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deltamed

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A few years back dermboard had a resident's thread on what 3rd years interviewing were seeing in the job market. A common consensus was 200-250k + 40% collections over 500k in private practice. That was 2005. Wondering what the 3rd years are getting for offers now.

Obviously varies by locale. Obviously varies by practice, hours etc. Please no drivel about money shouldnt be considered etc.
 
unless you are independently wealthy, you should always think about money. no one is going to see to your own financial well being except you.

there is dramatic regional variation. in the midwest, i'm seeing offers of 300k starting in major cities, and up to 500K in small towns in the boondocks.
 
The articles quoted are from Physician Compensation Report and are now quite outdated, especially as far as Mohs goes.

Offers vary greatly between locales and practices, but a general derm willing to see 40 patients per day 4.5 days per week should be able to command a starting salary of $275k to a max of $400k, plus production incentives (and 40% over x is pretty standard). One word of caution -- be very wary of the high guarantee practice opps -- they often come with time commitment strings attached in order to keep you there for a specified period of time. Dermpath can still be a real moneymaker assuming that you are able to find a practice opp that allows you to perform high volumes from day one; these are rare.
 
What do you mean by guarantee practice opps?

Also, *why* in the world would you ever join a practice? I would so much more favor starting your own, even though it meant taking out a loan to get the office and equipment running. Later, you hire others to join you and YOU become the partner boss.
 
DermMatch said:
What do you mean by guarantee practice opps?

Also, *why* in the world would you ever join a practice? I would so much more favor starting your own, even though it meant taking out a loan to get the office and equipment running. Later, you hire others to join you and YOU become the partner boss.
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What about the incredible hassle it would be to start (and maintain) one's own practice vs. being able to leave every day and leave work at work? When your livelihood is tied up in a business, I'm betting it'd be a hell of a lot more stressful and time consuming (the two things most derms wanted to avoid).
 
Tell that to some of the prominent private practices in the country--they run great businesses, and that's the fun of it--you are running your own practice, hiring your own people, and making money by arbitraging off other people's labor. To each his/her own--I like the small business aspect of a private practice.
 
DermMatch said:
What do you mean by guarantee practice opps?

Also, *why* in the world would you ever join a practice? I would so much more favor starting your own, even though it meant taking out a loan to get the office and equipment running. Later, you hire others to join you and YOU become the partner boss.
Click to expand...

"Guarantee" is another word for "loan"; i.e. income guarantees. They are not salararies, per se... they are loans which must be paid back in some way (either through collections, time, etc).

Starting your own is an OK way to go... I did it... but it is rather naive to believe that you "will hire others to join you" and "YOU become the partner boss" and make tons of cash off the work of others, for it rarely works out that way, and those practices become well known rather rapidly. If you do not make a fair, competitive offer, and the need in the community exists, you are not likely to find a quality individual to be your pawn. As far as the merits of joining a practice... if you desire or require instant income or practice a subspecialty that is reliant upon referrals... it has its merits.
 
Point taken. Did not intend to imply that I would be screwing over my comrades because I know I wouldn't get anyone to join me. A three month wait in the big cities to see a derm guarantees that you can't do that.

However, I don't like the idea of joining a practice where the rules are preset by others, and where I'd yet again be the junior on the team. Am willing to strike out on my own, even if I'm solo. Although it would be nice to share the loan burden for buying your 15 blades.
 
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