I think you hit the nail on the head. I worked for another podiatrist for about 1 1/2 years right out of residency ( PSR -12 )and was making $30/h or roughly about 60K per year.

Now granted right out of residency ( school sponsored at a whopping $7,500.00/year )I felt great as my standard of living was elevated from poverty to good ( well I guess average when you subtract $1300.00/month to that lovely lady Sallie Mae )But.. I didnt go through 4 years of undergrad, 4 of pod school and 1 of residency to live like the person who graduates from community college with as an asssociate RN. (no disrespect- intended ).


So, I opened my practice from scratch. Borrowed about $60.000 for a bank hired one employee and at first used a billing service. I introduced myself to the PCP's, spoke at events, got my name into the community.

Now as I look back as it has been two years in solo practice, I notice I have paid of my loan of $60 K, and I grossed $400,000.00 last year and my net income ( personal take home ) was $200,000.00

I just hired a med tech to shoot xrays and help me with patients. ( yes I did all of my own tech work the first 2 years ) I wonder how 2004 is going to be now that I can double my patient load, as I can do my podiatrist work than pod/tech work.

Funny part is- everyone is so excited about 3-4 year programs. Tell me what a triple arthrodesis pays and then figure out how much time is spent in the OR add in how much time is spent at all post op visits and try to factor in the liability for that procedure and I will tell you how many ingrown toenails, diabetic ulceration, cortisone injections, and in office consultations I have seen during that time period and you will see why if you do not have business sense you may be disappointed with whatever training you have had.

I have actually looked at the surgeries I do on a monthly basis. Usually about 3-4 per week. Really basic stuff like Austins, heel spurs, hammertoes and neuromas. The reinbursemnt on these codes is so weak it is insulting. Honestly, I have fixed ingrown toenails that have payed more than some bunion surgeries. That is truth

Get the training that interests you, but remember your grades and resdidency training mean about zero when you enter the world of business. Podiatry school does a pretty piss poor job regarding business education, probably because either they are afraid to introduce it to the student for fear of shock, or if the faculty are like the ones when I went to school ( they graduated from their school residency and started teaching and somehow think you can actually survive in the real world of leases, payroll, supplies, by doing a 5 hour biomechanical exam for a pair of orthotics that when the insurance doesnt pay for them and the patient stiffs you that somehow you can survive.

Just thought you might get a kick out of this. I like to tell it like it is. Just life experiences of one new podiatrist. Hope you enjoyed.