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Doctors taking up corporate positions: Medicine has become a big businessBY: jodisa lettin | Category: Careers | Submitted: 2010-11-04 06:26:38
One doctor with a thriving medical practice in California, suddenly accepted a position in a corporation; he traded his shingle for a corporate name plate. His practice, though thriving, was too boring to suit him. He felt that patients only expected him to talk and listen. His group practice was forced to abandon the very things he enjoyed about medicine, from complex medical problems to obstetrics and surgery, due to the high cost of malpractice insurance. He turned into a bridge between the specialist and his patients.
He now has a challenging position for a New Jersey pharmaceutical manufacturer, as their assistant medical development director. The fact that an increasing number of physicians have also ventured into the corporate world means he is hardly unique. Growing tired with the annoying aspects of their job such as government interference, insurance costs, the fight for research grants and the academic politics, these doctors are growing in number. These doctors aren't having any trouble finding work, either, as there is one city that's more than happy to give them jobs. The lure of business has worked strongly to entice these doctors who still work with the medical world in drug research or occupational health.
Doctors can make salaries that exceed what is possible in a private practice. With salary and benefit packages often competitive with that of a private practitioner, corporate doctors also enjoy the additional benefits of company paid malpractice insurance, time off for teaching and study, travel and regular 9 to 5 work days.
Still, corporate physicians make up less than two percent of the entire physician population in the United States. In addition, there are thousands of occupational medicinal doctors managing everything from product and industrial safety standards to employee health and hygienics. There are more than ten thousand doctors fulfilling like positions on a part time basis. There are plenty of physicians working for insurance companies, as claims consultants and many in the pharmaceutical sphere.
The chief medical director's career track for a large insurance agency is not rare amongst corporate physicians. He took a position part time in a restaurant chain for the money he would make, although he was already in private practice as a physician. Back then, a physician worked at a quick pace, inspecting roughly sixty food handlers every hour. Later, with some reluctance, he gave up his medical practice to become medical director for two movie studios. There were even better chances for preventative medicine and an endless amount of opportunities to take up since there was no payment required from the patient.
In times past, a company doctor was seen as one who was unable to survive in private practice's competitive world. They were seen as no better than a school nurse for a company. Due to new attitudes, not to mention laws, about occupational and product safety, the corporate doctor now holds an influential and respectable position. According to the medical director of a large telecommunications company based in New York, this changing view is great.
It's also easier for the fresher doctors to be successful in these places these days, as well. Benefits packages make the positions appealing to older physicians as well. These corporate physicians stand behind their decision because the benefits that come along with the job are so much better than in private practice. In the past private practice doctors looked down on occupational medicine. In one doctor's opinion, many of those who did not make the switch are now envious of those who did.
The corporate physicians who boast the largest salaries are the ones who forgot their stethoscopes. A 78-year-old multi-millionaire, who never had a private practice, is possibly the most well-known corporate physician; setting an example for other doctors. While still in medical school he managed to resurrect his fathers struggling drug company, managed to make his first million thanks to his efforts. As soon as he graduated medical school, he purchased an army field hospital in order to aid people in the Soviet Union, where famine had set in. Because the biggest necessity at this time in the region was food, he began to import grain, and from that time his business grew from the trade contacts he was able to make.
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