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re: MD or MBA
Posted on 4/23/14 at 11:34 am to The Last Coco
Posted on 4/23/14 at 11:34 am to The Last Coco
Aren't the insurance companies and hospitals the major threat to doctor's incomes? Insurance companies for years have been wanting to lower their costs. I saw a Blue Cross ad that showed 85% of their payout goes directly to the doctors. Doctors are fighting the wrong war.
1
Posted on 4/23/14 at 11:39 am to RedRifle
quote:
Aren't the insurance companies and hospitals the major threat to doctor's incomes? Insurance companies for years have been wanting to lower their costs. I saw a Blue Cross ad that showed 85% of their payout goes directly to the doctors. Doctors are fighting the wrong war.
The way I understand it is that there's not really a threat to doctors, as the costs are pretty much holistically passed on to the patient.
Posted on 4/23/14 at 11:42 am to Louie T
quote:
Dental school
Yep. Dentistry, Orthodontics, or a Dental Surgeon are the way to go.
About 15-20 years ago, back when the drug reps could actually do fun things with docs like deep sea charters, we were on one of those trips. My Dad's a doc, and there were a couple other docs from our hometown and their sons. And a couple of reps. The 3 docs were off on one side fishing and talking, and I overheard one of them say, look at every kids mouth on this boat. Full of braces. And all of my kids friends, mouth full of braces. We chose the wrong profession. The work should be fairly easy, heck the techs do most of the actual physical work. The hours are typical 8-5 office hours. There probably isn't as much focus on medicinal things like going into a General Practicioner, and definitely not in a specialty. And you make bank.
Posted on 4/23/14 at 12:50 pm to The Last Coco
quote:
They are pushing more and more for PA's and NP's to perform the duties of family pratice docs so family practitioners will be in lower demand and as a whole make less.
The push for PAs and NPs won't supersede the need for primary care docs. It's plugging the hole for underserved areas, mostly. PCP salaries are on the rise since the ACA. Whether they continue to rise or bubble up then down is yet to be seen, but this is a fantastic time to go into primary care.
quote:
The extremely specialized fields will continue to make really good money because a lot of times those doctors' services are not deemed medically necessary so their salary can't be dictated by insurance.
Depends on what you refer to as the specialized fields. The need for dialysis, heart caths/CABG, asthma treatment are all done by specialists and all medically necessary. Their salaries have mostly decreased over the last decade or so.
Posted on 4/23/14 at 12:55 pm to Hopeful Doc
He was likely referring to specialties such as dermatology and plastics.
People complain when they have to pay a $5 deductible for blood pressure medication that will help save their life, but will fervently pay out of pocket for unnecessary cosmetic procedures.
People complain when they have to pay a $5 deductible for blood pressure medication that will help save their life, but will fervently pay out of pocket for unnecessary cosmetic procedures.
Posted on 4/23/14 at 12:59 pm to Cs
quote:
He was likely referring to specialties such as dermatology and plastics.
Even these have plenty of necessary procedures. But the Botox injections, lipo, and B-->D probably bring in more than suspicious mole removal and major grafting.
Posted on 4/23/14 at 1:08 pm to RedRifle
quote:
A cousin is going to be a freshman in college and is asking me for advice on career paths. He torn between eventually getting an MBA and going into finance or an MD and becoming a doctor. My advice was finance. Only 2(sometimes 1) year of extra school, less debt if you need it, and salaries mid career are approximately the same if not higher in finance. Never become a Dr. for the $ or you'll be sorely disappointed. Thoughts?
He will most likely not make it in the medical field so tell him to go business or engineering and see what happens.
When I came to LSU there were probably atleast 1000+ people in my freshman class thinking they were gonna be MD's. After four years, thats been filtered down to maybe 50-100
Posted on 4/23/14 at 1:13 pm to TU Rob
quote:
Yep. Dentistry, Orthodontics, or a Dental Surgeon are the way to go.
About 15-20 years ago, back when the drug reps could actually do fun things with docs like deep sea charters, we were on one of those trips. My Dad's a doc, and there were a couple other docs from our hometown and their sons. And a couple of reps. The 3 docs were off on one side fishing and talking, and I overheard one of them say, look at every kids mouth on this boat. Full of braces. And all of my kids friends, mouth full of braces. We chose the wrong profession. The work should be fairly easy, heck the techs do most of the actual physical work. The hours are typical 8-5 office hours. There probably isn't as much focus on medicinal things like going into a General Practicioner, and definitely not in a specialty. And you make bank.
Orthodontics is very hard to get into. If you went to Dental School with the hope of only wanting to do it for orthodontics it wouldnt be a good idea.
Posted on 4/23/14 at 1:34 pm to Dr. Shultz
Taking business and science classes both is the way to go, at least for first two years.
If he goes MD, the finance & accounting classes will go a long way towards his understanding of healthcare business & admin and its interaction on the medical side.
Same if he decides finance- if he's involved in healthcare finance/accounting, the basic/intermediate science knowledge would help him better understand the clinical side, which is beneficial as an administrator.
Many physicians get an MBA when they want to move into a more administrative role. As a business person, MBA is all about giving yourself more opportunities, which it has for me.
Best advice you can give him is to spend time with professionals of both, and see which one he really enjoys waking up to perform for the next 40 years of his life.
If he goes MD, the finance & accounting classes will go a long way towards his understanding of healthcare business & admin and its interaction on the medical side.
Same if he decides finance- if he's involved in healthcare finance/accounting, the basic/intermediate science knowledge would help him better understand the clinical side, which is beneficial as an administrator.
Many physicians get an MBA when they want to move into a more administrative role. As a business person, MBA is all about giving yourself more opportunities, which it has for me.
Best advice you can give him is to spend time with professionals of both, and see which one he really enjoys waking up to perform for the next 40 years of his life.
This post was edited on 4/23/14 at 1:36 pm
Posted on 4/23/14 at 1:38 pm to LSU 318 LSU
quote:
quote:
MD or Mba
NBA
frick school
quote:
I did not go to business school. You know who else didn't go to business school? LeBron James, Tracy McGrady, Kobe Bryant. They went right from high school to the NBA. - Michael Scott
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