Our Blog

As a physician, you have plenty of possibilities when it comes to practice setting—and the opportunity to make a switch at any point during your career. Before you decide, though, here are a few options and some important elements to consider.

1. Private solo practice: You become a small business owner.

Pros: Here, you are completely in charge of everything from selecting a location to hiring staff to growing your patient base. In this scenario, you determine how to best build your practice and manage your roster of patients. Do you want to aggressively grow your patient base or keep it limited in size? Do you prefer to set up shop in a large city or an in a smaller area in great need of doctors? All of the choices are yours.

Cons: Part of your time is devoted to operating a business, and you’re doing that on your own. You won’t have other physicians there to help with the workload, logistics, or administrative tasks. The costs also are high, since you are bearing them alone.

2. Group practice: You have the choice of a single-specialty group or a multi-specialty group, as well as a large group practice or a group of only three or four doctors.

Pros: If you buy in to a group practice–or are hired as an employee—you likely will inherit a patient base or will at least get referrals from other physicians in the group. The cost of buying a share of the practice is usually less than that of establishing your own solo practice. And you have other physicians to depend on when it comes to managing and developing the practice. In a large group, you also have a great deal of administrative support that probably wouldn’t be feasible or affordable in a solo practice.

Cons: Your freedom to make various business decisions is limited. Practice hours, days off, the cost of cleaning services and rent, the decision to admit other physicians into the practice… All of this and more must be discussed with your partners.

3. Hospital or health care system: You become an employee, without the responsibilities of operating a business.

Pros: You can devote your time and energy to patient care. You have the opportunity to work with a wide range of healthcare professionals and learn from their experiences and share yours. You also will come into contact with a broad range of patients that you might not see in your private practice. In many cases, your hours and your salary are predictable and you’re offered an attractive benefits package.

Cons: You have little control over decisions made by your employer. The employer’s policies will dictate patient care—and you may not always agree with them. Often, you will receive annual performance evaluations and will have to reach certain targets set by the employer. Seeing a broad range of patients is beneficial for a physician’s professional development, but you might miss the opportunity to closely follow each patient over a period of years.

4. Academic life: Return to school, but this time on the other side of the desk.

Pros: You will have the chance to be at the helm of cutting-edge research and share ideas with other brilliant researchers. You also will guide and inspire the next generation of doctors. Benefits at academic institutions can be a big bonus.

Cons: Salaries won’t compare with what you would make in private or group practice. Your schedule might not be as predictable as you hope as you’ll often have to fill in gaps in patient care left by residents.

5. Corporate world: This can mean anything from the post of doctor on a cruise ship to working for a resort to using your skills at a medical technology startup.

Pros: Hours and salary are usually predictable, benefits packages are attractive, and you will gain experience in the corporate world.

Cons: If you enjoy working in environments such as the hospital emergency room, you may miss the daily act of saving lives if you take a corporate job.

As you explore your options, consider reaching out to a trusted ally like the team at Enterprise Medical Recruiting. Since 1990, we have placed thousands of physicians and advanced practitioners in top medical positions nationwide. Through our decades of experience, we’ve learned the ins and outs of the medical recruiting industry and bring our skills and knowledge to you.