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The tallest blade of grass is the first to be cut.
This. But only premeds believe that's when they top mowing. Think putting green height.
The tallest blade of grass is the first to be cut.
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.
... from 2011-2013, the majority of physicians reported an increase in reimbursement and only 2 specialties saw a slight decrease. Thoughts?
[]....
Study data was before ACA and the most recent set of cuts. This is a moving target. And those that respond to medscape surveys are always a self selecting group -- the guys actually struggling to bring home the bacon perhaps do not have time for these surveys, so you have to take them with a grain if salt. every specialty collects it's own data and these frequently are at odds with medscapes. Nobody really knows how dramatic cuts might be, but pretty much everyone in health care feels like they will eventually happen across the board. Lots of people are still gambling that they can earn their nut and get out first, though.
Though I will say money is not my primary motivation for going into medicine, your information on this subject has been incredible. Given the situation, what would you recommend for current med and pre-med students going forward? Anything to consider - other than the above - or pathways to emphasize?
Please note law2doc is historically very pessimistic with his posts (think worst case scenario).
Income for physician's is confusing. Over the past 10 years >50% of physicians have received an increase every year in their salaries but overall lose ground to inflation. But guess what....so do many professions. It's not like teachers and lawyers are getting 10% pay increases every year. The top 1% is getting richer and the middle class is shrinking.
Let me ask all pre-meds some questions.....
Do you enjoy medicine? If not....then no amount of money is going to make it 'worth it.' BUT If the answer is yes then move on to the next questions.
What else are you going to do that is going to make you as financially secure?
Do you really think there are many jobs were you only work 40 hour weeks?
What other jobs do you have amazing job security? What other jobs can you pick your location?
Ever heard of the grass is greener? Some doctors say 'they would never have done X specialty' in surveys....but is there ANY job where they wouldn't say the same thing?
Don't trust me, don't trust law2doc. Look at the numbers over the past 10 years and the discussion about future trends/ACA. Read up on the topics and make your own opinion and figure out if it's compatible with your goals in life. AKA do you want a financial secure family or strippers on a private jet?
Will you become "rich" in medicine? Yes and no. Yes, you will be able to buy a nice house, have a new car and send your kids to college without any strain on your wallet. But no you will not have a private jet and a private island.
But no you will not have a private jet and a private island.
I object to someone who probably read but a tiny percentage of my twenty thousand posts and chooses to assassinate my character by saying I'm "historically pessimistic". If you can't argue your position about the issue without criticizing others posting history, you probably don't have much of an argument. I've been both optimistic and pessimistic about many many things over the years.
But I agree he should "read up on the topic". He will find that the pundits who are actually IN medicine have a dim view of future physician salaries. It's not exactly a state secret that reimbursements are on the rise and impacting salaries.
Study data was before ACA and the most recent set of cuts. This is a moving target. And those that respond to medscape surveys are always a self selecting group -- the guys actually struggling to bring home the bacon perhaps do not have time for these surveys, so you have to take them with a grain if salt. every specialty collects it's own data and these frequently are at odds with medscapes. Nobody really knows how dramatic cuts might be, but pretty much everyone in health care feels like they will eventually happen across the board. Lots of people are still gambling that they can earn their nut and get out first, though.
Only if the mechanism of pay is related to supply and not fixed by government set RVUs. Most are just increasing their volume to offset reimbursement cuts, which in turn means less new job growth.So someone said that the problem isn't dropping salaries but the lack of job availability. But in pathology, the avg salary went down a lot because of the glut of pathologists. So shouldn't that theoretically happen to radiologists? I mean the job market crashed only 2 years ago, so enough time hasn't passed to observe what will happen to salaries. But when you increase the supply of something, the price of it goes down, usually...right?
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.
The group more likely to respond would be those that are unhappy about their situation rather than the satisfied ones. People with complaints or something to prove always have time
Not sure about that. One of the reasons why most UG and grad school employment statistics are so skewed is that those that don't have a job or are underemployed tend not to respond. Personally, I would think that salary surveys are more likely to be answered by those doing well. I would however, agree if you say that unsatisfied residents and attending tend to vent more on forums, like SDN.
That could be the case but if I was an attending concerned that public already thinks I am making too much money the last thing I would do is report a high salary.Not sure about that. One of the reasons why most UG and grad school employment statistics are so skewed is that those that don't have a job or are underemployed tend not to respond. Personally, I would think that salary surveys are more likely to be answered by those doing well. I would however, agree if you say that unsatisfied residents and attending tend to vent more on forums, like SDN.
That could be the case but if I was an attending concerned that public already thinks I am making too much money the last thing I would do is report a high salary.
You brag to your buddies or a girl at the bar. But when answering anonymous survey you put the lowest number that is reasonable enough for them to consider truthfulYeah, that would be the smart thing to do. People do like to brag though.
Not sure about that. One of the reasons why most UG and grad school employment statistics are so skewed is that those that don't have a job or are underemployed tend not to respond. Personally, I would think that salary surveys are more likely to be answered by those doing well. I would however, agree if you say that unsatisfied residents and attending tend to vent more on forums, like SDN.
Is that something automatic?(AAMC gives you access to the data once you start medical school).
https://www.aamc.org/cim/specialty/Is that something automatic?
Yeah, that would be the smart thing to do. People do like to brag though.
Is that something automatic?
boonies?my boy who just finished anesthesia shared this with me.
He just took a 450k job in the suburbs of Chicago, around 50 hours a week with 2 overnights. He also said he was beating dudes off who wanted him to work in the boonies for 500k+.
my boy who just finished anesthesia shared this with me.
He just took a 450k job in the suburbs of Chicago, around 50 hours a week with 2 overnights. He also said he was beating dudes off who wanted him to work in the boonies for 500k+.
It's all Obama's fault and his stupid National Health Insurance plan that will never work. Previous presidents have tried it before and haven't succeeded. What makes Obama so confident he can succeed?You are missing the point. The problems in those fields being cut has nothing to do with volume or perceived future need/growth. Volumes have gone up in fields like radiology, where cuts have been the worst. It's based on reimbursements. You show me any field where business is booming, and I'll show you trouble spot where doctors are soon going to be expected to see more and more people for less and less money. Since it not a supply and demand issue, but rather a where can the Fed make judicious cuts issue, you have it exactly backwards. The fields that dont see enough volume to get noticed will be the ones least impacted by reimbursement cuts. To prove the point, cardiology, which you mentioned, is actually a field that's ALREADY starting to find itself hit hardest after radiology right now (largely because it's very image (echo) and procedure (stress tests and caths) based and those are similarly easy to cut reimbursements on).
This doesn't involve a drop in patient volumes or a glut of doctors. In term of patient volumes, healthcare is as robust as its ever been. It's a reimbursement issue -- the government, the biggest insurer, deciding how much less it wants to pay per procedure or study. If you do a big volume business like a million CTs or echoes in a year, losing X cents/dollars on each study is big money. But don't kid yourself that that's the only place they can think of to make cuts.
A specialty like psych, where they do very few procedures and more often work in outpatient settings will be the last to get hit -- they are, as DrBowtie suggested, the shortest blade of grass. But they will feel the cuts eventually.
It's all Obama's fault and his stupid National Health Insurance plan that will never work. Previous presidents have tried it before and haven't succeeded. What makes Obama so confident he can succeed?
Jeb Bush 2016
my boy who just finished anesthesia shared this with me.
He just took a 450k job in the suburbs of Chicago, around 50 hours a week with 2 overnights. He also said he was beating dudes off who wanted him to work in the boonies for 500k+.
I have little doubt that you're accurately reporting the current trend. But what strikes me as extremely depressing about all this is how misdirected the focus is on cutting physician salaries as a method of health care cost containment.I object to someone who probably read but a tiny percentage of my twenty thousand posts and chooses to assassinate my character by saying I'm "historically pessimistic". If you can't argue your position about the issue without criticizing others posting history, you probably don't have much of an argument. I've been both optimistic and pessimistic about many many things over the years.
But I agree he should "read up on the topic". He will find that the pundits who are actually IN medicine have a dim view of future physician salaries. It's not exactly a state secret that reimbursements are on the rise and impacting salaries.
Just out of curiosity, is he a subspecialist?my boy who just finished anesthesia shared this with me.
He just took a 450k job in the suburbs of Chicago, around 50 hours a week with 2 overnights. He also said he was beating dudes off who wanted him to work in the boonies for 500k+.
Easy solution: Just don't accept Medicare/MedicaidI have little doubt that you're accurately reporting the current trend. But what strikes me as extremely depressing about all this is how misdirected the focus is on cutting physician salaries as a method of health care cost containment.
I read an article recently that explained that physician salaries account for roughly 10% of total healthcare costs (and this has been consistent for some time). What this means is slashing physician salaries by, say, 20% would only reduce healthcare spending by 2% while utterly demoralizing some of our most essential professionals. Can any reasonable person truly believe this is a good course of action? And yet, this is essentially what it seems policymakers aim to achieve over the next few decades.
I don't want to call you a "pessimist", but what makes you so sure that effective political advocacy on the part of physician groups will be unable to move the dial on this, both with the public and in Washington? Preserving physician salaries may seem politically unpalatable, but it certainly is far more reasonable policy. Without any reason to think otherwise, I would say I'm "optimistic" that the paradigm will shift before the situation becomes too dire.
I have little doubt that you're accurately reporting the current trend. But what strikes me as extremely depressing about all this is how misdirected the focus is on cutting physician salaries as a method of health care cost containment.
I read an article recently that explained that physician salaries account for roughly 10% of total healthcare costs (and this has been consistent for some time). What this means is slashing physician salaries by, say, 20% would only reduce healthcare spending by 2% while utterly demoralizing some of our most essential professionals. Can any reasonable person truly believe this is a good course of action? And yet, this is essentially what it seems policymakers aim to achieve over the next few decades.
I don't want to call you a "pessimist", but what makes you so sure that effective political advocacy on the part of physician groups will be unable to move the dial on this, both with the public and in Washington? Preserving physician salaries may seem politically unpalatable, but it certainly is far more reasonable policy. Without any reason to think otherwise, I would say I'm "optimistic" that the paradigm will shift before the situation becomes too dire.
Just out of curiosity, is he a subspecialist?
Wow, that job offer seems super high paying. I thought anesthesiologists only make 250-300k.nope, he just did anesthesiology and decided against a pain medicine fellowship because of the job offers.
Average was 320k several years agoWow, that job offer seems super high paying. I thought anesthesiologists only make 250-300k.
Even if true, it's just an averageWow, that job offer seems super high paying. I thought anesthesiologists only make 250-300k.
Average was 320k several years ago
Yea. I will trust AAMC more though since it is THE "American Association of Medical Colleges." Sounds more credible than www1.physiciansalary.comAAMC reports an average of 427k. Again, big discrepancy between AAMC and medscape/whatever free self-reported data is available online.
It's all Obama's fault and his stupid National Health Insurance plan that will never work. Previous presidents have tried it before and haven't succeeded. What makes Obama so confident he can succeed?
Jeb Bush 2016
First off, it's the ACA (Affordable Care Act) or PPACA if you want. In my opinion the real solution to this problem is quite simply to unfreeze the number of residency slots from 1997 levels. That would result in more new physicians, thus addressing the problem. Of course, like all HC reform, this is a political goal, and therefore will be extremely difficult to realize.Maybe this is my naivete or whatever but does the Affordable Health Care Act really matter in terms of the responsibilities of most physicians? Our population is increasing and we have a larger aging segment. There would inevitably be more work for all of us, which means medicine would be less cushy regardless of the specialty. Those patients would have to be seen even if it ate into our dinner or yoga/golf time. I hope I'm not too jaded or burned out in ten years to remember this but I went into medicine because I wished to undertake the responsibility of putting patients first.
Those who are entering lifestyle specialties and the like probably have different goals than someone like me who aspires to primary care but I still think it's appalling that so many people are using the issues with the AHCA as a subterfuge for their greed and laziness, regardless of the problems with the bill. Not saying that people on this thread are doing this but this problem seems to be endemic among those in medical training.
First off, it's the ACA (Affordable Care Act) or PPACA if you want. In my opinion the real solution to this problem is quite simply to unfreeze the number of residency slots from 1997 levels. That would result in more new physicians, thus addressing the problem. Of course, like all HC reform, this is a political goal, and therefore will be extremely difficult to realize.
Even so, something I think you're missing is that many physicians are working longer hours, seeing more patients, performing more procedures, but due to declining reimbursement, aren't making any more more money, or are actually making less. So the issue isn't as much to do with hours per se as the fact that so many are having to run faster than ever just to stay in place. Especially for physicians who have worked in the field for many years, I'm sure this reduction of the value of their work is especially painful. So don't be so quick to villainize the profession we hope to enter.
The next republican president in office, which will probably be 2016, will kill the Affordable care act.
There won't be any Republican President for a while.
... There are threads like this going back the last decade and salaries haven't taken a huge hit like people predicted. If only making between $180,000-$500,000 is an issue reevaluate your career options and choose another one where you're guaranteed a $500,000 + salary so you can be happy.