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Discuss Latest WCI Blog Post: How to Make More Money As a Family Medicine Physician – WCI Reader Tips

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  • Discuss Latest WCI Blog Post: How to Make More Money As a Family Medicine Physician – WCI Reader Tips

    Here's how top physician earners in typically lower-income specialties are killing it and commanding over 2X+ the average.

    The post How to Make More Money As a Family Medicine Physician – WCI Reader Tips appeared first on The White Coat Investor - Investing & Personal Finance for Doctors.



    Click here to view the article!
    Helping those who wear the white coat get a fair shake on Wall Street since 2011

  • #2
    Do more procedures.
    code well
    Do more procedures
    Collect copays
    Do more procedures
    Minimize no-shows
    Do more procedures

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    • #3
      I don't think the contributors emphasized procedures that much. I think the main takeaway was to stay busy (yet efficient) and lean in the practice that you own.

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      • #4
        Dont under estimate picking the right location and type of practice. I was in solo practice for years and now a group practice, for the last 20+ years I have always done significantly better than the MGMA averages. In order to make more money , you need to been more productive than average, which translates into seeing more patients and having a low overhead. This also includes having a good payor mix. Over the years , performance bonuses doe quality have become a significant revenue source.

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        • #5
          An unmentioned aspect of becoming wealthy earlier as any type of physician is the marked advantages of living in a medically under-served area. Doing so usually means higher fees/salary offers and being busier more rapidly. In addition, most of these locales also have a lower cost of living-so your income goes further and saving is easier. Very powerful combination.

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          • #6
            I don't think there's any secret to physicians who make more than others. It's very similar to most other jobs. If you own your own job then you typically do better than those that don't.

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            • #7
              Originally posted by Nysoz View Post
              I don't think the contributors emphasized procedures that much. I think the main takeaway was to stay busy (yet efficient) and lean in the practice that you own.
              True, but the utilization of procedures into practice is in itself a significant productivity boost in rvus. There's a reason why a derm seeing q5min and procedure can churn out massive dollars in today's fee service environment. And vice versa clinical cardiologist earn an internist salary if not hitting the cath lab.

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