Medical Jobs
A DOCTOR’S PRIVATE PRACTICE:
What appeals to you most when choosing a medical job? The benefit of helping people who are hurt? Being faced with a new situation and procedure every single day? The status and money factor? Whatever your reasons may be, as a medical doctor you are in a field that is forever-changing, incredibly fast-paced and very financially rewarding. There are so many organizations and associations in the health care industry with benefits that far outweigh the drawbacks. A doctor’s salary can be immense, but there are some factors that they must consider before starting their own private practice.
Most doctors are in training until around the age of 30, and the majorities don’t even begin their private practices until later on. Once they start their private practice, the expenses a doctor must consider before he even takes home a paycheck are staff salaries, benefits, rent, malpractice insurance, etc… If a substantial amount of money is not set aside to cover malpractice suits, (which will most likely occur) then a doctor could wind up not taking home a dime for a month of hard-work of 50-90hrs per week plus working nights and weekends. So to sum up, if a doctor is not making at least $17,000 a month just to cover overhead costs, then the reality is that he may not take home any money for a month of hard-work and grueling hours.
Primary care doctors can make anywhere from $111,000 to $205,000. Internal Care Medicine doctors can make from $119,000 to $473,000 depending on their specialty. Starting your own private practice may be difficult at first, but the more and more clientele you start building, the more and more money you are capable of earning. The advantages of starting a private practice outweigh working in a large hospital. It puts the physician in control of everything; they are not reliant upon a nursing staff to determine how many patients they can see, what tests they can administer, or how many prescriptions they should be writing. They can make their own hours and interact with a more regular roster of patients, as well as hire a staff that they are comfortable working with. Having a private practice allows trained physicians to be in charge of every decision for the welfare of others.
Tags: doctor, Medical Jobs, private practice