I am burning 50k per month and treating 30 patients per day. Doing around 15 surgeries per week.
I am paying to go to work.
If Iām not taking a check by June, Iām going to close down and do something else.
I am killing myself with work and spending my savings to do so.
That is just horrible. Is that how it works in USA for doctors? I honestly have no idea š¶š¾š«ā¤ļø
wait what?
my math is not mathing here
This is wild. Sad. And terrible. Reimbursements for us keep getting slashed year after year. We train for years and years to be able to stick sharp instruments into peoples eyes under a microscope, assume all the risk and liability and stress, and get paid a few bucks after overhead. Almost not worth it.
Will do my best for 7:30, share this, may need help
Every field and profession is subject to malinvestments.
Is this in regard to private practices? It seems if possible theyāll squeeze everyone into conglomerates. Dental and vet trending the same way.
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 donāt 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.
Donāt 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 couldnāt pay them the same (offered no commission). All of them we have kept up with hate their jobs and one even called it āsoul suckingā. If you donāt 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.
Thatās 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 Iād recommend it. Being on the other end I do absolutely love what I do, as Iām 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 donāt 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 Iām done with my commitment. Luckily itās 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 š«
What I worry about is the big picture - not necessarily what others have commented on malinvestment, etcā¦but bright young people no longer choosing medicine altogether in a system already short doctors, especially patients with limited access to specialists and care.
It's the same for a lot physicians in Canada too. Overhead is killing them, dues are ridiculous, but at least they don't have to worry as much about liability. They still pay for insurance, but not nearly as much.
Thatās unreal
