or from being able to multiply your earnings via extenders or franchisees that you take a cut from in addition to your own work.


I suppose my focus wasn't so much on "lets make our nut in the field of medicine" but more in terms of who will be the least hurt by the ACA and insurance changes - if the status quo in dermatology is that many practices/procedures are on a cash basis, then dermatology becomes irrelevant to the point I am making here. That being said, it is probably more likely for a 'typical' (i.e., average) medical student to secure an IM residency (ergo, Cardiology or Oncology are fellowships of IM) than to secure a residency in dermatology.

I don't expect to get rich - I do however expect this bad boy to be sitting in my driveway in 2024 financed, of course ;-)
1620984_1462094987345106_825871983_n.jpg
 
I suppose my focus wasn't so much on "lets make our nut in the field of medicine" but more in terms of who will be the least hurt by the ACA and insurance changes - if the status quo in dermatology is that many practices/procedures are on a cash basis, then dermatology becomes irrelevant to the point I am making here. That being said, it is probably more likely for a 'typical' (i.e., average) medical student to secure an IM residency (ergo, Cardiology or Oncology are fellowships of IM) than to secure a residency in dermatology.

I don't expect to get rich - I do however expect this bad boy to be sitting in my driveway in 2024 financed, of course ;-)
1620984_1462094987345106_825871983_n.jpg

It's all about lambos dude
 
I suppose my focus wasn't so much on "lets make our nut in the field of medicine" but more in terms of who will be the least hurt by the ACA and insurance changes - if the status quo in dermatology is that many practices/procedures are on a cash basis, then dermatology becomes irrelevant to the point I am making here. That being said, it is probably more likely for a 'typical' (i.e., average) medical student to secure an IM residency (ergo, Cardiology or Oncology are fellowships of IM) than to secure a residency in dermatology.

I don't expect to get rich - I do however expect this bad boy to be sitting in my driveway in 2024 financed, of course ;-)
1620984_1462094987345106_825871983_n.jpg

There's a joke at our hospital. All of the hospitalists have these fantastically amazing cars, and we joke that driving to work and back is the only time they get to enjoy their money, hence the cars. :p
 
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There's a joke at our hospital. All of the hospitalists have these fantastically amazing cars, and we joke that driving to work and back is the only time they get to enjoy their money, hence the cars. :p

Lol I don't care about a big fancy house. I can do just fine with a fancy apartment. But I expect at least a beemer, benz or bentley and a closet full of Cavali, Hermes and Loubou's ;)

Btw, when I was shadowing in hospitals, a number of physicians told me to practice medicine in Dubai for several years. They said I'd make millions and I return to USA whenever I want. Idk if they were joking, but it was different physians at different hospitals that told me the same thing. Apparently Dubai wants American doctors, and are willing to pay huge bucks for them.
 
It's all about lambos dude

I will never buy an italian car. I refuse to pay triplicate the price just because it was "built by hand"
Also, I'm pretty sure no woman will turn their nose up at me for pulling up in a Porsche as opposed to a lambo, haha.
 
I will never buy an italian car. I refuse to pay triplicate the price just because it was "built by hand"
Also, I'm pretty sure no woman will turn their nose up at me for pulling up in a Porsche as opposed to a lambo, haha.

^ This guy's got it right. Who cares about the car? It's all about what the ladies think of the car. I sold my motorcycle once my lady was in the bag. $cha-ching$
 
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I will never buy an italian car. I refuse to pay triplicate the price just because it was "built by hand"
Also, I'm pretty sure no woman will turn their nose up at me for pulling up in a Porsche as opposed to a lambo, haha.
Ah yea. In reality, I would be content with just a new mercedes 500 class or BMW X6.
 
Lol I don't care about a big fancy house. I can do just fine with a fancy apartment. But I expect at least a beemer, benz or bentley and a closet full of Cavali, Hermes and Loubou's ;)

Btw, when I was shadowing in hospitals, a number of physicians told me to practice medicine in Dubai for several years. They said I'd make millions and I return to USA whenever I want. Idk if they were joking, but it was different physians at different hospitals that told me the same thing. Apparently Dubai wants American doctors, and are willing to pay huge bucks for them.
Sounds like the new Cleveland Clinic in Dubai is where its at. I wouldn't mind doing an away rotation there to feel out the lifestyle...
 
I really doubt that's true. Certain procedure reimbursements may have been cut, but there's no way radiologists took a 20% salary cut in a single year.
 
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I really doubt that's true. Certain procedure reimbursements may have been cut, but there's no way radiologists took a 20% salary cut in a single year.

Was thinking this.
 
Sounds like the new Cleveland Clinic in Dubai is where its at. I wouldn't mind doing an away rotation there to feel out the lifestyle...

Unless you're gay or a woman lol
 
Lol I don't care about a big fancy house. I can do just fine with a fancy apartment. But I expect at least a beemer, benz or bentley and a closet full of Cavali, Hermes and Loubou's ;)

Btw, when I was shadowing in hospitals, a number of physicians told me to practice medicine in Dubai for several years. They said I'd make millions and I return to USA whenever I want. Idk if they were joking, but it was different physians at different hospitals that told me the same thing. Apparently Dubai wants American doctors, and are willing to pay huge bucks for them.
Looking at the recruitment materials for Cleveland Clinic Abu Dhabi, I think they might not be pulling your leg. If the opportunities are still sound out there in a few years, I'd totally try my hand at getting a position in the Gulf.
 
Medscape shows radiology salaries are up 1% since 2011. http://www.medscape.com/features/slideshow/compensation/2013/public slide #3. They're showing $350k/yr average, although their numbers have always been low. AAMC had a composite of several different salary surveys using 2011 or 2012 data, showing close to $450k/yr average -- no idea why they deleted the PDF.
 
Unless you're gay or a woman lol
The opportunities for women might actually be quite good. Certain women will only allow themselves to be seen by female physicians and nurses. The lifestyle might not be the greatest, but taking care of the wives of oil barons might be a pretty well paying gig.
 
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Also, which medical specialties have the highest abundance of jobs? (Aka, which specialties can find jobs in any location easily?)
 
The opportunities for women might actually be quite good. Certain women will only allow themselves to be seen by female physicians and nurses. The lifestyle might not be the greatest, but taking care of the wives of oil barons might be a pretty well paying gig.

Until one of them goes into cardiac arrest, dies, and you suddenly go missing.
 
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Until one of them goes into cardiac arrest, dies, and you suddenly go missing.
These are billionaires we're talking about. If you accidentally kill their wife they just end up promoting their mistress. Might even high five you for getting rid of the harpy.
 
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Radiologist salaries will stabilize eventually and it will certainly be slightly lower than what it was a few years ago. Also keep in mind radiologists are working more than ever (I guess this will be true for all specialties). The radiologist I shadowed told me the volume of work has gone up dramatically and that he was working closer to the hours of surgeon.
 
I suppose my focus wasn't so much on "lets make our nut in the field of medicine" but more in terms of who will be the least hurt by the ACA and insurance changes - if the status quo in dermatology is that many practices/procedures are on a cash basis, then dermatology becomes irrelevant to the point I am making here. That being said, it is probably more likely for a 'typical' (i.e., average) medical student to secure an IM residency (ergo, Cardiology or Oncology are fellowships of IM) than to secure a residency in dermatology.

I don't expect to get rich - I do however expect this bad boy to be sitting in my driveway in 2024 financed, of course ;-)
1620984_1462094987345106_825871983_n.jpg

Tesla is the way to go, my friend.

roadster.jpg


The only question is:

tumblr_m7o52naWJO1qb0s4do1_r1_500.gif
 
I will never buy an italian car. I refuse to pay triplicate the price just because it was "built by hand"
Also, I'm pretty sure no woman will turn their nose up at me for pulling up in a Porsche as opposed to a lambo, haha.
It will probably be electric and self driving by then. Will that affect the babe factor, you think?
 
It will probably be electric and self driving by then. Will that affect the babe factor, you think?

The babe will appreciate it being auto-steering when I let her drive stick.
 
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Tesla is the way to go, my friend.

roadster.jpg

To each his own I suppose.
I've been using this little guy to jump start my motivation when feeling burnt out for the past couple of years:
WCKpJhm.jpg


Soon, my Godzilla friend. Soon. :(
 
Cars are so lame. My goal is to buy a Mig 21. They can be had for $50-100k. The only problem is affording the $2-3k/hr operating costs. :wideyed:

M1zJ2aR.jpg


 
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Cars are so lame. My goal is to buy a Mig 21. They can be had for $50-100k. The only problem is affording the $2-3k/hr operating costs. :wideyed:

I would not trust myself with one of those. :rofl:
 
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Radiologists will be fine. One thing that I don't think anyone has mentioned is the overseas docs/techs who are reading scans for substantially lower prices than US docs. At some point, you can't expect the (partial) free market to tolerate overpaying certain specialists when someone else can do it for less. Lots of other specialists train for equal time but many of them wouldn't see near the paycheck of a radiologist during the golden years.

Figuring out a way to maximize their income is fine, but you can't expect that to last forever, especially when we're trying to recruit more primary care docs.
 
Radiologists will be fine. One thing that I don't think anyone has mentioned is the overseas docs/techs who are reading scans for substantially lower prices than US docs. At some point, you can't expect the (partial) free market to tolerate overpaying certain specialists when someone else can do it for less. Lots of other specialists train for equal time but many of them wouldn't see near the paycheck of a radiologist during the golden years.

Figuring out a way to maximize their income is fine, but you can't expect that to last forever, especially when we're trying to recruit more primary care docs.
No one has mentioned it because it is not a current threat. You can't bill Medicare/Medicaid for services performed off US and territorial soil. The margins have shrunk so you can't afford to pay for prelim only and most has shifted to domestic telerad.

The real killer was cuts for same day studies. A Chest/Abdomen/Pelvis now means decent pay for the chest, less for the abd, even less for the pelvis
 
No one has mentioned it because it is not a current threat. You can't bill Medicare/Medicaid for services performed off US and territorial soil.

How long until that changes in the name of cheaper healthcare though?
 
How long until that changes in the name of cheaper healthcare though?
If and when non US licensed physicians are allowed to provide services for Medicare/Medicaid the whole reimbursement system collapses as we know it across all specialties.

Match data shows there are plenty of FMGs willing to come practice now even if it means repeating residency.

Lastly, the technical fee makes up the bulk of the cost, not the professional fee for radiology studies.
 
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Dubai is a very artificial city, with no particular culture aside from lavishness, luxury, and hedonism. Money money money, and why can we build it do with it. Makes sense that they will pay major dollars for American Doctors - America has the best MEDICAL TRAINING in the world.
 
To each his own I suppose.
I've been using this little guy to jump start my motivation when feeling burnt out for the past couple of years:
WCKpJhm.jpg


Soon, my Godzilla friend. Soon. :(

Of all things, A SKYLINE???
 
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