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……..and now compare with the nonclinical administrators of those hospitals.
Just about the same range, with a lot of MDs on that list too.
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Just about the same range, with a lot of MDs on that list too. -
Neurosurg can make seven figures easy.
I have seen some pain docs bring in pretty solid seven figures.
But as others said above, a lot of that list looks like big hospital admin.
I know 2 docs that I know for sure make >$1M
Both are surgeons. One is a rainmaker for an entire hospital (kind of weird unique situation where I think his/her value is not just defined by RVU generation). One in small but cool city the other in very undesirable location.
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If you are in private practice, to make more income it's all about the ancillary revenue streams. Own the surgery center, own part of the hospital. That's where the $$ is and can easily go over 7 figures per partner. Then, also develop some IP and sell it to a medical company. Some ortho surgeons who invented the premier used product around the world get $20-30/mil in royalties per year.Comment
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So ancillary income > professional fee reimbursement in private practice?
I can understand that in PP. All these docs listed are hospital employed, and salaries were presumably found on 990 forms, so would think it’s mostly professional fees. Although like some said, maybe there is some income coming from joint IP deals.Comment
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So ancillary income > professional fee reimbursement in private practice?
I can understand that in PP. All these docs listed are hospital employed, and salaries were presumably found on 990 forms, so would think it’s mostly professional fees. Although like some said, maybe there is some income coming from joint IP deals.
Ancillary income CAN be greater then the professional fee. I know a few practices around the country where ancillary > collections, but that will vary depending on how hard each dr works.Comment
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So ancillary income > professional fee reimbursement in private practice?
I can understand that in PP. All these docs listed are hospital employed, and salaries were presumably found on 990 forms, so would think it’s mostly professional fees. Although like some said, maybe there is some income coming from joint IP deals.
those are definitely not professional fees. if they are, whistle blow them.
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I can understand that in PP. All these docs listed are hospital employed, and salaries were presumably found on 990 forms, so would think it’s mostly professional fees.
I am not quite sure I understand what you are asking.
The professional fee is what is paid to the physician just to see the patient or operate on. That might be $300 for OV or $2000 to operate. But that will never cover more than half the sugeon's income. When the hospital bills $50K for the operating room but gives the surgeon a "cut" of the fee. Not directly because it would violate kickback laws but it is built into the compensation structure. Also additional money to run the department, run the fellowship program etc.
Why should the hospital do this? Because if it does not do it, the competing hospital will hire him for that compensation. Or he can open a hospital / surgery center with other surgeons and they can keep the technical fees to themselves.Comment
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The average American likely assumes that all doctors are paid like this. Wow though, it's hard to imagine that kind of money. I would work for one year and resign, haha.
Nice reminder that there are a lot of non-clinical people getting super rich from the medical industry in this country. Not many docs truly break into that world though, I guess these are the few that do.Comment
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I'm jealous. But my laziness is keeping me from trying to close the gap.Comment
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David Samadi probably looks at Jeff Bezos and says "how the $%*¥ do you make that much money?!?!
Learning to be happy with what you've got, regardless of what that is, is the key to feeling wealthy.Comment
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David Samadi probably looks at Jeff Bezos and says “how the $%*¥ do you make that much money?!?!
Learning to be happy with what you’ve got, regardless of what that is, is the key to feeling wealthy.
Thank you, Anne! That's the "inner peace" advice I needed to hearComment
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So ancillary income > professional fee reimbursement in private practice?
I can understand that in PP. All these docs listed are hospital employed, and salaries were presumably found on 990 forms, so would think it’s mostly professional fees. Although like some said, maybe there is some income coming from joint IP deals.
those are definitely not professional fees. if they are, whistle blow them.
Agree that there is a 0% that those docs on the list are earning those incomes based on professional fees and RVUs. I would not be surprised if there are several on the list that are earning under 20% of those compensation packages from clinical work.Comment
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A hospital employed surgeon depending on the specialty can bring in $10-20mil in downstream revenue per year. So hospitals paying these doctors $1-4mil is nothing to them.
A single surgery involves labs, consults for clearance, advanced imaging, therapy, OR time, clinic visits, home nursing visits, braces/equip...and the hospital owns it all.Comment
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Would not want to be some of the names on that list
https://nypost.com/2018/12/23/top-surgeon-employed-barely-trained-nurse-to-assist-in-major-procedures/Comment
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I’m not well versed in all the first names, but is there a single female on this list????
and if there wasn't that would be a problem to you?Comment
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