I'm considering applying for endocrine fellowship, wondering what is the job market like? Also if you could do it over would you go into this field?
Endocrinology Job Market
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the market itself is very good...there aren't a lot of clinical endocrinologist out there and the demand is great...but realize the pay isn't equivelent to the demand...mostly because endo is not procedure based and so doesn't generate a great deal of revenue...this varies of course, the more its you see, the more money you can make in a PP with an eat what you kill method of compensation...
most people who go into endocrinology are not focused on the money...its the topic itself, the lifestyle...endo can be very flexible, full time, part time, inpatient, outpatient, combo...you can find something that fits your needs.
average endo will make 200-250K/yr, give or take...academics generally lower, PP depends on how hard you want to work...you will make more money if you are seeing 30pts a day vs 15 pts day.
and yes, i would do it over again.
most people who go into endocrinology are not focused on the money...its the topic itself, the lifestyle...endo can be very flexible, full time, part time, inpatient, outpatient, combo...you can find something that fits your needs.
average endo will make 200-250K/yr, give or take...academics generally lower, PP depends on how hard you want to work...you will make more money if you are seeing 30pts a day vs 15 pts day.
and yes, i would do it over again.
Hi Rokshana, do you see any potential change in reimbursement to the field? Any new procedures being added to the specialty perhaps that may help with reimbursement? It's so strange that the supply of endocrine is so low yet their pay doesn't reflect this.
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Actually reimbursement went up this year for the first time in ...who knows.
endo isn’t really a procedure oriented specialty...there are thyroid U/S and FNA bx that are pretty standard... some still do dxa reads...there are people doing ethanol and rfa ablation of thyroid nodules... it’s new in the US, and generally not covered by insurance, but there is potential there.
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What changes do you foresee occurring post COVID?
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For endocrine? More telemedicine as a mainstream method of Pt visit... endocrine has been a specialty that has adapted well to the telemed visit.
What is average billing/reimbursement per encounter in the office? Did you hear endocrinologist implementing RPM (remote pt monitoring) ? If yes, how rewarding?
Let us assume seeing 30 pt/ day, how does that translate to income ? Thanks!
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If you can see 30 patients a day and not go bat**** crazy, you’ll probably be making close to $400k/year. But that sort of pace isn’t desired nor sustainable for any of us.
Per MGMA the median endocrinologist makes around $250k. Median on another survey I saw with a larger sample size that probably isn’t so multispecialty group biased was around $240k
More in private practice, particularly in smaller cities. Less in academia, particularly in bigger cities.
To make around the median, you probably need to work 4.5 days/week seeing an average of around 16-18 patients a day. After taking into account no shows, probably around 20-22/day scheduled.
Maybe a bit less - it’s going to depend a fair bit on your insurance mix and how well established your practice is as well (more new patients = less patients per day needed to make the same amount of money. But the patients take more time).
Oh and the job market is great.
