2008

[FIREshrink]

My guess is most people are working harder and seeing more patients.

In psychiatry that is probably not the explanation. We have among the lowest, possibly the lowest rates of Medicare acceptance; the 2021 E&M changes favored cognitive specialties like psychiatry; the ability to bill two codes (E&M and therapy) for one visit. So there are a lot of reasons but bottom line I am working the same number of days and the same number of hours as 20 years ago and being paid double for the same work.

What have other salaries done during that time?

[Dusn]

I think older doctors delayed retirement and in some specialties it made it harder for new grads to find jobs

[CordMcNally]

In psychiatry that is probably not the explanation. We have among the lowest, possibly the lowest rates of Medicare acceptance; the 2021 E&M changes favored cognitive specialties like psychiatry; the ability to bill two codes (E&M and therapy) for one visit. So there are a lot of reasons but bottom line I am working the same number of days and the same number of hours as 20 years ago and being paid double for the same work.

What have other salaries done during that time?

You mention same number of days and same number of hours but is it the same number of patients, too?

Who is paying your salary? I'm guessing it isn't all Medicare patients. If you're employed then your employer may be subsidizing you some from other revenue streams or they could have much better private contracts or cash payors. If you have your own business then you should be able to answer the question for your personal situation.

[Turf Doc]

Well my comp has increased 10000% since 2003 but mostly because I am no longer a part time lifeguard

Seriously though FM seems to have done well these past couple of decades.

Do your older colleagues ever talk about the "good old days"? That might be some interesting anecdotal evidence. I know older radiologists always talk about them at least... lol

[FIREshrink]

You mention same number of days and same number of hours but is it the same number of patients, too?

Who is paying your salary? I'm guessing it isn't all Medicare patients. If you're employed then your employer may be subsidizing you some from other revenue streams or they could have much better private contracts or cash payors. If you have your own business then you should be able to answer the question for your personal situation.

Any subsidy is the same as it was twenty years ago, I work for the same employer, have the same practice, see the same number of patients. I'm sure I'm more efficient but nowhere near 100% more. Anyway MGMA and similar compensation surveys support my observation about the field in general.