- Joined
- Dec 23, 2011
- Messages
- 66
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I wanted to discuss the best specialties for those of us that have a mind for business (or have run businesses in the past). It's easy to google and see which specialties get paid the most in a hospital setting, but in the private practice world, I wanted to talk about which specialties easily lend themselves to a nice business model.
I can start this discussion by saying Dermatology, for one. The overall lack of dermatologists in this country makes it easy to open a shop and be in very high demand.
I am going into Ophthalmologywhich I believe, although on the decline, is also ripe with business opportunities. 80 percent or so of Ophthalmologists work in private practice, and the specialty works very closely with Optometrists, Opticians, all of which you can hire in your practice to maximize your potential earnings.
Cardiology and GI are okay. The issue with GI is that the money is bound to dry up soon. Most of the private GI doctors make their money from colonoscopies but there is no way the high reimbursements for that will be sustained. I understand this to be the bulk of their income and an area that will get cut in the near future.
Cardiology is a more versatile field, with more variety of procedures and tests. Although cardiology has been taking huge hits in the past year, the versatility allows it to withstand more pressure in terms of cuts, and for cardiologists to shift focus towards procedures and tests for which reimbursements haven't been cut.
I'm not sure about other fields, these four are the ones I have the most experience with. Any thoughts on any of this? Or on Ophthalmology and its outlook?
I can start this discussion by saying Dermatology, for one. The overall lack of dermatologists in this country makes it easy to open a shop and be in very high demand.
I am going into Ophthalmologywhich I believe, although on the decline, is also ripe with business opportunities. 80 percent or so of Ophthalmologists work in private practice, and the specialty works very closely with Optometrists, Opticians, all of which you can hire in your practice to maximize your potential earnings.
Cardiology and GI are okay. The issue with GI is that the money is bound to dry up soon. Most of the private GI doctors make their money from colonoscopies but there is no way the high reimbursements for that will be sustained. I understand this to be the bulk of their income and an area that will get cut in the near future.
Cardiology is a more versatile field, with more variety of procedures and tests. Although cardiology has been taking huge hits in the past year, the versatility allows it to withstand more pressure in terms of cuts, and for cardiologists to shift focus towards procedures and tests for which reimbursements haven't been cut.
I'm not sure about other fields, these four are the ones I have the most experience with. Any thoughts on any of this? Or on Ophthalmology and its outlook?