Radiology in private practice

[sarakj]

Hello everyone,

I hope the interview went well for all of you guys going through the long road of CaRMs process . I was just wondering whether radiologists can start their own private practice at any time after graduation. and would the time you put on the private practice worth the income at the end of the day !

Thanks as always

Sara kj,

[moo]

As with any area of clinical medicine, you probably can but you need to be a good businessperson. You need capital to invest in machines, infrastructure, manpower, etc. Startup costs are high. Most new grads, whether in rads, FM, or any other specialty have little to no business skills so it's very difficult. Running a private practice is like running a business. You need to establish yourself in the community, be able to garner referrals from physicians, etc. Bottom line: it's doable but very difficult.

[Jochi1543]

I think there's only one private practicing radiologist in all of Alberta. The only reason I know this is because my old EMS partner used to date his daughter and wouldn't shut up about her dad and how filthy rich he was, lol.

[Who M.D.]

I can think of two (one female, one who doesn't fit the daughter dating part) more. Both of these radiologist worked for a hospital-based group for many years first.

[Lactic Folly]

I think it would be rare (and difficult) for a new grad to enter solo practice, but aren't most radiology groups private?

[moo]

You could say almost all radiology groups are private for profit. The private not for profit groups work as part of hospitals. Because of HUGE start up costs, I think it is quite difficult to get start a private practice radiology group. When I work as a family doc I frequently refer to mostly private for profit radiology centers (Brooke radiology, for instance in BC) as they are quicker. At times, I will send them to the local community hospital (private not for profit) for more involved procedures but these tend to take a lot longer.

[tooty]

what kind of huge start-up costs are there for a radiologist to interpret images?

 

do they all have to buy their own MR and CT scanners?

[moo]

what kind of huge start-up costs are there for a radiologist to interpret images?

 

do they all have to buy their own MR and CT scanners?

 

The OP was asking whether it's feasible to start your own practice. This means buying xray machines, CT scanners, MRI scanners, ultrasound machines, etc. This also means getting a lease on a building, gathering/hiring receptionists/nurses and other radiologists, sending out ads to local physicians advising them so they can refer patients to you, and any other things that a normal business needs to do. Most radiology grads are not equipped to do this sort of stuff. People who start their own radiology practice usually have practiced for more than 10 years and have accumulated a lot of wealth--enough to start their own business. I doubt a new grad has enough money or even the credit to borrow enough money to start their own practice.

 

To join a group practice/private company is not considered starting your own practice.

[Who M.D.]

I think it is also important to remember that most groups staff the hospitals, but also own the private offices. If you're starting solo, the radiology groups can theoretically give more coverage, and even run at a loss to offer some extras since they'll have the pool of hospital income still.

 

Joining a group is the path of least resistance, and you don't lose much going that route.

[sarakj]

Thank you so much guys..As always !

Sarakj