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Earning Potential as a Doctor

whoartthou

Regular Member
From another jurisdiction, with similar type of billing structure.


HOW MUCH DOES YOUR DOCTOR BILL?
The Star launches searchable database of OHIP billings, after five-year quest for public access to health-care records


The gap within the gap : Disparities in billings within highly paid specialties

Search the Star’s database of Ontario’s doctors:


It also reveals big gaps in pay within specialty groups. For example, the 90th-percentile pay for diagnostic radiolo-gists is $1,096,541 while the median pay is $622,281

Fee-for-service pay gaps between specialty groups
Examples of disparities in average fee-for-service payments among some lower-and higher-paid specialties. This issue is known as "relativity."

Opthalmologists $724,183
Diagnostic radiologists $654,389
Cardiologist $587,234
Pediatricians $286,661
Geriatricians $251,863
Psychiatrists $227,479


MEDIAN/90th PERCENTILE
Diagnostic radiology $622,281/$1,096,541
Opthalmology $604,750/$1,008,000
Cardiology $534,806/$1,415,606

Last year, an internal Ontario Medical Association report obtained by the Star showed that the highest-billing specialties are overpaid to the tune of 52 per cent and the lowest-billing ones are underpaid by about 30 per cent. It called for pay cuts to the highest-paid specialties and top-ups to the lowest-paid ones

The Star's database shows that of those who billed more than $1 million, 158 were diagnostic radiologists,96 were ophthalmologists and 64 were cardiologists. Of 61 family doctors and general practitioners on the list, many work in pain clinics. Another 482 family doctors and general practitioners - many also practising pain medicine - billed between $500,000 and $1million.

Fee-for-service payments are not the same as take home pay, because doctors pay for their own overhead expenses - staff salaries, offices, equipment and supplies - out of their OHIP billings.
The database reveals big gaps in billings for different specialty groups. For example, ophthalmologists receive on average $724,183 in fee-for-service payments while psychiatrists receive $227,479.
This is quite interesting. Obviously procedural specialists will be paid more given the higher overhead costs and risks involved with procedures. Pricing is determined by the market. If you are really good at marketing or in a certain sub specialty and also working in an area of affluence it's going to affect your earning potential for sure.
 
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Just to clarify this section of the above posts as I don't think anyone has done it so far - I am aware it isn't the exact question asked in the OP.

In QLD you increase your pay bracket by 1 level each year within each cut-off, i.e. L1-L3 is intern to resident pay. As a PGY2 resident you will be level 2, as a PGY3 you will be level 3. However, it doesn't go up further than that if you reach into the next cut-off, i.e. a PGY4 resident will still be paid as level 3 because the level 4 section is a registrar job. The cut-offs and pay scales are available in the medical award for QLD..

Base salaries are also not very reflective of actual pay in most states & especially in Qld - they do not reflect your pay loading for working nights/evenings (+15%) or saturdays (+50%) or sundays (+100%). Similarly, they don't reflect overtime, fatigue pay, on-call etc. As an intern in a hospital that happily paid overtime I made ~95k. As a registrar for half this tax year I think my pay was ~140-150k -- I work an extra 8 hour shift every fortnight, work a full weekend in every fortnight, half night shifts & get paid overtime 2hrs every shift. One of my surgical colleagues made ~240k as a L4 registrar (PGY3) last year but did so at the expense of his sanity working a 1:2 on call roster and doing constant fatigue shifts.
Thank you Benjamin. That is awesome information and very helpful! Much appreciated.
 

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