Private Practice VS Being Employed


For a physician, is one BETTER than the other? 

It really is a loaded question and has a lot of variables such your specialty, location, desired compensation, level of experience, family status -- just to name a few. 

Both of these opportunities have pros and cons and every individual doctors views them differently. However, one must understand significant differences between the two and realize that such differences typically do NOT change over time.

For instance, being an employed physician of a hospital, foundation, or a multi-specialty group means guaranteed salary, benefits, set work hours, and a structured environment. You never have to worry about hiring or firing staff, buying supplies, or office equipment. Your employer will do it all! In return though, you WILL have to answer to your employer and work set hours and designated holidays/weekends. You will NOT have much say in who your staff is and how most of the financial decisions are made. You will care for your patients in a controlled environment where you don't have worry about many things other than just simply seeing patients. Except that you are not in control.

On the other hand, if you have your own practice, ALL decisions begin and end with you. YOU must decide who works for you and who does not, which supplies to order, and went to open and close shop. YOU have to deal with insurance companies, contracts, and vendors. You will care for your patients in whatever environment you create because in this setting you are the captain of this ship! At times it will feel overwhelming but it could also be quite gratifying.

So to answer the question, NO!

These are two very different styles of practicing medicine and only you can decide what is right what fits you best.