Career and Life Planning Guidebook for Medical Residents

Market Driven HealthCare I remember what my first medical director said to me: “If you do what’s right for the patient, you can never be wrong.” Fight for your time to be at the bedside with patients; the patients will be grateful for your time, and you will increase your longevity and resiliency. – Anonymous F I E L D N O T E S R E A D : Evaluating and Selecting the Right Practice Type Just as there are a variety of types of vaccines given at well-child checks, there are a number of different styles of medical groups in which you can provide patient care. When deciding which of the following kinds of groups seem to appeal to you, remember to reference back to chapter 7 and define what lifestyle and values are driving your choices in career paths. Let’s take a look at some of the variety that is the spice of practice life: Multi-Specialty Group (MSG): A physician-owned group with more than three physicians with a min- imum of two different specialties. Pros: Trial period before commitment; less risk up front; minimal administrative and management duties; focus on clinical vs. business Cons: Less autonomy; multiple partners may have different philosophies and priorities; higher stress to drive revenue and perform; chance of not being voted in as a partner; dealing with staffing, administrative and business issues; less stable, more volatility with income Single-Specialty Group (SSG): Two or more phy- sicianswithin the same discipline. Generally, physicians are employed for one to three years, with a track to partnership. Pros: Trial period before commitment; less risk up front; minimal administrative and management duties; focus on clinical vs. business Cons: Chance of not being voted in as a partner; dealingwith staffing, administrative and business issues; less stable, more volatility with income 103 WWW.PHYSICIANCAREERPLANNING.COM