Salary Question

[MarquetteGuy]

Can anyone give me a ballpark figure of what a DPM could expect to make coming out of a 3 year residency in the midwest (specifically WI, IL, or IA)? Im just trying to get some kind of an idea what to expect in any of these areas when coming out of this type of residency? Thanks.

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[jonwill]

I was talking with the director of the Broadlawns program in Des Moines yesterday and he said his last five or six residents have signed six figure deals. I know the third year there just signed on with a multispecialty group in the quad-cities for mid 100's.

 

[doclm]

I was talking with the director of the Broadlawns program in Des Moines yesterday and he said his last five or six residents have signed six figure deals. I know the third year there just signed on with a multispecialty group in the quad-cities for mid 100's.

Usually do PODS sign onto deals with other PODS or do they go into an Orthopaedic group?

Also, when they sign onto groups do they have a percentage of the shares in the company or work under a set pay for services? How often does a POD go into a group practice to own shares and benefit from tax breaks?

I know that mid 100's were mentioned for PODS starting right out of residency, however who are the PODS that make up the mid 200K in the 2001 index of salary? Are they in a solo practice or in group practice with more experience?

Finally, after a POD gets done with a 3yr residency, (and pass the surgical boards) can they do anything within their own surgical ambulatory center from bunionectomys to doing total joint implants?

I know its a lot of questions, but thank you for your responses.

 

[krabmas]

Usually do PODS sign onto deals with other PODS or do they go into an Orthopaedic group?

Also, when they sign onto groups do they have a percentage of the shares in the company or work under a set pay for services? How often does a POD go into a group practice to own shares and benefit from tax breaks?


I know its a lot of questions, but thank you for your responses.

THe current trend is that pods are joining the orthopedic groups as the foot and ankle specialist.

Whether or not they make shares of the company or get a salary.... depends in the deal that is made. Typically a practice will not make you a partner right away (but there are always exceptions).

Just for you info - in NY a pod and an MD can not be partners in a practice as in each half owners b/c in NY to own a professional business the owners have to be of the same profession and legally an MD and a DPM are not the same. THere may be other states out there like this and ways around the law but you should check your state so you are aware.

I'm sure other posters will add more info.

 

[doclm]

THe current trend is that pods are joining the orthopedic groups as the foot and ankle specialist.

Whether or not they make shares of the company or get a salary.... depends in the deal that is made. Typically a practice will not make you a partner right away (but there are always exceptions).

Just for you info - in NY a pod and an MD can not be partners in a practice as in each half owners b/c in NY to own a professional business the owners have to be of the same profession and legally an MD and a DPM are not the same. THere may be other states out there like this and ways around the law but you should check your state so you are aware.

I'm sure other posters will add more info.

In my rural howetown in MN a DO Orthopaedic Physician started his own Sports Medicine Surgery clinic and hired MD's, other DO's, and a DPM to be a specialist in foot and ankle surgery. So, does this mean that MD's or DO's can work in a private practice with a DPM in MN?

Where can I find the breakdown of the different scope of practice for DPM's within each state? Not too long ago I read something presented to legislation to have a standardized scope of practice for DPM's from state to state. This appeared to be in favor for DPM's, however what are the chances that this will/when pass congress and be implemented? In addition, I noticed that starting this year (2006) that there will be a 7% decrease in medicare pay back to physician office visits than last year. Will this likely effect POD's more than other MD/DO counterparts or will this impact all office visiting physicians equally?

Finally, do most patients that come to an ambulatory surgery center to see a DPM pay out of pocket for a lot of services or does medicare cover most of these procedures?

I know, LOTS OF QUESTIONS, but thank you for your responses.

 

[IlizaRob]

In my rural howetown in MN a DO Orthopaedic Physician started his own Sports Medicine Surgery clinic and hired MD's, other DO's, and a DPM to be a specialist in foot and ankle surgery. So, does this mean that MD's or DO's can work in a private practice with a DPM in MN?

Where can I find the breakdown of the different scope of practice for DPM's within each state? Not too long ago I read something presented to legislation to have a standardized scope of practice for DPM's from state to state. This appeared to be in favor for DPM's, however what are the chances that this will/when pass congress and be implemented? In addition, I noticed that starting this year (2006) that there will be a 7% decrease in medicare pay back to physician office visits than last year. Will this likely effect POD's more than other MD/DO counterparts or will this impact all office visiting physicians equally?

Finally, do most patients that come to an ambulatory surgery center to see a DPM pay out of pocket for a lot of services or does medicare cover most of these procedures?

I know, LOTS OF QUESTIONS, but thank you for your responses.

The proposed decrease was actually 4.4%. however, congress put a freeze on it for this year so it is not in effect yet. I know that for those physicians that have been reimbursed 4.4% less this year are getting that money back. There was a recent survey done within the American College of Family Physicians which stated that over 30% of family practice docs would drop a large percentage of their medicare patients if the decrease was implemented. I found that interesting.

 

[krabmas]

In my rural howetown in MN a DO Orthopaedic Physician started his own Sports Medicine Surgery clinic and hired MD's, other DO's, and a DPM to be a specialist in foot and ankle surgery. So, does this mean that MD's or DO's can work in a private practice with a DPM in MN?


:

DPMs and DOs and MDs and any one else can work together. It is a question of being partners in running a business. To be partners there are lots of legal papers that need to be filled out. In NY a DPM and an MD can not sign those papers to be partners and share a business. Again there are ways around the law like contracts between the docs and such.

 

[dpmgrad]

Where can I find the breakdown of the different scope of practice for DPM's within each state? Not too long ago I read something presented to legislation to have a standardized scope of practice for DPM's from state to state. This appeared to be in favor for DPM's, however what are the chances that this will/when pass congress and be implemented? In addition, I noticed that starting this year (2006) that there will be a 7% decrease in medicare pay back to physician office visits than last year. Will this likely effect POD's more than other MD/DO counterparts or will this impact all office visiting physicians equally?

Finally, do most patients that come to an ambulatory surgery center to see a DPM pay out of pocket for a lot of services or does medicare cover most of these procedures?

In regards to scope of practice, the best thing to do is to contact the specific state's Podiatry Board for the most current scope of practice for the podiatrists in that state. As per the APMA website, in 2002, 37 states do allow the podiatrist to operate on both the ankle and foot. How far a podiatrist can go up on the leg will vary from state to state. The following states do NOT allow the podiatrist to operate on the ankle (hence, they may operate on the foot only): Wyoming, South Dakota, Kansas, Texas, Louisiana, Mississippi, Alabama, Kentucky, Indiana, South Carolina, Washington DC, Puerto Rico, Massachusetts, Connecticut, and New York. State laws are constantly changing. For example in 2005, recent legislative changes now allow Podiatrists to operate on the Foot and Ankle in Texas and Massachusetts. Based on previous postings, South Carolina is now reviewing a new proposal that would allow Podiatrists to operate on the ankle.

Most insurances and Medicare should cover most of the elective surgical procedures done by a Podiatrist at the Ambulatory Surgery Center. Of course, one would need to obtain all of the necessary precertifications for surgery, if the insurance carrier requires it.

 

[doclm]

In regards to scope of practice, the best thing to do is to contact the specific state's Podiatry Board for the most current scope of practice for the podiatrists in that state. As per the APMA website, in 2002, 37 states do allow the podiatrist to operate on both the ankle and foot. How far a podiatrist can go up on the leg will vary from state to state. The following states do NOT allow the podiatrist to operate on the ankle (hence, they may operate on the foot only): Wyoming, South Dakota, Kansas, Texas, Louisiana, Mississippi, Alabama, Kentucky, Indiana, South Carolina, Washington DC, Puerto Rico, Massachusetts, Connecticut, and New York. State laws are constantly changing. For example in 2005, recent legislative changes now allow Podiatrists to operate on the Foot and Ankle in Texas and Massachusetts. Based on previous postings, South Carolina is now reviewing a new proposal that would allow Podiatrists to operate on the ankle.

Most insurances and Medicare should cover most of the elective surgical procedures done by a Podiatrist at the Ambulatory Surgery Center. Of course, one would need to obtain all of the necessary precertifications for surgery, if the insurance carrier requires it.

thank you

 

[doclm]

DPMs and DOs and MDs and any one else can work together. It is a question of being partners in running a business. To be partners there are lots of legal papers that need to be filled out. In NY a DPM and an MD can not sign those papers to be partners and share a business. Again there are ways around the law like contracts between the docs and such.

thanks

 

[whiskers]

Remember this...

Don't expect anything from others, just be willing to work hard and sacrifice for yourself.

 

[dpmgrad]

I just want to put my two cents in about the starting salaries for Podiatric Surgery residency grads. I noticed that there are many postings where they are stating that they had heard that starting salaries for a residency grad will be low to mid 100's. While this is true for certain parts of US, it is not true for other areas. If you know of areas where you would like to practice, it is best to survey the new podiatrists in the area for a better estimate of what the starting salary would be. For example, I know of a classmate in Kentucky who started in the 100's. However, near the major cities in Northeast, the chances of finding an offer over 100's is highly unlikely (unless it is an orthopedic group). Factors that would govern your starting salary include insurance reimbursements, office overhead costs, medical malpractice costs, etc... In Philadelphia metro area, the insurance reimbursement rates are horrible (Medicare is one of the highest paying insurance in Philly while it is the lowest paying insurance in other parts of the country) and medical malpractice cost is very high (Philly has one of the highest medical malpractice payout in the country and Philly has no cap on the amount being awarded), you would expect a lower starting salary as compared to Nebraska. One would simply say that if Philly area's starting salary is not so good, why don't you move to an area where the salary is better. Well, that makes sense theoretically but in reality, it is not so easy to do. After I did my externship in Kentucky (which was one of my best externship experiences), I discovered that I would be pretty miserable living in Kentucky (not meant to offend anyone from Kentucky) since I grew up in NYC. Since my family is in the northeast US and am most comfortable living near the major cities of the northeast US, I would prefer to stay in the northeast US and deal with the lower starting salary. My point is that do not get dismay if you end up in an area where the starting salary is not in 100's. Over the long term, you will just do fine and live comfortably. Of course, if you work hard, you will be able to earn over 100's in those areas. If you happen to end up in an area that the starting salary is over 100's, that is great too.