Comments on: Docblogger: Doctors and their money http://www.kevinmd.com/blog/2008/06/docblogger-doctors-and-their-money.html Tue, 14 Feb 2012 20:59:00 +0000 hourly 1 By: Anonymoushttp://www.kevinmd.com/blog/2008/06/docblogger-doctors-and-their-money.html#comment-91364 Anonymous Thu, 14 May 2009 04:21:00 +0000 http://clients.emmense.com/kevinmd/2008/06/docblogger-doctors-and-their-money.html#comment-91364 Humm....As I was looking for another document, I ran across this. I find this so amusing. I teach...I do so 11 - 13 hours per day, with a 20 minute lunch and no prep time. I go from 8 a.m. to 9 p.m. and let's see plan, plan plan until I collapse at 2 a.m. in the morning. Oh wait...tonight...I don't get to sleep I get to right that 90 page monthly report and translate it...I do it every month off the clock. And then let's see I got to call the parents and CPS, and all the fun things off the clock. Nice! Let's see....I think I make less than $3.00 per hour when I consider all the things I do off the clock. Humm….As I was looking for another document, I ran across this. I find this so amusing. I teach…I do so 11 – 13 hours per day, with a 20 minute lunch and no prep time. I go from 8 a.m. to 9 p.m. and let’s see plan, plan plan until I collapse at 2 a.m. in the morning. Oh wait…tonight…I don’t get to sleep I get to right that 90 page monthly report and translate it…I do it every month off the clock. And then let’s see I got to call the parents and CPS, and all the fun things off the clock. Nice! Let’s see….I think I make less than $3.00 per hour when I consider all the things I do off the clock.

]]> By: Mikehttp://www.kevinmd.com/blog/2008/06/docblogger-doctors-and-their-money.html#comment-85947 Mike Mon, 02 Jun 2008 18:28:00 +0000 http://clients.emmense.com/kevinmd/2008/06/docblogger-doctors-and-their-money.html#comment-85947 marianus/dave...once again, you miss what I'm saying. They DONT WORK AS HARD AS DOCTORS!!! They get plenty of compensation. As Michael RAck said, I get NO BENEFITS! I'm not saying teachers aren't important. Hell, I need my GARBAGEMAN more than football players. But so what? Are you saying teachers work harder than garbage men? Or Truck drivers? Teachers make pretty much what they ought to make. They are held in high enough esteem in this country or any other. They arent hated and called "whiny" like doctors (on this site anyway) marianus/dave…once again, you miss what I’m saying. They DONT WORK AS HARD AS DOCTORS!!! They get plenty of compensation. As Michael RAck said, I get NO BENEFITS! I’m not saying teachers aren’t important. Hell, I need my GARBAGEMAN more than football players. But so what? Are you saying teachers work harder than garbage men? Or Truck drivers? Teachers make pretty much what they ought to make. They are held in high enough esteem in this country or any other. They arent hated and called “whiny” like doctors (on this site anyway)

]]> By: Michael Rack, MDhttp://www.kevinmd.com/blog/2008/06/docblogger-doctors-and-their-money.html#comment-85945 Michael Rack, MD Mon, 02 Jun 2008 08:41:00 +0000 http://clients.emmense.com/kevinmd/2008/06/docblogger-doctors-and-their-money.html#comment-85945 anon 9:50 pm:<br/>the highest paid professions are investment banking, portfolio managment, and some of the other financial professions, if you include the bonuses that make up a large part of their compensation:<br/>http://wiki.answers.com/Q/What_are_the_highest_paying_jobs.<br/>I am not complaining, or whining. I'm just pointing out that a doc's salary is often most of his total compensation; we don't get stock options and bonuses. By the way, as a (mostly) self-employed physician I have to pay for my own health insurance and my own retirement out of my "salary", there's no company match for me. anon 9:50 pm:
the highest paid professions are investment banking, portfolio managment, and some of the other financial professions, if you include the bonuses that make up a large part of their compensation:
http://wiki.answers.com/Q/What_are_the_highest_paying_jobs.
I am not complaining, or whining. I’m just pointing out that a doc’s salary is often most of his total compensation; we don’t get stock options and bonuses. By the way, as a (mostly) self-employed physician I have to pay for my own health insurance and my own retirement out of my “salary”, there’s no company match for me.

]]> By: Anonymoushttp://www.kevinmd.com/blog/2008/06/docblogger-doctors-and-their-money.html#comment-85944 Anonymous Mon, 02 Jun 2008 05:58:00 +0000 http://clients.emmense.com/kevinmd/2008/06/docblogger-doctors-and-their-money.html#comment-85944 i know that this is not related to the post but i was wondering what your take was on this article<br/>http://www.commonwealthfund.org/publications/publications_show.htm?doc_id=640980 i know that this is not related to the post but i was wondering what your take was on this article
http://www.commonwealthfund.org/publications/publications_show.htm?doc_id=640980

]]> By: Marianas Eyehttp://www.kevinmd.com/blog/2008/06/docblogger-doctors-and-their-money.html#comment-85943 Marianas Eye Mon, 02 Jun 2008 03:07:00 +0000 http://clients.emmense.com/kevinmd/2008/06/docblogger-doctors-and-their-money.html#comment-85943 Mike,<br/><br/>I suppose we all carry our own experience with us. I'm thankful for my high school teachers, who were a dedicated bunch of folks. In addition to being a physician, I co-founded a school and work with teachers as a Board member. Every profession (including ours) has its slackers. Nevertheless, the role that teachers play in advancing civilization is one of the most important ones. I'd like to see society hold them in high esteem, which does not mean that any esteem or any money has to be taken away from you. In Asia, teachers are considered as prestigious and as respected as doctors (if not more so). <br/><br/>Certainly, when you look at the real value of professions to a society, it can't be argued that football players and rap stars and investment bankers are more valuable than teachers. Well, you could argue it, but I would have to respectfully disagree.<br/><br/>David Mike,

I suppose we all carry our own experience with us. I’m thankful for my high school teachers, who were a dedicated bunch of folks. In addition to being a physician, I co-founded a school and work with teachers as a Board member. Every profession (including ours) has its slackers. Nevertheless, the role that teachers play in advancing civilization is one of the most important ones. I’d like to see society hold them in high esteem, which does not mean that any esteem or any money has to be taken away from you. In Asia, teachers are considered as prestigious and as respected as doctors (if not more so).

Certainly, when you look at the real value of professions to a society, it can’t be argued that football players and rap stars and investment bankers are more valuable than teachers. Well, you could argue it, but I would have to respectfully disagree.

David

]]> By: Anonymoushttp://www.kevinmd.com/blog/2008/06/docblogger-doctors-and-their-money.html#comment-85942 Anonymous Mon, 02 Jun 2008 02:50:00 +0000 http://clients.emmense.com/kevinmd/2008/06/docblogger-doctors-and-their-money.html#comment-85942 Along with being the wealthiest profession in the world, I believe the Dept. of Labor also concluded that physicians are the most self important and yet whiniest profession as well.<br/><br/>It's quite a trifecta. Along with being the wealthiest profession in the world, I believe the Dept. of Labor also concluded that physicians are the most self important and yet whiniest profession as well.

It’s quite a trifecta.

]]> By: Mikehttp://www.kevinmd.com/blog/2008/06/docblogger-doctors-and-their-money.html#comment-85941 Mike Mon, 02 Jun 2008 01:37:00 +0000 http://clients.emmense.com/kevinmd/2008/06/docblogger-doctors-and-their-money.html#comment-85941 marianas... I hate how people lump doctors in with teachers. Teachers get three freakin months off a year, as well as every holiday and several weeks with christmas and spring breaks. They also get a sweet pension and benefits. You know what I get when I'm on vacation? NOTHING. And how many calls do they get in the middle of the night or on weekends? Gimme a break. They are more whiny than any occupation out there. I don't know where this mentality about the "poor teahcer" even came from. Let em spend 110 hours a week on call and then they can bitch. My high school teachers were some of the laziest and dopiest people on the planet. Did you forget about your own expericences with teachers? All of them were altruistic saints living in poverty? Gimme a break. marianas… I hate how people lump doctors in with teachers. Teachers get three freakin months off a year, as well as every holiday and several weeks with christmas and spring breaks. They also get a sweet pension and benefits. You know what I get when I’m on vacation? NOTHING. And how many calls do they get in the middle of the night or on weekends? Gimme a break. They are more whiny than any occupation out there. I don’t know where this mentality about the “poor teahcer” even came from. Let em spend 110 hours a week on call and then they can bitch. My high school teachers were some of the laziest and dopiest people on the planet. Did you forget about your own expericences with teachers? All of them were altruistic saints living in poverty? Gimme a break.

]]> By: Anonymoushttp://www.kevinmd.com/blog/2008/06/docblogger-doctors-and-their-money.html#comment-85936 Anonymous Sun, 01 Jun 2008 22:41:00 +0000 http://clients.emmense.com/kevinmd/2008/06/docblogger-doctors-and-their-money.html#comment-85936 The rich doctor "perception" is actually the reality. US physicians are the highest paid profession in the world by far.<br/><br/>Now, what you do with your money is another story, but your average income is over $150,000/yr. The next highest is almost $50,000 behind you. The rich doctor “perception” is actually the reality. US physicians are the highest paid profession in the world by far.

Now, what you do with your money is another story, but your average income is over $150,000/yr. The next highest is almost $50,000 behind you.

]]> By: Anonymoushttp://www.kevinmd.com/blog/2008/06/docblogger-doctors-and-their-money.html#comment-85935 Anonymous Sun, 01 Jun 2008 16:28:00 +0000 http://clients.emmense.com/kevinmd/2008/06/docblogger-doctors-and-their-money.html#comment-85935 Vera is absolutely correct. <br/><br/>"As a lawyer (who represent doctors) I can tell you that you hit on the #1 reason I believe lawyers (and probably doctors) aren't as rich as people think - peer pressure."<br/><br/>The issue is largely how much of this is self-imposed. I live very simply compared to my peers but suspect I am far better of in terms of wealth and security. I am the anti-Jones, the person who makes you feel comfortable as a friend because you don't feel the need to keep up. <br/><br/>Much of the rat race is all about image rather than substance. And you senior partners in any practice would like to keep their wage-slaves spending, dependent, and needing to work, rather than able to negotiate from a position of wealth and strength. After all, they made the same mistakes and need someone to finance their bad financial habits. Vera is absolutely correct.

“As a lawyer (who represent doctors) I can tell you that you hit on the #1 reason I believe lawyers (and probably doctors) aren’t as rich as people think – peer pressure.”

The issue is largely how much of this is self-imposed. I live very simply compared to my peers but suspect I am far better of in terms of wealth and security. I am the anti-Jones, the person who makes you feel comfortable as a friend because you don’t feel the need to keep up.

Much of the rat race is all about image rather than substance. And you senior partners in any practice would like to keep their wage-slaves spending, dependent, and needing to work, rather than able to negotiate from a position of wealth and strength. After all, they made the same mistakes and need someone to finance their bad financial habits.

]]> By: Anonymoushttp://www.kevinmd.com/blog/2008/06/docblogger-doctors-and-their-money.html#comment-85934 Anonymous Sun, 01 Jun 2008 14:27:00 +0000 http://clients.emmense.com/kevinmd/2008/06/docblogger-doctors-and-their-money.html#comment-85934 I think "rich Doctor" perceptions are a carry-over from the 70s and 80s. At that time the ratio of physician incomes to the general public was much greater. I have seen a pay-stub from an internist that worked at a multi-specialty clinic here in the south (he was also a part owner). He was making 100k/month!! This was the late 70s. So, in relative sense, he was extremely wealthy at that time. Because there has been a loss of income over the last decades compared to inflation, the ratio of MD income to the average income has shrunk. Other fields absolutely trump medical incomes now (Wall Street, big law firms, etc.). Many physicians note these incomes in other fields and feel the need to keep up with those "jones" as well as compete within their own ranks. So, you see the fancy cars and houses, etc, when, on 250k income, they are just upper/middle class now. Additionally, most docs I know spend almost everything they make each month. So, they have no wealth, only income and toys (many of these toys on credit). It is a very delusional way to live and I think contributes greatly to physician dissatisfaction. Those who strive for money or stuff are never happy because you can never get it all or have enough....(Remember when my dad the doctor made ....xyz). Those were the good old days. But, those days are far gone. If physicians would realize that if they want to live large and make serious bank, they should have gone to MBA school from the start. I think “rich Doctor” perceptions are a carry-over from the 70s and 80s. At that time the ratio of physician incomes to the general public was much greater. I have seen a pay-stub from an internist that worked at a multi-specialty clinic here in the south (he was also a part owner). He was making 100k/month!! This was the late 70s. So, in relative sense, he was extremely wealthy at that time. Because there has been a loss of income over the last decades compared to inflation, the ratio of MD income to the average income has shrunk. Other fields absolutely trump medical incomes now (Wall Street, big law firms, etc.). Many physicians note these incomes in other fields and feel the need to keep up with those “jones” as well as compete within their own ranks. So, you see the fancy cars and houses, etc, when, on 250k income, they are just upper/middle class now. Additionally, most docs I know spend almost everything they make each month. So, they have no wealth, only income and toys (many of these toys on credit). It is a very delusional way to live and I think contributes greatly to physician dissatisfaction. Those who strive for money or stuff are never happy because you can never get it all or have enough….(Remember when my dad the doctor made ….xyz). Those were the good old days. But, those days are far gone. If physicians would realize that if they want to live large and make serious bank, they should have gone to MBA school from the start.

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