doctorusmle
Forum Elite
Topics: 79
Posts: 168
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Hey guys Im in a dilemma here . Dont know when to apply for the programs?
Should I apply with just my step 1 score? (I failed the first time and second attempt i got 90) or should i wait for my ck results and then apply? My ck result will come sometime in oct. Dont know whether to apply in sept as soonas it opens or wait . I am scared to apply with just my step 1 score because of the attempt. Any suggestions please?
Also can anyone tell me how much is the median income for Internal medicine and Pediatrics after finishing the residency? And which one is more competitive (Keeping in mind my failure once) Which one is tougher interms of work and work hours?
Thanks In advance
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| yelenatx
Forum Senior
Topics: 0
Posts: 148
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Income depends on how many patients you see and how much expenses (overhead) you have. Generally IM collects $300,000-500,000 per year minus overhead, pediatric collections are little bit less. Overhead can be between 45-75%, most solo practice doctors have overhead around 55%.
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| doctorusmle
Forum Elite
Topics: 79
Posts: 168
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thanks for the reply yelenatx but i thought IM get only around 150 k and only after fellowship u get more like 300k .correct me if i am wrong
Also can anyone answer my other questions please about when to apply etc...
thanks
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| papri
Forum Newbie
Topics: 5
Posts: 13
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Hi doctorusmle, why are you so worried? you got 90 and you have very good chance of getting matched I got only 77 in step 2 ck and will get my step 1 score around November, but still I m thinking of applying for 2006 match, though I am very confused about what to do. If you go for noncompetitive programs, I think you don't have to worry much, and attempts, do they count?  Don't have any idea.In your case ( with a score of 90) it should not matter how many attempts you took.
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| yelenatx
Forum Senior
Topics: 0
Posts: 148
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It is very easy to calculate how much you would make.
Let's say, as an internist, you would see and average 20 patients a day and get an average of $80 per enconter.
80 x 20 = $1600 per day
1600 x 5 = $8000 per week
8000 x 52 = $416,000 per year if you dont take any vacation
8000 x 48 = $384,000 per year if you take 1 month vacation
80 x 25 x 5 x 52 = $520,000 per year if you see 25 patients a day
Plus you can make extra income by doing stress tests/EGD/colonoscopy, seeing patients in nursing home, etc.
From here you need to substract your overheard (expenses) including rent, employee salaries, office expenses, malpractice. Those who are good in business, are able to keep their overheads at 50%, so you take home 1/2 of what you make. Most solo practitioners have overheads 50-60%. Some large groups may have overhead 70% and even more. That's why it is important to ask about overhead when you join an existed practice.
It takes several years to build up your practice in order to see 20-25 patients a day. So, right after residency you won't be able to make so much money.
Of course, you should apply for residency without waiting for Step 2 results. IM is more competitive, it is tougher and has longer work hours.
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