As one who practiced cardiovascular medicine in the eastern US for 25 yrs. in both a 1000 bed medical center and in private practice, my income was quite different. Though it varied somewhat from year to year, When the practice was mature (which happened very quickly), an average year was approx. $1.5 million and my maximum was about $2 million. Since I performed a number of procedures that were fully covered by insurance, I was able to treat approx. 20% of my pts. free of charge, something that pleased me. My policy was not to bill for deductibles unless my contract required it. I know a number of other cardiologists, of course, and my figures were not atypical. The incomes of some of the surgical specialists at the top of your list were also very much higher than indicated.

Appreciate your in depth knowledge! Fascinating info as well

Marc, we’ve talked before. Great dissection of what life is as a fellow and young attending in cards. Could you make a video on how cardiologists can expand/maximize their sources of active/passive income? If possible include ambulatory surgical centers, and other types of privately own practices. Thank you!

I mean the economics behind it are pretty simple. You have more bargaining power somewhere rural where the supply of doctors is smaller.

Very interesting. Keep up with the videos

Thank you very much for these videos. Very helpful. Also, can you perfect your sound it's very hard to hear you well on earbuds.

Amazing content! ❤

its simple supply and demand, not all doctors want to live in rural areas so there's a shortage and the only way hospitals can entice doctors to move out there is with the higher salaries. Everyone wants to live in a big city so there's a lot of supply driving down salaries

@MarcKatzMD

Жыл бұрын

Yeah I missed econ 101 apparently 😆

Thank you so much for sharing! Could you do a video of ''women in cardiology''? Like, how do they achieve a life-style balance? I am a medical student super interested in cardiology but all the cardiologist I have happened to know are man. I am truly passionate about cardiology but not sure if I would be willing to spent so many years in training considering I would like to have a family in the future

There’s less doctors in rural or smaller areas so they will pay more as an incentive to recruit more talent. Think of scarcity and how it effects economics.

As an IMG, I need to understand a point I didn’t get from the video. If you’re in your first year of fellowship you get paid from the hospital as PGY-4 approximately 70k$ a year, so those 544k$ a year depending on the doximty report who is gonna pay me that amount? I think there’s something I’m missing TIA

@MarcKatzMD

7 ай бұрын

544k a year is when you’re an attending. After you finish fellowship. Not during fellowship

Is it a fair assessment to say that most of the higher earning specialties also have a worse quality of life?

Love ur channel

@MarcKatzMD

Жыл бұрын

Thank you! 😊

Where are the psyhciatry salaries?

How much extra can we make by serving in rural area

This guy must have started med school when he was 17 because he looks 24 years old and is already a cardiologist

Those top surgical specialties are also have the highest malpractice and risk of being sued as well.

@wholeNwon

9 ай бұрын

Which is why they buy malpractice insurance.

@kritika91

6 ай бұрын

@@wholeNwon Malpractice insurance only covers for a certain amount. It does help but doesn't make one immune from it.

@wholeNwon

6 ай бұрын

@@kritika91 That's correct but malpractice awards only very rarely exceed insurance limits.

What about advanced cardiac imaging (Cardiac MRI/CT)? Thought about going that way.

@MarcKatzMD

8 ай бұрын

Couldn’t find that information. Generally though advanced imaging cardiologists will split their time between clinical medicine (like a non-invasive cardiologist) and reading studies. Multiple career pathways available though depending on what you want and where you practice. I also thought about it but was sick of being in training and ready to work

@Jameseebb1967

8 ай бұрын

Why can't it be an easy decision. Just once.

Please do a video in the future on why do preventions medicine get paid the lowest why some get the highest

@MarcKatzMD

Жыл бұрын

Mostly because the US healthcare system rewards doctors who 'do' things. Very complex topic but just shows you how the American political and healthcare system prioritizes things. Unfortunately people think that primary/preventative care is an easy specialty when it is quite challenging and demanding

@blackshadow-xr1me

Жыл бұрын

@@MarcKatzMD interesting how the us health care system definitely needs to be reform and be more like the European union do you think that would work

@MarcKatzMD

Жыл бұрын

I will be the first to admit I don't fully understand all of the economic and political aspects of healthcare in the US. Unfortunately I don't foresee universal healthcare happening in the US anytime soon due to the political hurdles it would require to overcome

🐈 really want to be part of the video 😂😂

Respectfully sir, I hope you wake up each day and admire yourself in the mirror for being that good looking. It should be a crime to be both handsome and smart!

These salaries are grossly misrepresented as it is severely dependent on location. I am a physician in Southern California and know pcps not even hitting 200k.

@MarcKatzMD

Жыл бұрын

Right. Did you watch the entire video? I go into those exact details

I'm a 5th yr medical student here in Nigeria. Please which other occupations can pay as much as Medicine with an easier pathway sir?😃🤔🤔

@MarcKatzMD

Ай бұрын

😂 good question. If you find the answer let me know

@okoroifeanyichukwu8762

Ай бұрын

@@MarcKatzMD But that's what you said in the video chief 😂🤔. Doctors ALWAYS say the same thing, I really want to know sir😂

"Doctors paid less to live in a highly desirable location." It' basic supply vs demand concepts. If you have 5 cardiologists applying to one job opening in Miami, the hospital/facility has no reason to pay them market rate. H/F: "We'll pay you $300k." Applicant: "I want $350k." H/f: "Thanks for applying. We have 4 other applicants who will take $300k or even less. we'll save that $50k for something else." Now, in a less desirable location or one where there is a large need for a specialty, the roles are completely reversed, because the facility needs them so badly they'll pay higher to get someone there. As someone in the medical field I've exploited this to my benefit.

Less in bigger cities = supply and demand

How funny. In Argentina, we earn around 400 USD per month haha fucking sad.

US residents and fellows get paid the most in the world. Them : we are underpaid!

@MarcKatzMD

8 ай бұрын

They are underpaid

That cat is so irritating 😬😬😬😬,can u plz put it away in videos

@MarcKatzMD

8 ай бұрын

It’s a cat. It doesn’t listen 😂

@ruthballinger8644

5 ай бұрын

😂​@@MarcKatzMD

How much Taylor swift and Saleena Gomez make by singing and dancing😊

Great video. Please keep the cat away, its not funny and distracting.

Basically the US pays doctors more to fix than to prevent :( , skillwise it makes sense