Choosing a practice setting
Residency Program Insider, January 30, 2015
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As residents and fellows approach the end of their training, they will soon have to decide in what setting they will practice. AMA Wire recently outlined the pros and cons of each setting.
Solo practice: Offers the most freedom but has high administrative burdens, startup and overhead costs, and unpredictable work hours.
Group practice: Usually offers more predictable income, work hours and shared patient responsibilities at the expense of autonomy.
Hospitalist practice: Shift-based schedules are more flexible and predictable but may require more night and weekend work. Continuity of care may also be limited to hospitalists.
Academic medical practice: Offers research opportunities but the bureaucratic structures can be discouraging. Attending faculty may also be required to fill in gaps in patient care due to duty-hour limits for residents.
Employment: Often offers guaranteed income and hours, as well as an inherited patient base. However, employed physicians will have limited ownership interest or control over the practice.
Source: AMA Wire
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