Is this in regard to private practices? It seems if possible they’ll squeeze everyone into conglomerates. Dental and vet trending the same way.
Discussion
Very much true for dentistry and vets. Private equity money is pouring in. The money is enticing, but we were shocked by the terms you need to agree to in the sale. Profit optimization and optimal health care for patients don’t mix.
Worked in dentistry for a few years after college. Seemed that way. Very difficult to ride the line of providing optimal care without influence of profit incentive.
Don’t want to waste your time but would you consider doing it all over? Studying for the DAT right now..
If you can do it without taking out exorbitant loans, then yes I would. Otherwise no. Every young dentist we interviewed for an associate position with $500k+ in loans ended up working at a chain because we couldn’t pay them the same (offered no commission). All of them we have kept up with hate their jobs and one even called it “soul sucking”. If you don’t have a lot of student loans, you can get a business loan to buy a practice and make a great living without compromising your ethics.
That’s wild. Great insight! I just talked to my buddy (also ophtho) with 475k in loans. The interest alone on those was terrifying. Hard to say if I’d recommend it. Being on the other end I do absolutely love what I do, as I’m sure most docs do. Went into this because I enjoy helping people and vision is a profound gift to be able to give.
Also, I don’t need to be exceedingly rich, but need to keep the lights on and make sure I can support my family. Luckily (depending on how you look at it), I joined the military to pay for med school so have zero debt. Military medicine is a whole different convo, and will be interesting to see how private practice is this spring when I’m done with my commitment. Luckily it’s a nice little practice in a small town and there are no shortage of old retired folks with eye issues!
You are going to do great 🫂
What I worry about is the big picture - not necessarily what others have commented on malinvestment, etc…but bright young people no longer choosing medicine altogether in a system already short doctors, especially patients with limited access to specialists and care.