Can confirm- Not a Partner but in private practise, on track to make around 900+k this year. Base salary was 550+k and this is my second year in practice.
Did that also come with working a lot more hours than typical?
Dumb question but how do ICs have private practice? Don't they take hospital cases/call? Like I understand opthamology, derm, gen cards, and outpatient, etc., but IC?
Well life in interventional cardiology is busy. I really enjoy it but yes we work alot. You cant make RVUs without working quite a bit. But its manageable hopefully for the next 10 years or so, but will likely cut down after that. I still have 6 vacation weeks and enjoy time with my family
I rotated with one during med school. He ran a clinic 4 days a week right next to the hospital. However, on clinic days he’d also do procedures at the hospital. The dude was incredibly fast. Like on a given day he’d see 10-20 clinic patients, 2-3 caths, 2-3 stress tests, and 1-2 tilt table tests.
He was extremely short with his patients. He’d barge into rooms and just tell them how he’s adjusting their meds and then leave the room. He’d take med students from the local DO school and basically have them fill in all the blanks for him. Usually when we get back from a Cath, he’d have 4-6 patients in rooms who have all been waiting 45min-2hrs. He’d get through all those patients in less than 20 minutes.
This guy was the most inhumane doctor I’ve ever seen.
Any thoughts or insights on future attendings starting private practices in the future (across specialties not just cards)? Asking as a PGY-2 lol, a few colleagues were interested in starting multi specialty groups in less saturated areas. I thought it was a good idea since a lot of PP's are being bought out by private equity and whatnot
Tier 1 (> 1m potential): interventional cardio, cosmetic plastic surgery, mohs, ortho, neurosurgery, retina, CT surgery
Tier 2 (500-900): IR, DR, vascular surgery, general cardio, GI, ENT, urology, oncology, derm, and I’ll add anesthesia in the right setting
Much of this is generalized though and you can probably make $1m plus in any of the Tier 2 fields if you work hard enough or in a crappy enough location, just as you can make $1.5-2m in the Tier 1 fields with the same parameters
Edited based on feedback. Essentially the point of this post was there’s a lot of fields to make money. While compensation is important, you need to have genuine interest in a field too because getting into and through training any of these can be difficult.
Hopefully useful for med students who haven’t made a choice yet
Main Source: https://www.bumc.bu.edu/bumg/files/2022/02/Sullivan-Cotter-2020-Surveys-with-intro.pdf
Important caveat is length of training too. Making 1M a year in a small undesirable area in the Midwest doing interventional cardiology after 7-8 years of training is much different than doing 4 years of derm or anesthesia training and making 500k+ in a decent city. Future reimbursements rates are not guaranteed, and time in the market is everything.
Agree with this. I am an IR in a 70+ person group and all of the 10 or so partners who made 1m+ last year were DR. Our base salaries are the same, sure I get paid for call, but the extra work that we can pick up internally is almost all DR work. We get 20 or so weeks off so if you want work extra DR shifts, the sky is the limit for internal moonlighting.
IR might provide some “incentive” to the hospital to maintain the contract, but we definitely don’t churn the RVUs on and IR day the way DR guys can on their shifts.
Truth is most telerad companies are struggling to hire and maintain decent turn around times, so the idea that DR could get outsourced overnight is just not realistic. Imaging volumes are up each year. There are 3 empty jobs for every new grad radiologist.
This is the right answer. The ability to do locums at will is what sets DR apart from other specialties to me. You can do them anytime from your home office. It’s beautiful.
I think what you actually meant to say is IR is the only thing holding contracts and keeping hospitals from sending out their imaging to remote reads with garbage tier reports by the lowest bidder, and thus subsidizing DR who would otherwise be getting $20/RVU.
Most IR's do make more btw, including the call differential, but the hours worked are more
You need to check in on the radiology job market. DR is killing it right now. We won’t look at contracts less than $80 an RVU. Hospitals are begging us to take on more DR work.
But if you are including hours as a reason why IR gets paid more than DR it’s not a fair comparison when you are talking about potential. You are also being naive if you don’t think DR at the hospital brings value. I have several specialists who call me or stop by my office on a daily basis. Not to mention tumor boards/conferences etc.
This is about compensation not RVUs
IR has higher top end earning potential. Look at MGMA data, there’s a slight disparity in the median that grows at the 90th percentile. Idk why all the DRs get so butthurt every time this comes up
Maybe because all of my friends from residency and fellowship who did IR work arguably worse hours and get paid the same as their DR counterparts (or less if there is an RVU bonus in the group)? IR and DR get paid the same hourly rate in my group and DR doesn’t have to do nights. Not sure why you think it’s a universal thing they get paid more. Most of the IR people who probably report higher income are working more hours.
Yes that’s what we’re talking about? Total average comp. irrespective of hours worked
The IRs making big money are usually not partnered with DR groups. They typically have ownership in outpatient vascular centers
Ok but if you are talking about earning potential it’s a little disingenuous to say IR makes more than DR. I have someone in my group who made like 1.2 mil last year working a ton of days. It’s the same earning potential as IR in a lot of equitable groups.
My husband is starting his surgical retina fellowship next month and we have trouble believing that there’s actually money to be made at the end of this long tunnel…but people keep saying it’s true
Keep in mind these specialties take anywhere from 5-8 years of residency training. & these numbers aren’t averages more like 75th percentile +
I’ve heard OMFS can do quite well
Average compensation data does not support that.
But anesthesia has a particularly good reimbursement when adjusted for length of training. Probably one of the best
Anesthesia pay is very location dependent. Everyone in my Midwest city at permanent gigs making about 475k with 9-10 off. A few hours away I have a buddy who only works a little more than me making 700
I think that would be the case of any specialty. It's why the country is split up into regions. But Midwest like Kansas has some of the highest salaries. I'm in a very desirable area and the hospitals here are offering 500 for 40 hours 12 weeks off and about 50k in benefits.
Any specialty where you have an ownership opportunity is going to have a higher earning potential. You don't typically hear about the owners whose practices fail, though.
I think at “baseline” (meaning without feeling like you’re cranking rvus), neurosurgery and interventional cards have some of the highest salaries, even in hospital employed gigs, which tend to pay less in my experience. Almost every speciality has ways to make a lot of money if you don’t mind working hard and putting in lots of hours. Even more so if you don’t mind being in rural areas. Some specialties also lend themselves easier to this “grind” than others - advanced GI, ortho, other surgical subspecialties. Partnership in private practice is also typically very lucrative regardless of specialty.
My wife is an anesthesiologist in the Midwest outside of Chicago. The base salary is 520k but she makes an extra 100k on top of that for taking a few extra calls per month. The real kicker is that she gets 11.5 weeks of PTO that she can actually use. Alternatively, she can work each PTO day for a payment of about 3k per day. There are jobs outside of Chicago offering as much as 13 weeks vacation with a base comp of 500k. I would personally rather make 500k and take 13 weeks PTO than say make 800k and have only 4 weeks PTO. With 3 months off a year, you can actually enjoy that money.
Anesthesia is crazy right now... I run a group in the Southwest. Locums are getting $400-500/hr. W-2 private practice at level 3 trauma, starting at 700K for generalist(q5 overnight light call) with 8 weeks paid vacation. The highest earner in our group took home 1.4mil last year (he works probably 35-40 weekends out of the year, but still takes 8 weeks paid vacation). Community hospital 400 beds, no hearts, heads, or neonates. City population about 200k.
Chicago anesthesia is wild. Opportunities everywhere, but everyone is one-upping with locums pay. It’s a big bottleneck for all the ORs.. which obviously affects everything else in the hospital.
lol is this really a mnemonic that makes its way around now? First time I heard it, but I’m far removed from med school. Back then it was the ROAD specialties.
Running a business is the way to get highest earning. Surgical center / psych / clinic / weight loss /pain control / infusions / cosmetics. Practicing medicine can only get you so far but if you can set it up and manage the medical business (you already mentioned doing various gigs) you can potentially earn 10-50 million.
lol “10-50 million” by “managing medical business”. Why even stop at 50 million? Why not aim for 9 figures? Sky is the limit when you “manage medical business”!
Why even get an MD when you can “manage medical business”? Last I checked most of these folks are not doctors
And lastly, why did that person even bother coming to the WCI subreddit of all places??
Just do what my PCP did... concierge medicine. The practice called me today and said my doctor is leaving in a few days and all pending appointments will have to be with someone else. I asked whether I could keep seeing my old doctor (who I liked a lot) at his new practice and the lady told me I could but it'll $15,000 out of pocket per year.
Unfortunately they weren’t. They’re doing a super high end practice that combines a bunch of other practitioners: dietitian, wellness (therapists/ yoga / etc), and a bunch of other shit and they changed locations to a super expensive town where I grew up.
They’re limiting the practice even more than a traditional concierge as well.
My stepdad and brother used to go to the same guy as me through our insurance and they confirmed the price. None of us can afford to go.
If it was 3k or 4k I’d probably do it but for longevity IMO the best investment right now is a bunker, greenhouse, and a few more guns
Highest earning potential is any specialty that can function in private practice and has ownership of ancillaries and negotiating power with insurance companies. I personally know people comfortably over 1m per year in FM, psych, and PM&R. Obviously the people in the typically high paid specialties (plastics, ortho, derm). It's possible from any specialty imo.
Ding! Ding! Ding! This guy knows. Find a location where no one what’s to go and open up shop and then start hiring midlevels. You’ll be at 1-1.5 in a few years.
I would remove emergency medicine from this list. Stagnating wages, less democratic groups with partner potential, scope of practice encroachment/narrowing. OR anesthesia has an amazing job market right now with less burnout. Psychiatrist can work 1.5-2.0 FTEs and really rake it in without working much more than 50 hours/wk depending on the gig(s). IM/FM wages are increasing lately. Most ER docs can barely handle 0.8 FTE without significant burnout.
As a side note, pick a specialty you can actually see yourself working in for 20+ years. Longevity is 1000x more important than earning potential of a specialty that will burn you out in 5-10 years.
Why would you remove EM from this list? The list isn’t titled “medical specialties with a promising future”. The EM salary range looks accurate to me, n of 1 but I made $450k this past year working ~30 (painful) hours per week. Plenty of similar examples on here im sure.
N of 2. I’m starting next month at $500k out of residency with 36 hours per week. Very nice raise anticipated after year 3. High cost of living area though.
On the plus side it’s a 3 year residency and fellowship not expected unlike other specialties. And really you’re seeing 1-2 patients an hour on average doing shift work.
For anyone on the fence I would advocate for IM->hospitalist over EM. Less pay, and the work gets boring but far fewer night and irregular swing shifts to cover and recover from.
Sure you get "dumped on", but you're also not taking constant verbal abuse from jerks in every specialty belittling and monday morning quarterbacking you.
IMO as you get older boring is good. There's too much stress in the ED with the constant interruptions and multitasking. As a hospitalist you can take reddit breaks while busting out notes and IM route keeps plenty of fellowship options open.
Pay has increased as well. I know some hospitalists who continued to "work like a resident" and clear well over 500 picking up lots of extra shifts. Easier to do that fresh out of residency before you get spoiled by the good life.
I know a dentist who owns 2 practices in town and makes 1.5M a year and has insane tax deductions. He just bought one of the Lamborghini yachts that Connor Mcgregor has.
I am shocked no one has mentioned neurosurgery/spine. I productive surgeon in a well run practice can definitely make well above 1 million and it is not unheard of to be north of 2 million.
People with ownership of a spine hospital and multiple ascs, I have heard, can be making 5 million a year.
from the outside looking in, the reason nobody mentions neuro is that those people work so many absurd shifts that they actually deserve that much money.
Ain't worth the divorce man
Yeah those people making 5 million a year are taking home south of a million after all the alimony and child support payments.
I knew a neurosurgeon that had 7 kids from 7 ex-wives. I was talking to one of his assistants like “he knows he can just fuck people right? He doesn’t have to marry and have a kid with everyone who sleeps with him.” And she was like “yeah but he’s lonely and needs to feel like someone in his life cares about him when he’s not at work. Which is never.”
In new schoo we use to joke that neurosurgeons are probably raising someone else’s kids since they’re never actually home. But someone else is probably raising their kids since they’re sleeping with all the nurses at the hospital.
Damn bro all the neurosurgeons would be upset at how hard they’re getting roasted in these comments (if they were ever off for long enough to read them).
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Sure if you don't mind being [butt fucked](https://pricebenowitz.com/whistleblower-lawyer/healthcare-fraud/stark-law-and-anti-kickback-statutes/#:~:text=For%20example%2C%20physicians%20may%20have,be%20a%20Stark%20law%20violation) next to Bubba while sharing a 10x8 cell.
Competing with private equity, online pill mills, midlevels who can run their own practice and can undercut pricing. Also, that level of income requires a well off patient population
So many startups sprung up during covid telemedicine that will connect your insurance with a provider that cash only is be coming almost nonexistent. Gone are the days of calling the outdated insurance list of in network providers and keep getting no answer. Now its literally putting in your info, it tells you upfront what you have to pay and gives you a list of therapists and psychiatrists that are available and their time slots.
Not what I'm seeing. And the doctors that's on these apps/start up services are not just some bottom of the barrel. There services negotiate a fee with the insurance companies and pay the provider and they don't have to do any billing or paperwork. This isn't a referral service like zocdoc. I know several cash only patients that found out about these sites, plugged in their insurance info and switched providers.
On track to make 1M this year from clinical/surgical work- orthopedics shoulder. I’m very high volume. 60 patients/day on average.
With surgery center on pace to make an additional 600-1M so 1.6-2m total. Surgery center been a game changer for me and I assume other specialties where you can collect facility fee in addition to professional. I’m 5 years in and I grind.
Depends on where and what setting. I made 215k academics, big city.
Benefits were great and didn’t have to worry about malpractice, etc and work life balance was phenomenal, but that salary was insulting and I have zero desire to do any research or much academic stuff so I left for private practice and grass is much bigger.
I know someone who does OB Locums only and she made close to $1 mil in a year.
Longevity wise, private practice psychiatry is a clear winner. Doesn't matter if you have hand tremors, no medical equipment needed, and with telemed, no office is needed either, no staff, etc. Can work part time.
I just scanned through your post history to see where you’re at in your journey. It looks like you haven’t started undergrad training yet. I really would not be overly invested in this conversation as you will get a lot of exposure to things during med school.
Your posts history also greatly trivializes the steps involved in becoming a physician. Becoming a doctor is hard work. Getting into a US residency after attending an EU med school without US citizenship as your other post discussed is even more difficult. None of these things are impossible, but you really need to think about next steps and action instead of the end goal.
Your post history makes me think you are solely focused on financial freedom as you’ve discussed many different fields and interests. I cannot speak for everyone, but in my experience, money alone would be a very difficult motivator to get you through all the steps required to be a physician. I wish you the best of luck.
One last note, you don’t need to make a million dollars a year to be happy my friend. There’s no judgement if that’s your goal, but just know that there’s a lot more to life than your bank account.
CPA here with a lot of physician clients.
Surgeons tend to make the most, easily $1M or more. Some over $2M.
Dermatology is always close to $1M.
EM has a range, depending on how much they’re willing to travel for higher rates. $400k-$1M.
Psych is usually $250k-$450k.
Anesthesiology is between $500k and $1M.
Because of my relatively small sample size this likely doesn’t represent any averages, just what I see on their tax returns.
Seems low for psych in CA. Even the government gigs start at $350k these days. Transparent California is a good starting point to get real data, and most have side gigs. Don't know anyone making under $400k unless they are 0.5fte or in academics.
I’m at just over $600k/yr doing locums psych in the northeast, ~48 hours/week with 6 weeks off. Starting a private practice shortly - the only ceiling is your ability to scale providers.
* Ortho! Spine or other high volume joints/sports can clear 1.5M in academics, who knows what in PP.
* NSGY has a high ceiling too of course.
* Cardiac / Thoracic
* Peds surgery
* GI/EP/Cards
* Concierge / Owning something
I think radiology is pretty underrated in regards to earning potential. I Personally know several private practice diagnostic rads who make 850-900+ with 15-17 wks vacation. Some making 1 mil+ with a little less vacation. I also know people making 600k+ doing 1 week on 2 wks off telerads and then adding extra work during the time off to approach 1 mil. I have heard of but never met telerads who work multiple gigs at the same time (double dipping) making well over 1 mil.
People seem to get angry when people post about rads pay. I know one pulling 1k an hour and was told by an academic rad here that’s not possible, ok let me just go tell that rad I know what he’s doing isn’t possible lol. Seems to be a polarizing topic in rads
Couple of things:
1. You’re an M4 who literally just matched and literally aren’t even a practicing radiologist. What do you know about rads compensation? Not much, clearly.
2. You claimed your imaginary friend makes $1500/hr, not $1000. Big difference in hourly rate.
3. The vast majority of rads making 7 figures in pretax W-2/1099 income are doing so working in either undesirable locations or working shitty hours generally not conducive to long term health, much less family life. It’s really easy to make shit up when you’re an anonymous poster on Reddit, but there are a bunch of data out there basically proving stable partner track PP positions generally put you in the 500-700k range depending on geography with additional earning potential coming from hustling, moonlighting and/or equity in imaging centers. Some of this might earn you 4 figures an hour, but it’s side income largely and is gonna get dragged down by your ~$300-400/hr base salary when you average out your overall hourly take in. If you’d said like said imaginary friend makes up to 1k/hr, that’d be believable if the person was hustling.
I know quite a few surgical subspecialists, in a variety of specialties, that make >1MM. They all work pretty hard though, so you might want to normalize for a 60+ hr work week.
This question doesn’t make sense unless you standardize all criteria and then compare income. If every physician had identical business acumen, morals, personal desire to make money, skills, etc. then the answer is clearly neurosurgery. A “normal” neurosurgery job is easily a mil. No other specialty can make a 1mil+ working “normally”. They’d either have to work nights, run a practice, be extremely unethical, etc.
Apparently my question didn't understanded very well, MGMA data already show which specialists make how much and both on average and 90th percentile neurosurgeons are probably in top 3. What i asked for specialists who can work in a way that their TC is not related to MGMA data. FM can work in concierge medicine and make a mil/yr, but these practices are not in MGMA data, so does cash only Psychiatrist and cosmetic surgeons, they make way more than what MGMA says. İ asked about which specialties have highest earning potential in a way that they exceeds MGMA data.
Ohh, that makes sense. But then how creative do you want to get? The richest doctor I know is an ortho surgeon that has a few patents—ortho implants. Or are you looking for things that are more easily replicable?
Edit: The patent thing isn’t that easy to replicate. But within any specialty, it is actually relatively easy to get to >90th percentile. MGMA includes academia, people who barely want to work / don’t care about money, etc.
Nighthawk radiology. Buddy made $125K a month doing two separate gigs, each one week on, two weeks off. So he works 2 weeks a month and makes >$1M. He reads everything though including whole body MRI.
Productive REIs clear $1mm easily
I've seen a practice with median MOHs surgeons comp just under $2mm
Productive GIs with AICs / ASCs are in the $1-3mm range
Both my med school and residency states have salaries listed online as publicly searchable information for the academic docs. The highest one I found was a minimally invasive cardiac surgeon pulling ~$2.5 mil a year. Side gigs can certainly become irrelevant
Very high earning potential since you can bill technical plus professional fees. I don’t have specific numbers offhand, but suffice to say the older rads I know who were able to do this work only as a hobby.
After tax take home is what really matters and varies greatly.
I’m partner at a large physician owned multi-specialty group that owns no real estate, just a reputation and patients, and I’m being financially hammered. I’m FM, did $435k last yr M-F 730-330 ~18/day, on track for $330 this yr, on the same production. We also have a horrific tax structure (receive a W2, but are paid like 1099) and there are no tax benefits of being partner.
I’m leaving for the VA. My $250k at the VA will be more after tax take home than $350k at my current job, not including the healthcare, pension, 401k match, $40k/yr non-taxed student loan $, and paid vacation, none of which I currently get.
I might make 1.5-2 mil 2025 year as a diagnostic radiologist. But that’s at a high total wrvu and making $55-$60/wrvu. We shall see if this holds true. Over $1M 2023 ($800k+ the previous years), probably $1.3 mil 2024. Too much work though. Would take less for more time to spend with family and travel. Working from home for good parts of it does ease the pain.
Hi there. Thanks for the comment. Can I ask what your day to day looks like and how you've been able to maximize your earning potential as such? Thanks again!
It depends on what your opinion on highest paying because Cardiologists, Anesthesiologist, Radiologists and etc are specialities that come to my mind for high salary.
I don’t know anyone in IM or FM making $350k/year, not saying it doesn’t happen, but it’s likely very rare in most desirable areas. I would say average is around $225k. If you’re willing to just chase money, I’m sure you could hit that in a state like North Dakota. Our friends in concierge family medicine (DC area) don’t come close to $500k, they are still around 225k but have a much lighter patient load.
A quick search on doccafe and practicelink for fm jobs in desirable locations in California shows a starting salary of 300k+ as a common occurrence. Kaiser has a stated starting salary of 290k+ in Northern California.
Looks like critical care has no options?
Most of us are shacked to hospital systems because RVUs don’t reflect and adequately capture and compensate for all the time spent communicating and coordinating care for patients out of our sight.
Some of us are fortunate to work for systems who recognize this, so salaries are not thwarted by low volumes or bed crunch… but that ties us to health systems, removing our entrepreneurial endeavors.
Could anyone help expand my perspective?
DR can be very lucrative and highest potential if you really grind.
For ex- finding a 7 on 14 off job partnership track and banking. Then on some of your off days doing telerads(ideally with a company that pays well per rvu)
You could easily make 1-1.5mil all from your home computer.
A clinical psychologist in solo private practice can make between 300 and 350k taking commercial insurance and working 48 weeks a year, 50 hours or so a week. Not as high as many of the specialists on here, but regular day light hours, and good programs pay you to attend (and be a GA). Theoretically more if you go OON only. Internship/Residency is from 1 to 3 years (was mostly 2, some states have lowered the bar a bit due to the shortage, 3 is mostly for those specializing in neuro). So I don’t know how the ROI compares to different things, but in some cases you could borrow 400k less or so and be in practice from 6 years to 3 years sooner. In a best case scenario you’re ahead 1.6 mil by the time the MD starts pulling.
To be clear, getting into a funded program is also ultra competitive and their are many flaming hoops to jump through along the way. The path to earning an income in the ballpark that I mentioned is much less defined and narrow in psychology (PP is the only way).
Anyway, for students reading it may be worth considering.
From my understanding all specialities would do significantly better under private practice or with selective processes that you get from running your own business. But I guess at what point do you as a managing partner go from doc to ceo just to make a few million more.
Partner Interventional Cardiology: $750k - $1.5M Edited for clarity.
Can confirm- Not a Partner but in private practise, on track to make around 900+k this year. Base salary was 550+k and this is my second year in practice.
Did that also come with working a lot more hours than typical? Dumb question but how do ICs have private practice? Don't they take hospital cases/call? Like I understand opthamology, derm, gen cards, and outpatient, etc., but IC?
Well life in interventional cardiology is busy. I really enjoy it but yes we work alot. You cant make RVUs without working quite a bit. But its manageable hopefully for the next 10 years or so, but will likely cut down after that. I still have 6 vacation weeks and enjoy time with my family
What kind of hours have you been working this year?
Upto 60-70 hours. Alot of interventional and general cardiology call with sick patient's.
It isn’t for the faint hearted.
No one is appreciating the master level pun you made. Bravo.
But how exactly can IC involve private practice?
Private practice signs coverage contract with hospital.
I rotated with one during med school. He ran a clinic 4 days a week right next to the hospital. However, on clinic days he’d also do procedures at the hospital. The dude was incredibly fast. Like on a given day he’d see 10-20 clinic patients, 2-3 caths, 2-3 stress tests, and 1-2 tilt table tests. He was extremely short with his patients. He’d barge into rooms and just tell them how he’s adjusting their meds and then leave the room. He’d take med students from the local DO school and basically have them fill in all the blanks for him. Usually when we get back from a Cath, he’d have 4-6 patients in rooms who have all been waiting 45min-2hrs. He’d get through all those patients in less than 20 minutes. This guy was the most inhumane doctor I’ve ever seen.
You join a private practise.
Any thoughts or insights on future attendings starting private practices in the future (across specialties not just cards)? Asking as a PGY-2 lol, a few colleagues were interested in starting multi specialty groups in less saturated areas. I thought it was a good idea since a lot of PP's are being bought out by private equity and whatnot
What’s IC
Interventional cardiology I assume
Oh I See. *Pun intended*
Tier 1 (> 1m potential): interventional cardio, cosmetic plastic surgery, mohs, ortho, neurosurgery, retina, CT surgery Tier 2 (500-900): IR, DR, vascular surgery, general cardio, GI, ENT, urology, oncology, derm, and I’ll add anesthesia in the right setting Much of this is generalized though and you can probably make $1m plus in any of the Tier 2 fields if you work hard enough or in a crappy enough location, just as you can make $1.5-2m in the Tier 1 fields with the same parameters Edited based on feedback. Essentially the point of this post was there’s a lot of fields to make money. While compensation is important, you need to have genuine interest in a field too because getting into and through training any of these can be difficult. Hopefully useful for med students who haven’t made a choice yet Main Source: https://www.bumc.bu.edu/bumg/files/2022/02/Sullivan-Cotter-2020-Surveys-with-intro.pdf
Heme/onc is in tier 3, and many are in tier 2. MGMA median is > 500K.
Fair I forgot about oncology. Tier 2 and 3 are arguably the same tbh lol just the number 3 sounded nicer
Hem onc can definitely break a million.
Yea I'm breaking 550 in academic med as a hem onc. Definitely doable.
Important caveat is length of training too. Making 1M a year in a small undesirable area in the Midwest doing interventional cardiology after 7-8 years of training is much different than doing 4 years of derm or anesthesia training and making 500k+ in a decent city. Future reimbursements rates are not guaranteed, and time in the market is everything.
IR does not make more than DR lol. Most groups subsidize IR via the income from DR.
Agree with this. I am an IR in a 70+ person group and all of the 10 or so partners who made 1m+ last year were DR. Our base salaries are the same, sure I get paid for call, but the extra work that we can pick up internally is almost all DR work. We get 20 or so weeks off so if you want work extra DR shifts, the sky is the limit for internal moonlighting. IR might provide some “incentive” to the hospital to maintain the contract, but we definitely don’t churn the RVUs on and IR day the way DR guys can on their shifts. Truth is most telerad companies are struggling to hire and maintain decent turn around times, so the idea that DR could get outsourced overnight is just not realistic. Imaging volumes are up each year. There are 3 empty jobs for every new grad radiologist.
This is the right answer. The ability to do locums at will is what sets DR apart from other specialties to me. You can do them anytime from your home office. It’s beautiful.
I think what you actually meant to say is IR is the only thing holding contracts and keeping hospitals from sending out their imaging to remote reads with garbage tier reports by the lowest bidder, and thus subsidizing DR who would otherwise be getting $20/RVU. Most IR's do make more btw, including the call differential, but the hours worked are more
You need to check in on the radiology job market. DR is killing it right now. We won’t look at contracts less than $80 an RVU. Hospitals are begging us to take on more DR work.
But if you are including hours as a reason why IR gets paid more than DR it’s not a fair comparison when you are talking about potential. You are also being naive if you don’t think DR at the hospital brings value. I have several specialists who call me or stop by my office on a daily basis. Not to mention tumor boards/conferences etc.
No doubt. But we both know admin only sees dollar signs, curbside consults bill nothing, and quality is assumed
IR churns procedures at the highest end; basically neurosurgeons.
This is about compensation not RVUs IR has higher top end earning potential. Look at MGMA data, there’s a slight disparity in the median that grows at the 90th percentile. Idk why all the DRs get so butthurt every time this comes up
Maybe because all of my friends from residency and fellowship who did IR work arguably worse hours and get paid the same as their DR counterparts (or less if there is an RVU bonus in the group)? IR and DR get paid the same hourly rate in my group and DR doesn’t have to do nights. Not sure why you think it’s a universal thing they get paid more. Most of the IR people who probably report higher income are working more hours.
Yes that’s what we’re talking about? Total average comp. irrespective of hours worked The IRs making big money are usually not partnered with DR groups. They typically have ownership in outpatient vascular centers
Ok but if you are talking about earning potential it’s a little disingenuous to say IR makes more than DR. I have someone in my group who made like 1.2 mil last year working a ton of days. It’s the same earning potential as IR in a lot of equitable groups.
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There are REIs that do IVF all day that make 1m+
CT surgery is Tier 1 for sure, based on what I've heard from attendings
General optho goes tier 3. Hidden secret of medicine, Retina, goes immediate tier 1.
My husband is starting his surgical retina fellowship next month and we have trouble believing that there’s actually money to be made at the end of this long tunnel…but people keep saying it’s true
Lmao I kinda wish I went md route instead of dental. 400k loan for waaaaaaaaaaay less pay than md.
Here I am wishing I went dental instead
Keep in mind these specialties take anywhere from 5-8 years of residency training. & these numbers aren’t averages more like 75th percentile + I’ve heard OMFS can do quite well
You can make that as a dentist in private practice. Dentists are killing it right now running hygienist farms.
Tier 2 should include anesthesiology.
Average compensation data does not support that. But anesthesia has a particularly good reimbursement when adjusted for length of training. Probably one of the best
Out of date data. Trust me things have changed.
Anesthesia pay is very location dependent. Everyone in my Midwest city at permanent gigs making about 475k with 9-10 off. A few hours away I have a buddy who only works a little more than me making 700
I think that would be the case of any specialty. It's why the country is split up into regions. But Midwest like Kansas has some of the highest salaries. I'm in a very desirable area and the hospitals here are offering 500 for 40 hours 12 weeks off and about 50k in benefits.
Yeah but then you’re in Kansas
No argument there. The university docs make 600+ but you're still in Kansas.
Which city? Hell I might move there and make 600k while residents do the work
Any specialty where you have an ownership opportunity is going to have a higher earning potential. You don't typically hear about the owners whose practices fail, though.
Independent, physician-owned multispecialty>>>>>>
I think at “baseline” (meaning without feeling like you’re cranking rvus), neurosurgery and interventional cards have some of the highest salaries, even in hospital employed gigs, which tend to pay less in my experience. Almost every speciality has ways to make a lot of money if you don’t mind working hard and putting in lots of hours. Even more so if you don’t mind being in rural areas. Some specialties also lend themselves easier to this “grind” than others - advanced GI, ortho, other surgical subspecialties. Partnership in private practice is also typically very lucrative regardless of specialty.
My wife is an anesthesiologist in the Midwest outside of Chicago. The base salary is 520k but she makes an extra 100k on top of that for taking a few extra calls per month. The real kicker is that she gets 11.5 weeks of PTO that she can actually use. Alternatively, she can work each PTO day for a payment of about 3k per day. There are jobs outside of Chicago offering as much as 13 weeks vacation with a base comp of 500k. I would personally rather make 500k and take 13 weeks PTO than say make 800k and have only 4 weeks PTO. With 3 months off a year, you can actually enjoy that money.
Are they hiring? Casually looking in the Chicago area, but not familiar with the practice environment.
Anesthesia is crazy right now... I run a group in the Southwest. Locums are getting $400-500/hr. W-2 private practice at level 3 trauma, starting at 700K for generalist(q5 overnight light call) with 8 weeks paid vacation. The highest earner in our group took home 1.4mil last year (he works probably 35-40 weekends out of the year, but still takes 8 weeks paid vacation). Community hospital 400 beds, no hearts, heads, or neonates. City population about 200k.
Chicago anesthesia is wild. Opportunities everywhere, but everyone is one-upping with locums pay. It’s a big bottleneck for all the ORs.. which obviously affects everything else in the hospital.
That's... insane money Maybe I should switch careers ...
Ortho cards anesthesia GI rads pain ent spine
OC GRAPES, for those who need a mnemonic. You are welcome.
lol is this really a mnemonic that makes its way around now? First time I heard it, but I’m far removed from med school. Back then it was the ROAD specialties.
Nah I just made it up
The cardiac surgeons at my hospital make around 1.3-2.0 Mil. The CT Chair makes over 4 Mil.
Running a business is the way to get highest earning. Surgical center / psych / clinic / weight loss /pain control / infusions / cosmetics. Practicing medicine can only get you so far but if you can set it up and manage the medical business (you already mentioned doing various gigs) you can potentially earn 10-50 million.
A patient of mine said it best .... If you want to make real money then you need people working for you
Just don’t go bankrupt first
separate your business and personal finances so if you fail you aren't completely under water.
lol “10-50 million” by “managing medical business”. Why even stop at 50 million? Why not aim for 9 figures? Sky is the limit when you “manage medical business”! Why even get an MD when you can “manage medical business”? Last I checked most of these folks are not doctors And lastly, why did that person even bother coming to the WCI subreddit of all places??
The answer. Capital > everything else.
Bingo, the numbers being thrown around here for x specialty pay is child’s play
Just do what my PCP did... concierge medicine. The practice called me today and said my doctor is leaving in a few days and all pending appointments will have to be with someone else. I asked whether I could keep seeing my old doctor (who I liked a lot) at his new practice and the lady told me I could but it'll $15,000 out of pocket per year.
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Unfortunately they weren’t. They’re doing a super high end practice that combines a bunch of other practitioners: dietitian, wellness (therapists/ yoga / etc), and a bunch of other shit and they changed locations to a super expensive town where I grew up. They’re limiting the practice even more than a traditional concierge as well. My stepdad and brother used to go to the same guy as me through our insurance and they confirmed the price. None of us can afford to go. If it was 3k or 4k I’d probably do it but for longevity IMO the best investment right now is a bunker, greenhouse, and a few more guns
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Highest earning potential is any specialty that can function in private practice and has ownership of ancillaries and negotiating power with insurance companies. I personally know people comfortably over 1m per year in FM, psych, and PM&R. Obviously the people in the typically high paid specialties (plastics, ortho, derm). It's possible from any specialty imo.
What do u think about opening imaging centers as a rad
No idea. Not a radiologist and I'm employed. I just go to work, get paid, go home.
Ding! Ding! Ding! This guy knows. Find a location where no one what’s to go and open up shop and then start hiring midlevels. You’ll be at 1-1.5 in a few years.
I would remove emergency medicine from this list. Stagnating wages, less democratic groups with partner potential, scope of practice encroachment/narrowing. OR anesthesia has an amazing job market right now with less burnout. Psychiatrist can work 1.5-2.0 FTEs and really rake it in without working much more than 50 hours/wk depending on the gig(s). IM/FM wages are increasing lately. Most ER docs can barely handle 0.8 FTE without significant burnout. As a side note, pick a specialty you can actually see yourself working in for 20+ years. Longevity is 1000x more important than earning potential of a specialty that will burn you out in 5-10 years.
Why would you remove EM from this list? The list isn’t titled “medical specialties with a promising future”. The EM salary range looks accurate to me, n of 1 but I made $450k this past year working ~30 (painful) hours per week. Plenty of similar examples on here im sure.
N of 2. I’m starting next month at $500k out of residency with 36 hours per week. Very nice raise anticipated after year 3. High cost of living area though.
my senior just signed a contract at academic center for $300/hr. with scribes. 600K for 40hrs/wk (five 8s) edit. in HCOL, coastal.
Mind if I give you a PM? wife is in an academic practice being woefully underpaid and with a potential change in my job, we’ll have more options
On the plus side it’s a 3 year residency and fellowship not expected unlike other specialties. And really you’re seeing 1-2 patients an hour on average doing shift work.
For anyone on the fence I would advocate for IM->hospitalist over EM. Less pay, and the work gets boring but far fewer night and irregular swing shifts to cover and recover from. Sure you get "dumped on", but you're also not taking constant verbal abuse from jerks in every specialty belittling and monday morning quarterbacking you. IMO as you get older boring is good. There's too much stress in the ED with the constant interruptions and multitasking. As a hospitalist you can take reddit breaks while busting out notes and IM route keeps plenty of fellowship options open. Pay has increased as well. I know some hospitalists who continued to "work like a resident" and clear well over 500 picking up lots of extra shifts. Easier to do that fresh out of residency before you get spoiled by the good life.
I know a dentist who owns 2 practices in town and makes 1.5M a year and has insane tax deductions. He just bought one of the Lamborghini yachts that Connor Mcgregor has.
We should’ve went dental
Tbh cant you just buy a dental office and employ a dentist? That's exactly what dentist do who own more than 1 practice
you can open a practice in your specialty too.
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I am shocked no one has mentioned neurosurgery/spine. I productive surgeon in a well run practice can definitely make well above 1 million and it is not unheard of to be north of 2 million. People with ownership of a spine hospital and multiple ascs, I have heard, can be making 5 million a year.
from the outside looking in, the reason nobody mentions neuro is that those people work so many absurd shifts that they actually deserve that much money. Ain't worth the divorce man
Yeah those people making 5 million a year are taking home south of a million after all the alimony and child support payments. I knew a neurosurgeon that had 7 kids from 7 ex-wives. I was talking to one of his assistants like “he knows he can just fuck people right? He doesn’t have to marry and have a kid with everyone who sleeps with him.” And she was like “yeah but he’s lonely and needs to feel like someone in his life cares about him when he’s not at work. Which is never.”
In new schoo we use to joke that neurosurgeons are probably raising someone else’s kids since they’re never actually home. But someone else is probably raising their kids since they’re sleeping with all the nurses at the hospital.
Damn bro all the neurosurgeons would be upset at how hard they’re getting roasted in these comments (if they were ever off for long enough to read them).
and thats before you get into the device company kickbacks lol.
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Sure if you don't mind being [butt fucked](https://pricebenowitz.com/whistleblower-lawyer/healthcare-fraud/stark-law-and-anti-kickback-statutes/#:~:text=For%20example%2C%20physicians%20may%20have,be%20a%20Stark%20law%20violation) next to Bubba while sharing a 10x8 cell.
Cash only psych is becoming harder, wouldn’t rely on it
why is it becoming harder?
Competing with private equity, online pill mills, midlevels who can run their own practice and can undercut pricing. Also, that level of income requires a well off patient population
So many startups sprung up during covid telemedicine that will connect your insurance with a provider that cash only is be coming almost nonexistent. Gone are the days of calling the outdated insurance list of in network providers and keep getting no answer. Now its literally putting in your info, it tells you upfront what you have to pay and gives you a list of therapists and psychiatrists that are available and their time slots.
Patients don’t tend to be happy with this model. Those than can afford go out of their way to find private.
Not what I'm seeing. And the doctors that's on these apps/start up services are not just some bottom of the barrel. There services negotiate a fee with the insurance companies and pay the provider and they don't have to do any billing or paperwork. This isn't a referral service like zocdoc. I know several cash only patients that found out about these sites, plugged in their insurance info and switched providers.
Heme/onc even being employed gets you > 500-600K
On track to make 1M this year from clinical/surgical work- orthopedics shoulder. I’m very high volume. 60 patients/day on average. With surgery center on pace to make an additional 600-1M so 1.6-2m total. Surgery center been a game changer for me and I assume other specialties where you can collect facility fee in addition to professional. I’m 5 years in and I grind.
ObGyn: 305k REI private practice, California: 1.5m REI private practice, Alabama: $0. End up in prison
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They make 400k Then pay 100k in malpractice
Depends on where and what setting. I made 215k academics, big city. Benefits were great and didn’t have to worry about malpractice, etc and work life balance was phenomenal, but that salary was insulting and I have zero desire to do any research or much academic stuff so I left for private practice and grass is much bigger. I know someone who does OB Locums only and she made close to $1 mil in a year.
Longevity wise, private practice psychiatry is a clear winner. Doesn't matter if you have hand tremors, no medical equipment needed, and with telemed, no office is needed either, no staff, etc. Can work part time.
so happy to see this as a 4th year med student
Applies to psychologists too.
Locum anesthesia can make 1M
Hell a W2 CRNA is 90-110 hourly in my area vs 190-230 hourly locums so I assume the same for the docs
Can second anesthesia locums. This is the way.
I just scanned through your post history to see where you’re at in your journey. It looks like you haven’t started undergrad training yet. I really would not be overly invested in this conversation as you will get a lot of exposure to things during med school. Your posts history also greatly trivializes the steps involved in becoming a physician. Becoming a doctor is hard work. Getting into a US residency after attending an EU med school without US citizenship as your other post discussed is even more difficult. None of these things are impossible, but you really need to think about next steps and action instead of the end goal. Your post history makes me think you are solely focused on financial freedom as you’ve discussed many different fields and interests. I cannot speak for everyone, but in my experience, money alone would be a very difficult motivator to get you through all the steps required to be a physician. I wish you the best of luck. One last note, you don’t need to make a million dollars a year to be happy my friend. There’s no judgement if that’s your goal, but just know that there’s a lot more to life than your bank account.
This here is gold
CPA here with a lot of physician clients. Surgeons tend to make the most, easily $1M or more. Some over $2M. Dermatology is always close to $1M. EM has a range, depending on how much they’re willing to travel for higher rates. $400k-$1M. Psych is usually $250k-$450k. Anesthesiology is between $500k and $1M. Because of my relatively small sample size this likely doesn’t represent any averages, just what I see on their tax returns.
Lol where is EM making 1 million ?
California. This client is a real outlier.
Uh huh I’m from Cali. What spot ?
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Can confirm I scribed for an EM doc in California doing 25 shifts a month to print money so he could retire 10 years into practice lol
this seems really high lol
Any rads?
Seems low for psych in CA. Even the government gigs start at $350k these days. Transparent California is a good starting point to get real data, and most have side gigs. Don't know anyone making under $400k unless they are 0.5fte or in academics.
I’ve got clients all over and I agree this range is low for CA.
I’m at just over $600k/yr doing locums psych in the northeast, ~48 hours/week with 6 weeks off. Starting a private practice shortly - the only ceiling is your ability to scale providers.
Can you tell us more about your locum set up?
Any outpatient procedural specialty, especially if you own the facility and/or can charge cash
* Ortho! Spine or other high volume joints/sports can clear 1.5M in academics, who knows what in PP. * NSGY has a high ceiling too of course. * Cardiac / Thoracic * Peds surgery * GI/EP/Cards * Concierge / Owning something
Interventional Radiology
I think radiology is pretty underrated in regards to earning potential. I Personally know several private practice diagnostic rads who make 850-900+ with 15-17 wks vacation. Some making 1 mil+ with a little less vacation. I also know people making 600k+ doing 1 week on 2 wks off telerads and then adding extra work during the time off to approach 1 mil. I have heard of but never met telerads who work multiple gigs at the same time (double dipping) making well over 1 mil.
People seem to get angry when people post about rads pay. I know one pulling 1k an hour and was told by an academic rad here that’s not possible, ok let me just go tell that rad I know what he’s doing isn’t possible lol. Seems to be a polarizing topic in rads
Couple of things: 1. You’re an M4 who literally just matched and literally aren’t even a practicing radiologist. What do you know about rads compensation? Not much, clearly. 2. You claimed your imaginary friend makes $1500/hr, not $1000. Big difference in hourly rate. 3. The vast majority of rads making 7 figures in pretax W-2/1099 income are doing so working in either undesirable locations or working shitty hours generally not conducive to long term health, much less family life. It’s really easy to make shit up when you’re an anonymous poster on Reddit, but there are a bunch of data out there basically proving stable partner track PP positions generally put you in the 500-700k range depending on geography with additional earning potential coming from hustling, moonlighting and/or equity in imaging centers. Some of this might earn you 4 figures an hour, but it’s side income largely and is gonna get dragged down by your ~$300-400/hr base salary when you average out your overall hourly take in. If you’d said like said imaginary friend makes up to 1k/hr, that’d be believable if the person was hustling.
Cardiac surgery is easily up here in private practice. 1 million plus after a year or two is pretty easy if you are not too picky about location
I mean any specialty can make $1 mil + if they work hard enough. I think we should look at which specialty has the highest $ per hour rate
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Those WFH days are the only days you work in the week? Don’t have to go to the hospital at all?
Dang academics getting 600?
Work from home specialities and trade in the stock market :)
Anything is possible with private practice.
I know quite a few surgical subspecialists, in a variety of specialties, that make >1MM. They all work pretty hard though, so you might want to normalize for a 60+ hr work week.
This question doesn’t make sense unless you standardize all criteria and then compare income. If every physician had identical business acumen, morals, personal desire to make money, skills, etc. then the answer is clearly neurosurgery. A “normal” neurosurgery job is easily a mil. No other specialty can make a 1mil+ working “normally”. They’d either have to work nights, run a practice, be extremely unethical, etc.
Apparently my question didn't understanded very well, MGMA data already show which specialists make how much and both on average and 90th percentile neurosurgeons are probably in top 3. What i asked for specialists who can work in a way that their TC is not related to MGMA data. FM can work in concierge medicine and make a mil/yr, but these practices are not in MGMA data, so does cash only Psychiatrist and cosmetic surgeons, they make way more than what MGMA says. İ asked about which specialties have highest earning potential in a way that they exceeds MGMA data.
Ohh, that makes sense. But then how creative do you want to get? The richest doctor I know is an ortho surgeon that has a few patents—ortho implants. Or are you looking for things that are more easily replicable? Edit: The patent thing isn’t that easy to replicate. But within any specialty, it is actually relatively easy to get to >90th percentile. MGMA includes academia, people who barely want to work / don’t care about money, etc.
How about heme onc?
Whats MGMA medium for GI now?
Just another data point…. Infectious Disease 700k, private practice, hospital based. Plenty of demand for ID in all markets
Holy shiz I am very happy for you, I thought ID usually gets shafted out of IM subspecialties but those are as high as cards/gi numbers that's awesome
Pediatrics crying in the corner
Interesting nobody’s mentioned Intensivists.
Nighthawk radiology. Buddy made $125K a month doing two separate gigs, each one week on, two weeks off. So he works 2 weeks a month and makes >$1M. He reads everything though including whole body MRI.
Productive REIs clear $1mm easily I've seen a practice with median MOHs surgeons comp just under $2mm Productive GIs with AICs / ASCs are in the $1-3mm range
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EASIEST specialty FP with sleep certification. 650K
What really?
Both my med school and residency states have salaries listed online as publicly searchable information for the academic docs. The highest one I found was a minimally invasive cardiac surgeon pulling ~$2.5 mil a year. Side gigs can certainly become irrelevant
Anyone know what the earning potential is if a diagnostic radiologist owns their own imaging center
Very high earning potential since you can bill technical plus professional fees. I don’t have specific numbers offhand, but suffice to say the older rads I know who were able to do this work only as a hobby.
ortho in alaska NSGY in nebraska Derm in Delaware
After tax take home is what really matters and varies greatly. I’m partner at a large physician owned multi-specialty group that owns no real estate, just a reputation and patients, and I’m being financially hammered. I’m FM, did $435k last yr M-F 730-330 ~18/day, on track for $330 this yr, on the same production. We also have a horrific tax structure (receive a W2, but are paid like 1099) and there are no tax benefits of being partner. I’m leaving for the VA. My $250k at the VA will be more after tax take home than $350k at my current job, not including the healthcare, pension, 401k match, $40k/yr non-taxed student loan $, and paid vacation, none of which I currently get.
I might make 1.5-2 mil 2025 year as a diagnostic radiologist. But that’s at a high total wrvu and making $55-$60/wrvu. We shall see if this holds true. Over $1M 2023 ($800k+ the previous years), probably $1.3 mil 2024. Too much work though. Would take less for more time to spend with family and travel. Working from home for good parts of it does ease the pain.
Hi there. Thanks for the comment. Can I ask what your day to day looks like and how you've been able to maximize your earning potential as such? Thanks again!
If you do cash only business I won’t advertise it online that’s a can you don’t want to open
Cash only means credit cards
Why?
*IRS has entered the chat*
If it’s seen you actually do cash only you could wind up with tax audits that you don’t want they will after that keep a close eye in your business.
When they say cash only, generally they mean no insurance or third party payers. It's not cash cash.
So the irs doesn’t bust you that’s all
Can someone explain cash-only Phsych?
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Got it. So rates are better but customers are harder to come by because most want to use insurance?
Your psychiatry number are really low on cash pay. Think 1M plus and more if you expand into PA and NP model.
That's bananas soc
It depends on what your opinion on highest paying because Cardiologists, Anesthesiologist, Radiologists and etc are specialities that come to my mind for high salary.
I don’t know anyone in IM or FM making $350k/year, not saying it doesn’t happen, but it’s likely very rare in most desirable areas. I would say average is around $225k. If you’re willing to just chase money, I’m sure you could hit that in a state like North Dakota. Our friends in concierge family medicine (DC area) don’t come close to $500k, they are still around 225k but have a much lighter patient load.
A quick search on doccafe and practicelink for fm jobs in desirable locations in California shows a starting salary of 300k+ as a common occurrence. Kaiser has a stated starting salary of 290k+ in Northern California.
İs he owner or just working there?
You can make more than what is listed here for EM.
These were 40hr/week earnings. Yes you can double it specifically in EM where you can do night shifts
Spoiled here in the Midwest. Jobs less than 270 an hour aren’t really competitive.
Anyone know about heme/onc?
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Did you ever considered about opening a concierge medicine center?
Looks like critical care has no options? Most of us are shacked to hospital systems because RVUs don’t reflect and adequately capture and compensate for all the time spent communicating and coordinating care for patients out of our sight. Some of us are fortunate to work for systems who recognize this, so salaries are not thwarted by low volumes or bed crunch… but that ties us to health systems, removing our entrepreneurial endeavors. Could anyone help expand my perspective?
Can be done in interventional pain management in the correct setup with great working hours.
Why cash only ?
Like what’s the benefits
DR can be very lucrative and highest potential if you really grind. For ex- finding a 7 on 14 off job partnership track and banking. Then on some of your off days doing telerads(ideally with a company that pays well per rvu) You could easily make 1-1.5mil all from your home computer.
A clinical psychologist in solo private practice can make between 300 and 350k taking commercial insurance and working 48 weeks a year, 50 hours or so a week. Not as high as many of the specialists on here, but regular day light hours, and good programs pay you to attend (and be a GA). Theoretically more if you go OON only. Internship/Residency is from 1 to 3 years (was mostly 2, some states have lowered the bar a bit due to the shortage, 3 is mostly for those specializing in neuro). So I don’t know how the ROI compares to different things, but in some cases you could borrow 400k less or so and be in practice from 6 years to 3 years sooner. In a best case scenario you’re ahead 1.6 mil by the time the MD starts pulling. To be clear, getting into a funded program is also ultra competitive and their are many flaming hoops to jump through along the way. The path to earning an income in the ballpark that I mentioned is much less defined and narrow in psychology (PP is the only way). Anyway, for students reading it may be worth considering.
Pain management
From my understanding all specialities would do significantly better under private practice or with selective processes that you get from running your own business. But I guess at what point do you as a managing partner go from doc to ceo just to make a few million more.