How Much Do Doctors Make?

  Рет қаралды 118,667

Antonio J. Webb, M.D.

Antonio J. Webb, M.D.

Күн бұрын

Пікірлер: 394
@antoniowebbmd
@antoniowebbmd 4 жыл бұрын
Thanks for watching everyone! Hope this video helps!
@mohamedsaid-id6nj
@mohamedsaid-id6nj 4 жыл бұрын
Antonio J. Webb, M.D. can you make a video of becoming a Pa or switching careers from PA to MD?
@aliabdullah9964
@aliabdullah9964 4 жыл бұрын
This videos help , thanks a lot 🙏 . But would it be okay to get new videos about the cases and how to manage them in orthopedic. I believe this may help too either in exams or in practice
@big_guy_tings
@big_guy_tings 4 жыл бұрын
Antonio J. Webb, M.D. thanks for always creating great content. If I may ask a question to you: How do you foresee a single payer health care policy impacting your career?
@mgiii
@mgiii 4 жыл бұрын
Antonio J. Webb, M.D. would you mind making a video about Mohs Surgery?
@nateg7502
@nateg7502 4 жыл бұрын
Very insightful, thank you
@GS-xt8fu
@GS-xt8fu 4 жыл бұрын
My friend died on the way to the hospital. He was revived and went flat again. They revived him. The cardiologist went to work on him an hour after getting there. Test etc were performed, first. He of course got immediate attention. He is not over weight and was only thirty nine. I can’t medically explain his condition but it was serious. The main artery to his heart was almost completely shut off. He was in there for almost five hours. This was nine years ago. He is healthy and has since that time created two wonderful children. I don’t know what the surgeon made but.....he earned it and we are so.....so grateful. What a wonderful job he did and saved my best friend.
@antoniowebbmd
@antoniowebbmd 4 жыл бұрын
Wow! Thanks for sharing. I’m glad he is better!
@kyledenihan4983
@kyledenihan4983 4 жыл бұрын
As a current third year medical student, I really appreciate this video! I feel like the topic of money doesn’t get talked about enough with students. It’s not the reason most people want to become a doctor, but it’s undoubtedly an important topic to cover. So, thank you for this video and the transparency you displayed with it!
@Moodtoodrude
@Moodtoodrude 3 жыл бұрын
Hi 4th year!!!
@itzibrahimm2616
@itzibrahimm2616 Жыл бұрын
​@@Moodtoodrude hi first year
@imbennelson
@imbennelson 4 жыл бұрын
Oncologists have saved my moms life twice from leukemia. I've said many times these doctors will never be paid enough for what they do.
@JS-up8oe
@JS-up8oe 4 жыл бұрын
God bless
@ale014pr
@ale014pr 4 жыл бұрын
Remember cancer never goes away it just stays in remision
@michaelp3010
@michaelp3010 3 жыл бұрын
@@JS-up8oe yeah well they never fucking helped my family so they can go fuck themselves
@samk2001
@samk2001 3 жыл бұрын
@@michaelp3010 they tried their best dipshit. They are not gods, wtf do you expect them to do?
@jjiang7488
@jjiang7488 3 жыл бұрын
@@michaelp3010 doctors are not gods, they try their best but everyone's condition is different. No need for all the hate ffs.
@itsdocdaniel
@itsdocdaniel 4 жыл бұрын
Audio sounded very odd on my Beats headphones LOL.. Sounded like you were sitting right behind me talking. Longtime sub, and I just got accepted to an MD program after a career change and then multiple rejections. Your videos really inspire me. Thank you doc!
@KR-nq7tu
@KR-nq7tu 4 жыл бұрын
Good luck!
@divinetruths345
@divinetruths345 4 жыл бұрын
Congratulations! Best of luck
@ferreally
@ferreally 4 жыл бұрын
Congrats!!!
@MariaRuiz-yc8jl
@MariaRuiz-yc8jl 4 жыл бұрын
Congrats 👍
@SK-mr6ov
@SK-mr6ov 4 жыл бұрын
Dr Webb why are you sayin 800k without a smile on your face? You can be happy about your future salary, we won’t be mad😂😂
@jonathannoel3534
@jonathannoel3534 4 жыл бұрын
you missed that overhead and tax chart
@SK-mr6ov
@SK-mr6ov 4 жыл бұрын
Jonathan Noel yea taxes are ridiculous, 50% of his income will go to stupid taxes. It’s not even fair man. Hardworking people are being screwed from there money
@benm6716
@benm6716 4 жыл бұрын
@@SK-mr6ov tell me about it my year to date right now is 120k and i paid 50k in taxes so far
@alezandradavila2581
@alezandradavila2581 4 жыл бұрын
Because he has to pay his loans back
@catwesage
@catwesage 4 жыл бұрын
@@alezandradavila2581 800k salary. 100k in loans. Wow that's going to take forever.
@Milkdudsaveusss
@Milkdudsaveusss 4 жыл бұрын
To me it makes more sense for a new doctor to be an employee for a few years and save, then get his own practice.
@lukashayden7027
@lukashayden7027 4 жыл бұрын
To answer your question, in my opinion I don’t think doctors get paid enough for the amount of time and effort they put into their jobs and the education leading up to their jobs (let’s keep in mind that their job is saving lives and making lives better). We have athletes making $100 million + and they score touchdowns and make 3 pointers for a living. Not fair. Doctors and nurses deserve more.
@ianaguilera9658
@ianaguilera9658 4 жыл бұрын
They also make their company a lot more money than doctors do
@alejandrosanchez2085
@alejandrosanchez2085 4 жыл бұрын
Athletes are more valuable and doctors are important. Value and important. two different things
@RSRoadTo
@RSRoadTo 4 жыл бұрын
It’s always comical when people overlook the hard work and dedication athletes put into their career
@johnsmith-kd4ck
@johnsmith-kd4ck 4 жыл бұрын
I know that is the feel good thing to say but I really dont think so that is a lot of money and many people go to school for that long that do not make that much. We get hate in Investment Banking for making money but doctors make almost as much and get told they are underpaid. This is simply because people are only capable of understanding how those people help there lives because its right in front of there face.
@purumolmander9302
@purumolmander9302 3 жыл бұрын
Well athletes get payed based on how much they generate
@as.829
@as.829 4 жыл бұрын
Wow this was such an in-depth video! I definitely think that either primary care physicians should be better paid, or that college/med schools should cost less.
@vmdmckay
@vmdmckay 4 жыл бұрын
I agree. If you want to retain a high quality individual, you will have to pay them more. If their cost to practice goes up (including medical education), they will simply transfer the cost to the patients and insurance. Thus, cost of medical care skyrockets. This is business 101, that many do not think applies to medicine. We need high quality providers, which will cost us money to retain. But, we also need to consider the cost of the education for these providers and understand that has significant effect on the costs associated with healthcare. Love your channel, watch all the time. Following in your path now: combat medic to physician. Applying next year. And yes, I hold an MBA, in the even anyone wants to contest the business side of medicine. Been on both sides of healthcare now (provider and administration).
@ericklopez61222
@ericklopez61222 4 жыл бұрын
I really wished that Medscape would divide up the salaries by specialty, location, and experience, i.e. entry level
@nolanfontaine1799
@nolanfontaine1799 4 жыл бұрын
Love the integrity of this man!
@antoniowebbmd
@antoniowebbmd 4 жыл бұрын
Thanks Nolan!
@gundafamily1159
@gundafamily1159 4 жыл бұрын
Hey Dr. Webb is finally an attending! Congrats!
@adrianvalderrama8225
@adrianvalderrama8225 4 жыл бұрын
These reports should really include pay per hour worked. Some specialties make way more than others, but also work a lot more during residency and post-residency life.
@modelbashir2365
@modelbashir2365 Жыл бұрын
I agree if your working 80hours making 500k its really the same as someone making 250 working 40 hours.
@kehw
@kehw 4 жыл бұрын
Your Doctors deserve every dollar they earn imo.
@JS-up8oe
@JS-up8oe 4 жыл бұрын
Doctors should be the highest paid people in the world .
@jamescrawford2547
@jamescrawford2547 3 жыл бұрын
People never want to talk about money, but it’s always important no matter what you do. It’s a serious financial debt to become a doctor, and it’s certainly not easy to even get there. Imo doctors deserve everything they make and more
@easymedicinebytmd8247
@easymedicinebytmd8247 4 жыл бұрын
Super interesting video! Those numbers seem really high in comparison to what doctors earn here in Europe! Thanks for this summary!
@rosemariekury9186
@rosemariekury9186 4 жыл бұрын
We’ve had the same pc doctor for. a number of years and he’s mentioned he gets so frustrated with the amount of paperwork required for Medicare. I think a lot of that should be eliminated, and that would keep costs down. He’s a very good doctor and we try to thank him. each time we see him, as I’ve heard that sometimes they get very depressed and even suicidal. Love your videos and I’m impressed with all of the “grit” and determination you have.
@thefrontliner9650
@thefrontliner9650 4 жыл бұрын
Very educational, thank you! - we hadn’t read the newest Medscape article!
@doc_nk
@doc_nk 4 жыл бұрын
Compensation is always a great topic I like covering as well. Medscape puts my specialty ophthalmology at 366k . Ophtho has a huge range. Low starting salary but a very high ceiling. Lots of cash based work too. We are sort of secretive about our pay for bureaucratic reasons. Because most of our practice is outpatient the base salary is not necessarily our take home. Contracts are based off production and partnerships. Also depends on subspecialty . Retina surgeons average 6 to 7 hundred thousand. Thus, there are definitely many making in the 7 figures Ie. High volume cataract surgeons and lasik surgeons. But like Dr. Webb mentions there are so many factors that can boost your salary. Private practice will make much more than academics. Partnership will always be more than employed.
@shapeshiftertimetraveller8147
@shapeshiftertimetraveller8147 4 жыл бұрын
Hey doc can you plz elaborate more on opthalmology compensation this doc made it sound way tooo depressing 1million 130 k carrying home doenst sound right and can be discorusging plz explain with more sincerity
@MrThelegendary754
@MrThelegendary754 4 жыл бұрын
Opthalmology is the best specialty in medicine in my opinion and i hope after i finish my medical school to enter residency in opth pray for me🙏🙏.... subbed btw would like to c more videos from you
@shapeshiftertimetraveller8147
@shapeshiftertimetraveller8147 4 жыл бұрын
@@MrThelegendary754 yes you can avoid toxic environamnest such as the hospital you cna be a partner and own your own practice best specialty for men and a peace of mind
@michaelcarter5447
@michaelcarter5447 4 жыл бұрын
Nicely done, very diplomatic with your delivery. Of course, this data is based off surveys, and gets published in a format that can be released publicly. That’s the biggest reason why I have in the the past and will continue to decline responding to such surveys - why would I want the possibility of drawing negative attention?
@princess287love
@princess287love 4 жыл бұрын
Do pediatricians only make 100-150K? I feel like that’s too low...
@doctorbobby4543
@doctorbobby4543 4 жыл бұрын
It IS low. CRNAs makes more. It's pretty sad.
@princess287love
@princess287love 4 жыл бұрын
Doctor Bobby the pediatricians here where I live make at least 150
@doctorbobby4543
@doctorbobby4543 4 жыл бұрын
@@princess287love and that is honestly still low.
@princess287love
@princess287love 4 жыл бұрын
Doctor Bobby I agree
@abciximabzz
@abciximabzz 4 жыл бұрын
The reason for that is: specialties that perform procedures earn for because billing is done per procedure. So surgeons, interventional radiologists, cardiologists make the most money and paediatricians and geriatric medicine specialists make the least. Surgeons can earn tens of thousands of dollars on a one hour procedure whereas a pediatric consultation can easily be a whole hour and it would’ve only earned them a few hundred dollars.
@chaunceylaboo6353
@chaunceylaboo6353 4 жыл бұрын
Your look when you said neurosurgeons says it all Dr. Webb 😂
@funsize198
@funsize198 4 жыл бұрын
if we're including per hour worked, I think Radiology, EM, and Derm probably make the most.
@videomdify
@videomdify 4 жыл бұрын
It’s interesting that public health & preventive medicine was number 1 in specialties that felt fairly compensated. Some surveys have also put them as the least to get burnt out.
@drsomeone9656
@drsomeone9656 4 жыл бұрын
Dear Dr.webb if you find the time please a video about medical oncoloy would be fantastic considering how they are doing very well with medscape reports makes me really eager to know more about it. As always thank you for making these videos 🌹
@mc6148
@mc6148 4 жыл бұрын
In the video it's stated that if the doctor makes 1 million in revenue at their private practice, with 500k overhead, they will have to pay 370k in taxes and will be left with 130k. This is false. The 500k overhead would be considered part of business expenses and not take home revenue. As such, instead of the 1 million being taxed, only the 500k profit would be taxed. The doctor would probably be then left with about half of that (250k) as their post-tax income.
@josphellihsilak4588
@josphellihsilak4588 3 жыл бұрын
I was looking for this before i commented the same. Im shocked Dr.Webb didn't spot that.
@LilJbm1
@LilJbm1 3 жыл бұрын
What about business/corporate taxes? I'd assume you'd get "double-taxed" if you will before the business profit gets dispersed in payroll, then that gets taxed on the physician's W2. Could be wrong, our tax code is retarded and I haven't started a business yet, just been researching.
@nicholassummerlee6843
@nicholassummerlee6843 4 жыл бұрын
I think Doc might need a lesson in taxes and owning a business. You're not taxed on revenue when you own a business. You're taxed on profit. All of you overhead is that you pay is basically a write-off and you'd only be taxed on the 500k profit. You'd be left with roughly 300k after all federal, state, and local taxes are paid, not 130k.
@Izeba
@Izeba 4 жыл бұрын
What ever they earn ....... they certainly charge enough ! Your very well spoken !
@Hungryreels
@Hungryreels 4 жыл бұрын
Thanks for the videos dr
@antoniowebbmd
@antoniowebbmd 4 жыл бұрын
No prob. Thanks for watching!
@theshue8067
@theshue8067 4 жыл бұрын
great video doc!
@antoniowebbmd
@antoniowebbmd 4 жыл бұрын
Thanks!
@oscarmendez1477
@oscarmendez1477 2 жыл бұрын
Thanks fir this insightful video~! I never thought of private vs non-private and what will be the pros and cons of it.
@chronicles6065
@chronicles6065 4 жыл бұрын
Great Video.
@antoniowebbmd
@antoniowebbmd 4 жыл бұрын
Thanks!
@fuze59
@fuze59 4 жыл бұрын
Leave the tables up on the screen instead of flicking back and forth.
@InternistMD
@InternistMD 4 жыл бұрын
Hi Dr. Webb, I think there's an error in your math at 8:33 ! If your revenue is $1M, you would subtract the company expenses of 500k. Your taxable income falls at 500k, so you will be charged accordingly for that tax bracket.
@EssenceyMatthew
@EssenceyMatthew 4 жыл бұрын
Correct - all those overhead costs will be pre-tax deductions.
@johanneshalberstadt3663
@johanneshalberstadt3663 4 жыл бұрын
Wow. Orthopedists make on average around 200,000 here. And top earning doctors in Germany are radiologists at around 300,000 a year. Quite a difference to the U.S.
@ADK117
@ADK117 3 жыл бұрын
doctors in the us tend to work longer hours, and medical school costs are extremely high. Also it takes longer to become a physician here because of the mandatory bachelor's degree which also costs an exorbitant amount. So the higher salaries are justified imo
@fannindao2066
@fannindao2066 4 жыл бұрын
I'm a final year med student and I'm planning to specialise in Opthalmology or Dermatology. But these fields are very competitive and my GPA is just average... Planning to take usmle 1 - 2CK. Please pray for me!
@Shri-ud9jm
@Shri-ud9jm 4 жыл бұрын
All the best!
@cfar25
@cfar25 4 жыл бұрын
Great video!
@antoniowebbmd
@antoniowebbmd 4 жыл бұрын
Thanks!
@zamzam-pw5zf
@zamzam-pw5zf 4 жыл бұрын
Thank you doc
@BTSrm13
@BTSrm13 4 жыл бұрын
That was great insight that I didn’t know before. I’m also curious how the breakdown of pay works for after you graduate med school and are an intern, resident, fellow, etc. Are the figures you were talking about just for after you finish all the training and are fully set up in your job? If so, I would love to know the breakdown of compensation leading up to it including paid time off, benefits, and salary. Love your videos!
@JoeyH547
@JoeyH547 4 жыл бұрын
I would imagine private practice doctors (owners) have the potential to make the most, as well as the potential to make the lease bc it’s just like running any other business
@electput
@electput 4 жыл бұрын
Hello Dr. Webb! I also want to be a orthopaedic surgeon! You are my Idol ( just wanted you too know)!
@antoniowebbmd
@antoniowebbmd 4 жыл бұрын
You can do it! 👍🏾👍🏾👍🏾
@electput
@electput 4 жыл бұрын
@@antoniowebbmd OMG OMG OMG MY IDOL REPLIED OMG OH MY GOD OH MY GOD!!!!!!!!!
@electput
@electput 4 жыл бұрын
@@antoniowebbmd THANK YOU SOOO MUCH!!!
@feverishhx9750
@feverishhx9750 4 жыл бұрын
Just a quick correction, In self employment taxes you only pay taxes on the profit you make, not the overhead. This is how some companies manage to pay little to no taxes, it’s because they say they have more overhead than they actually have.
@nusaman
@nusaman 3 жыл бұрын
Hi. Love your videos. At 8:30 you seem to say that taxes are calculated on gross revenues but shouldn’t the taxes be calculated on profits after your overhead has been deducted. Seems the $130k take home on $1m revenues is not right. Am I missing something ? Thanks again. You are an inspiration to so many.
@panasheduncan297
@panasheduncan297 4 жыл бұрын
Good video. Can your next video be about Bs/Md programmes
@lclark3279
@lclark3279 4 жыл бұрын
Looking into pediatric neurosurgery. Bummed they didn’t participate !
@sabrinasmith5088
@sabrinasmith5088 2 жыл бұрын
The only peds neurosurgeon I know makes like, a million a year lol
@santiagocabiati1
@santiagocabiati1 4 жыл бұрын
700K a year? this is amazing/unbelievable. in my country, Argentina, a Senior Doctor, if he only works in one hospital 40h/week he get 13K a year. truely sad
@lovelife7740
@lovelife7740 4 жыл бұрын
WTF?
@markusmeijer9942
@markusmeijer9942 4 жыл бұрын
Yeah... WTF?
@santiagocabiati
@santiagocabiati 4 жыл бұрын
sadly our money came from 2001 value 1ARS=1USD. now at 2020 its 135ARS=1USD.... Doctors are paid the same than teachers. workers, and any kind of profession...It's really sad to live and work in a place like this... ohh I almost forgot.. if you are a professional you may be earning more than the common standards.so if you gain more than the common they take 35% of your salary, plus 21% of the value of each product is a TAX. and if you're Senior and you gain more money they take you 50%. welcome to Argentina brother ......
@Boki9
@Boki9 Жыл бұрын
whatever you wonderful, selfless, brilliant human beings make, it's not enough. same goes for nurses
@skechfreak
@skechfreak 4 жыл бұрын
How come they never include neurosurgery? Most surveys don’t include them that I’ve seen
@krane15
@krane15 4 жыл бұрын
Good old boys club?
@josephsaldino2538
@josephsaldino2538 4 жыл бұрын
Marius G. It is a very small community. Prob not enough data if you only have like 6 respondents. There are only about 3000-4000 neurosurgeons in the USA serving 311 million people which is kinda crazy to think about
@Sweet_Love_-lu6lb
@Sweet_Love_-lu6lb 4 жыл бұрын
Doctors shouldn’t have to pay taxes. They save lives for God sakes❗️
@Locopueblo
@Locopueblo 4 жыл бұрын
then the military shouldn't either. and the fire department. and law enforcement. teachers save lives. parents save lives religiously. TAXES ARE NOT A PUNISHMENT. THEY'RE NECESSARY FOR OUR WAY OF LIFE.
@Sweet_Love_-lu6lb
@Sweet_Love_-lu6lb 4 жыл бұрын
@@Locopueblo My comment is not up for debate. 😘
@mugiwara9507
@mugiwara9507 4 жыл бұрын
@@Sweet_Love_-lu6lb stfu he put u in ur place
@Sweet_Love_-lu6lb
@Sweet_Love_-lu6lb 4 жыл бұрын
@@mugiwara9507 😂😂😂😂😂😂
@muzzammilhoosain4747
@muzzammilhoosain4747 4 жыл бұрын
Fuck you dumbass
@muhialdainmuhialdain7938
@muhialdainmuhialdain7938 4 жыл бұрын
What I know for sure is that YOU should get paid more.
@TheFishFTW
@TheFishFTW 4 жыл бұрын
Your income taxes are taken after overhead not before. So 370k in taxes and 130 left for you is not really accurate. Just wanted to point that out. Great vid either way :D
@Dakwabz
@Dakwabz 4 жыл бұрын
How are taxes calculated for a Doctor I don't get that part
@themanwelch
@themanwelch 4 жыл бұрын
All the numbers are way lower because they include physicians that work part time or less . I knew 3-4 pediatrician back in Med school that only worked three days a week . Then the academic physicians make a lot less etc.
@urbananimal55
@urbananimal55 4 жыл бұрын
Same in my industry. I'm a hairdresser, the data collected on our earnings is heavily skewed by people who work part time and in high volume shops like supercuts. A hairdresser working full time at a real salon in a middle class area can easily make twice what the surveys say, and much much more in expensive areas.
@chadode9048
@chadode9048 4 жыл бұрын
With the difference between male and female salary - is there any credence to the idea that women tend to gravitate towards specialties that pay less? Or was that figure based on male vs. female in the same specialty?
@hismajestykingchristopher5185
@hismajestykingchristopher5185 4 жыл бұрын
Anyone making 6 figures in this country cannot complain. If you live outside your means, that's a choice at any income level above the national poverty level. You may owe 250k after school, and if you make 200k after residency, you can live comfortably on 100k and pay off the loans with the rest. It's not hard, nor a struggle. Just saying.
@Sam-oc2zw
@Sam-oc2zw 4 жыл бұрын
You are forgetting tax and other costs like medical insurance. You also seem to be forgetting the stupid hours that doctors have to work. So yes they can complain. Until you are in their shoes you don't get to tell them they can't complain
@brandonbornet5421
@brandonbornet5421 2 жыл бұрын
lol, obviously they can complain, 100k is very very low for everyone, not just doctors
@AverageJoe313
@AverageJoe313 4 жыл бұрын
What about interventional radiology is there data for that specialty?
@joshmcgoo
@joshmcgoo 4 жыл бұрын
they make similar to some surgical specialties 300's, usually
@bollemuslol
@bollemuslol 4 жыл бұрын
my mom says im special
@orinzaman7634
@orinzaman7634 4 жыл бұрын
u are.
@browncookies8048
@browncookies8048 3 жыл бұрын
Your mom is right. We are all special in our own ways
@tiggerperez8524
@tiggerperez8524 3 жыл бұрын
You aren’t kid. No one is🤗🤗🤗
@orinzaman7634
@orinzaman7634 3 жыл бұрын
@@tiggerperez8524 everyone is special in their on way, let's not spread negativity :)
@tiggerperez8524
@tiggerperez8524 3 жыл бұрын
@@orinzaman7634 im only telling him the truth 😓
@taylorlangley900
@taylorlangley900 4 жыл бұрын
Well that is something that's not shared. If you are an orthopedic spine surgeon how much are you charging for surgery? I know it's dependent on the case obviously and insurance, but do you learn that during residency the business aspect of owning your own practice?
@joshsalmi7449
@joshsalmi7449 3 жыл бұрын
0:01 Witch doctors get paid the most??! 🧙‍♀️ 🧪
@Nephromancer3
@Nephromancer3 3 жыл бұрын
Shout out to my fellow Nephrologists out there!
@nvgwd3r
@nvgwd3r 4 жыл бұрын
You pay taxes on profit not on revenue as far as I know
@doctorbobby4543
@doctorbobby4543 4 жыл бұрын
If you work as an employed physician, you pay taxes on everything. It all depends on your business structure.
@mattrosich
@mattrosich 4 жыл бұрын
Pay on revenue. That’s what your deductions are for. You subtract your deductions from revenue. Revenue - deductions = profit. That’s the idea behind it anyway. Not saying everyone does that.
@stephenr4185
@stephenr4185 4 жыл бұрын
Your figures are wrong at 8:26. You don't pay taxes off the $1 million. You get to deduct the $500k in overhead from your $1 million in revenue. So you only have $500k in profit, which is what you pay your taxes on. Which depending on the state, you'd probably take home around $300k.
@anthonyoneal5043
@anthonyoneal5043 3 жыл бұрын
Can you teach me please 🥺
@johanneshalberstadt3663
@johanneshalberstadt3663 4 жыл бұрын
Is all of that after taxes and deductions?
@tomr6866
@tomr6866 4 жыл бұрын
It's amazing money but you start earning it possibly later in life and I've seen so many burnt out doctors
@LilJbm1
@LilJbm1 3 жыл бұрын
Yeah very easy to get burnt out when you don't see the fruits of your intense labor for so long.
@honerdcouster8723
@honerdcouster8723 4 жыл бұрын
Used to be anesthesiology. Now pain management. 1.5 million.
@felmin809
@felmin809 4 жыл бұрын
Hey athletes make a lot more. Do you man
@saulgoodman2438
@saulgoodman2438 4 жыл бұрын
Daniel Bencosme no fucking shit
@pkatsiaunis
@pkatsiaunis 4 жыл бұрын
In addition to what I've figured out from Google, how would you describe the field of pain management? What are typical day today procedures or activities?
@honerdcouster8723
@honerdcouster8723 4 жыл бұрын
@@pkatsiaunis sorry I'm a patient. My doctor is a trigger point injectionist. I'm crazy about her. A pain manager who can go on month long medical missions 3 times a year. She's knows there's a rhythm to pain and she's mastered it
@pkatsiaunis
@pkatsiaunis 4 жыл бұрын
Honerd Couster Thank you, I will look into the field regardless. Seems fascinating
@Manmeetworld271
@Manmeetworld271 4 жыл бұрын
I think the fact that doctors can take home “only” $130,000 after doing a million in revenue is pretty ludicrous to me. Since overhead is generally comprised of things that are independently taxed-salaries (payroll tax), equipment (sales tax), building (property tax)- it seems ridiculous that they should have to pay an additional tax on that sum. I think whatever they’re paying after overhead is deducted is what they should be taxed on. -a future orthopedic trauma surgeon
@DrBeast1
@DrBeast1 4 жыл бұрын
Welcome to capitalism. the only one making money is the hospital owner this way. overhead is a scam to make doctors pay the expanses while the hospitals board pay nothing
@jamesboone2729
@jamesboone2729 4 жыл бұрын
Doctor's Little Secret capitalism allows docs to make more as much or more than that. When docs in socialized medicine countries usually ONLY make 100k.
@DrBeast1
@DrBeast1 4 жыл бұрын
@@jamesboone2729 well according to dr.webb if a doc makes 1m he takes home only 130k so it's around the same thing tbh
@jamesboone2729
@jamesboone2729 4 жыл бұрын
Doctor's Little Secret you do understand the tax rates over there are higher so more docs bring home 130k in socialized medicine than the u.s, right? You’re literally describing a specific kind of situation and applying them to all
@anotsosexysaxman5914
@anotsosexysaxman5914 4 жыл бұрын
@@jamesboone2729 Doctors in public health care systems such as that in Australia can make over $400,000 AUD if they are a specialist, and guess what... NO OVERHEADS. Sure, when most people think of public health care they think of the UK's NHS system, where it has to be acknowledge doctors are underpaid, but the UK is only one country. In Australia, all an experienced specialist in the public health care system has to pay for is their regular taxes, no overheads, no malpractice insurance because they're agents of the government. It's much more profitable for the doctors, even if it's not a completely "Free market". Mind you, we do also have a private healthcare sector where you can earn even more with significantly less overheads than you have in the states
@kkotani
@kkotani 4 жыл бұрын
Just a question I would like your opinion on: veterinarians have the same amount of student debt yet get paid significantly less; vet specialists get less than PCP’s! Thoughts?
@LilJbm1
@LilJbm1 3 жыл бұрын
I guess that's why very few people are vets and you have maybe 1 vet school for every 5 med schools (pulled stat out of butt but the ratio is imbalanced)? They don't do as important a job though as human society see's it. I mean, humans care about humans, obviously. I wouldn't say vets should get paid more, but get indebted less (as in not have to take out so much debt).
@Gr33kSpartan98
@Gr33kSpartan98 3 жыл бұрын
I'm pretty sure you only pay taxes on your net profits as a business owner. If $500k goes towards overhead, that should be considered a business expense
@IdeaCalledFreedom
@IdeaCalledFreedom 4 жыл бұрын
Neurosurgery doesn’t like sharing their salary stuff very much. They do their own survey every year called NERVES and it costs about $2,500 to view the survey, haha
@haroldpierre1726
@haroldpierre1726 4 жыл бұрын
It's amazing how low these averages are. But, I know a lot of physicians who won't complete these surveys because they are making very high income. So, this should be a guide but know that there are physicians easily making double those numbers reported by surveys.
@johnsmith-kd4ck
@johnsmith-kd4ck 4 жыл бұрын
All those numbers seem extremely high to be honest, ridiculous to call that low
@haroldpierre1726
@haroldpierre1726 4 жыл бұрын
@@johnsmith-kd4ck look at the physician recruitment websites and the numbers they advertise for new or experienced physicians. As consultant to hospitals and medical groups, I get to see those contracts. That's why I know those averages are low.
@johnsmith-kd4ck
@johnsmith-kd4ck 4 жыл бұрын
@@haroldpierre1726 no i meant like it would be ridiculous to consider some of those salary low, not disputing the accuracy of your statement. I am somewhat annoyed at the fact that in investment banking everyone hates that we can easily make half a million to a few million a year but yet if a doctor makes half a million most people say how the doctor is under paid and deserves to be paid more.
@TwiztidPain
@TwiztidPain 3 жыл бұрын
It all comes down to Location Location Location, some private health doctors that get to work with high profile clients are a nice cushy life.
@davidparker527
@davidparker527 3 жыл бұрын
I recently graduated from biomedical science and will be attending my graduate entry program next year in medicine (Australian student, by the way). My key areas of interest are zoonotic diseases, microbiology, and otorhinolaryngology - if I was pressed for a specialized field. Could you tell me why ENT specialists are paid so highly? I have reviewed aggregate data and it seems to indicate that they are paid more than cardiologists and oncologists. Why is this so?
@urbananimal55
@urbananimal55 4 жыл бұрын
You lost me at paying 370k in taxes on 500k of profit. This is not how taxes work. You would pay 37 (or whatever percent) on your profit not on your gross revenue (then of course there is how you pay yourself whether you draw a salary or not and various applicable laws, types of corporations etc.). I hate how well to do people always grossly misrepresent how much they pay in taxes. I'm all for reasonable taxes and regulations but this trend makes me a lot less sensitive to their plight.
@olzt100
@olzt100 4 жыл бұрын
I had to gasp and laugh at the beginning of this video. "So, witch doctors get paid the most." As one can tell, either form of "which" or "witch" could be inserted into the sentence.
@nireidelberg9930
@nireidelberg9930 4 жыл бұрын
Thank you Dr. Webb for your insights. I am not an expert on this, but I believe some if not most of the overhead expenses could be written off taxes. And some other stuff like a personal car could also potentially be written off taxes. So honestly I feel you got that part somewhat skewed. As I see it a solo self employed physician realistically could end up having more than 250k, possibly much more. Even if not, the major expenses associated with the profession had already taken care of so it is like saying 100-250K to the pocket. And for some reason Dr. Webb rounded 48% of a million to half a million, it is 20K deviation. Which also end up in the pocket at some extent. I am by no means suggesting that Docs getting overpaid. I am saying that most of them live comfortably, and with the right "life hacks" they can improve their lifestyle and economics. Would really appreciate videos and maybe some sharing of experience that made Docs from having 130K to >250K.
@cathymikolajchak
@cathymikolajchak 4 жыл бұрын
There is one thing you didn't included in a doctor's overhead/expense.. malpractice insurance. While inhave no first hand knowledge, I am sure its not cheap but a necessary thing and most people never think about the Drs having to pay for that. Plus with all the new rules /polices due to this virus, I know some doctors and seeing less patients because they are making more time between appointment slots thus limiting number of people in waiting room at same time so I'm sure that cuts into their revenue but the same overhead is still there
@mr.gloomy9475
@mr.gloomy9475 4 жыл бұрын
he included that. did you watch the video?
@evanmiles7252
@evanmiles7252 3 жыл бұрын
Is that 30-60k per physician? Or would the physicians pool the money together?
@kad.k1
@kad.k1 3 жыл бұрын
bruh it's not because of inequality that women make less... women work less hours generally speaking and men tend to work in more high-paying specialities...
@akhileshgaur2364
@akhileshgaur2364 3 жыл бұрын
Sir if any student studying in residency program in usa so they have medical benefits or not like if he want to do his surgery like limb lengthening so who will pay for this sir pls tell me
@joebell231
@joebell231 4 жыл бұрын
What age did you start medical school and what age did you start residency????
@ss-pw4zj
@ss-pw4zj Жыл бұрын
Does insurance go under regulation?
@Life2dmax1
@Life2dmax1 4 жыл бұрын
Any advice on what resources to use to learn about the business of medicine (private practice, etc)? Do you think it would be worth it for med students to invest time into this?
@chrisfiechter1233
@chrisfiechter1233 4 жыл бұрын
Check out White Coat Investor
@swurlnplot
@swurlnplot 4 жыл бұрын
Great video and analysis, but didn't this come out over a year ago? Interesting watch nevertheless
@dubbssawshop
@dubbssawshop 3 жыл бұрын
Sad thing in my area is doctors just want you in and out. They don’t want to answer your questions or concerns , and say we’ll i think this is what it is. And for heavens sake don’t make any suggestion about your care to them, then you really are treated with disrespect. They just say we’ll im the doctor so I know what’s best. My wife went to the doctor many times over 2-4 years with severe pain in her lower abdomen and lady parts, was told by many that it was Just cramps or gas pains. A year later while giving birth to our only child they had to do an emergency hysterectomy because her uterus, ovaries, and Fallopian tubes were completely destroyed by endometriosis, the doc that did the surgery said if it was caught years prior it could have been removed by ablation and no one ever answered for this. So I think they are paid to much for what little they care for their patients. Can’t say that for all doctors but the ones in my area are a joke.
@babyyoda8195
@babyyoda8195 4 жыл бұрын
Where's cardiovascular/thoracic surgery doc? We used to be the highest until cardiology fucked it up for us
@malenurse3607
@malenurse3607 4 жыл бұрын
Would you be able to interview a certified register nurse first assistant(CRNFA)? From my understanding they are considered the P.A's but in the nursing side. Its an alternate option for those who don't want the debt of P.A school but still want to work with surgeon and do procedures.
@Scott-is2cb
@Scott-is2cb 4 жыл бұрын
I am wondering, what about trauma surgeons? Well actually will be moving towards critical care surgeon. Where do you see that fitting in on the list? If I may be so bold in asking. Would think some type of compensation would be present considering it is falling out of favor rather quickly. Hopefully legal coverage at least? Anyway, your thoughts? Thank you
@rayanabuomar1113
@rayanabuomar1113 4 жыл бұрын
What about anesthesiologists?
@doctorbobby4543
@doctorbobby4543 4 жыл бұрын
We do well.
@jamielannister3627
@jamielannister3627 4 жыл бұрын
@@doctorbobby4543 it sounds like a boring job when compared to surgery, though
@jaybhatt9976
@jaybhatt9976 4 жыл бұрын
Hey there....the figures which you talked about in this video initially that this speciality makes this amount of money....was that after removing taxes and overhead or we need to remove like 90% of that amount just for the overhead and taxes? Can you please tell that how much amount we get in our hand to spend on our dreams and life out of that amount?....you told it varies but I just wanted to know an approx range for each speciality
@jaybhatt9976
@jaybhatt9976 4 жыл бұрын
Reply please
@karaokekingskingdom
@karaokekingskingdom 2 жыл бұрын
that maths at 8:34 don't add up, that's scary that one slipped through the net. you would only pay taxes on the net after overhead, so it would be on the 500k. at 37% that would be 185 in tax, leaving you with 315 after tax, surely...
@pikusarker1359
@pikusarker1359 4 жыл бұрын
How much canadian doctors make after overhead? Nice video.
@brimmed
@brimmed 3 жыл бұрын
holy cow, wish i actually gave a damn about biology, etc. i'm just an engineering pleb over here. i guess it works out alright considering only had to do 4 years of school and generally get to slack off at work
@LilJbm1
@LilJbm1 3 жыл бұрын
??? Sorry what are you referring to? If you mean practice medicine it isn't all "slacking off at work" and even if it was it isn't 4 years of school. It's 4 years of UG education, 4 years of med school, then (WOOHOO NO MORE TAKING OUT LOANS) 3-12 years or so of residency depending on what you do. It's minimum 11 years of school, 8 of which you make $0 and are taking on debt.
@cjDollar
@cjDollar 11 ай бұрын
if i want to challenge general surgery residency and fellowship at age 42, is it too late or commonly seen case?
@reckless_ashen9383
@reckless_ashen9383 4 жыл бұрын
Don't really know where to post a request so I'll just do it here 😅 Can you please do a video on instability? Be it craniocervical or lumbar instability :) thank you so much
@austinthompson1961
@austinthompson1961 4 жыл бұрын
The overhead would be a tax deductible business expense correct? Would you not just be responsible for taxes on the 500,000?
@UzayrSiddiqui
@UzayrSiddiqui 4 жыл бұрын
Yes, you are correct.
@blackphilosophy9691
@blackphilosophy9691 4 жыл бұрын
This is a very informative and enlightening video Dr. Webb! May you be showered with blessings and peace. I hope you are doing well. I have two questions. Do you think tattoos will affect the view of the doctors in major black community hospitals and communities? My second question is, are HBCU medical schools softer on having tattoos as a medical student?
@antoniowebbmd
@antoniowebbmd 4 жыл бұрын
Good question. I answer it in this video here kzbin.info/www/bejne/r2Kwe36pnsidaMk and no I don’t think they will be softer bc of tattoos.
@killerx367
@killerx367 4 жыл бұрын
Still not sure if I want to become a doctor.
@Maxumized
@Maxumized 4 жыл бұрын
I’m getting job offers for Urology for $700k
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