You could say that becoming a doctor is on the expensive side. The average annual pay for a doctor is around $250,000. But who cares about the money when you’re helping people? Especially not the greedy insurance companies who are trying to squeeze you for every dime you have.
The truth is that becoming a doctor is a lucrative career. And although it’s not always easy, being a doctor is a noble profession. The following will tell you exactly how much a doctor gets paid for writing a prescription – and how much that might be worth to you.
The Cost to Become a Doctor
If you’re thinking about becoming a doctor, then you’ll need to figure out how much it costs to do so. According to the U.S. Bureau of Labor Statistics, to become a physician you must complete medical school, go through a residency program, and then complete a post-doctoral fellowship. The total amount of financial aid that you receive will be determined by your sources of funding and will include student loans, work-study funds, and grants. You can find the full costs of medical school and residency here.
Before you start panicking about the high costs of medical school and training, remember that there are several million dollars of scholarships available for students in training to become doctors. Also, student loans are often amortized, which means you won’t have to pay them off all at once. Instead, you’ll make smaller payments over time.
The Cost to Maintain A Medical Practice
Once you’ve become a doctor, you’ll want to maintain a medical practice. According to the American Medical Association, the average annual cost of maintaining a medical practice in 2016 was around $285,000. This includes costs such as rent, staff salaries, utilities, and more. To get an idea of how much this can cost, consider that some solo practices charge $20,000 per year in rent alone. If you’re considering a medical career, it would be wise to become a specialist in a relatively low-cost area first, such as family medicine or general practice. The further you get away from the highly-specialized clinics, the more you’ll need to charge per visit. Remember that your income as a doctor will be determined by how much you can bill for. Make sure you’re aware of how much your practice costs before you start giving serious thought to becoming a doctor.
The above information on the cost of becoming a doctor should provide you with a clear idea of whether or not the career is right for you. If you decide that it is, then the following information will help you decide how much you should be paid for writing prescriptions.
How Much Does a Doctor Get Paid For Writing a Prescription?
Once you’re done reading about the various costs associated with becoming a doctor, it’s time to figure out how much you get paid for writing prescriptions. To do so, you need to look at the various pay structures that your medical practice uses. Some medical professionals get paid per visit, while others get paid based on the number of prescriptions they write.
According to the most recent data from the American Medical Association, the median annual earnings of an internist is around $250,000. This is slightly above the average annual earnings of a general practitioner at $240,000. Lastly, the median annual earnings of a neurosurgeon is $350,000 – more than any other medical professional. Keep in mind that these numbers can vary widely from doctor to doctor and specialty to specialty. If you’re curious as to how much money you’ll make as a doctor, then ask your professional recruiter or go online and look at your state’s medical association’s website. You can also use the American Medical Association’s Physician Compensation & Benefits Report for a detailed analysis of pay structures in different specialties.
As a physician, you’ll certainly help people. But you might not always feel that you’re helping people by taking care of their health issues. When you’re finally paid for your efforts, you’ll realize that you’re helping people get well and stay well.