SEE Podcast. EP #3. What they DON'T teach you in medical school or residency BUT YOU NEED TO KNOW.

Max Medert, MD and Shannon Wong, MD discuss topics that individuals considering a career in medicine should be aware of. These topics are not usually discussed in the medical school curriculum that is focused mainly on the science and art of medicine.

The seeing eye to eye (SEE) podcast with Shannon Wong, MD and Max Medert, MD is a podcast with two eye surgeons discussing medicine, business and life.

Shannon Wong and Max Medert are ophthamologists/eye surgeons at Austin Eye in Austin, TX in practice together.

0:01 Introduction
0:50 How do doctors get paid? Reimbursement issues in medicine.
6:00 Medical staff compensation over time compared with physician compensation over time.
7:00 Cataract surgery reimbursement (physician fees) 1993-2023 - downward trend
12:13 Hospital outpatient department vs ambulatory surgical center reimbursement differences
17:23 Do medical students, residents in training understand how doctors in practice are compensated?
25:15 How our private practice is able to survive decreasing medicare and private insurance reductions - elective medicine
28:45 Personal experience with working with family doctors
39:13 Payment to cost ratios between operating costs (medical practice overhead) and medicare and private practice reimbursement between 2000-2016 (for hospitals)
43:30 Are we happy with our choice to pursue medicine?
47:10 Inflation and it's impact on compensation for staff and physicians
48:30 Who do doctors work for? Who is the number one employer of physicians in the US?
50:30 Optum health. United healthcare group.
54:50 The business model of medical insurance or health insurance companies such as Optus or United healthcare.
58:30 What are third party payers? What is the impact of third party payers on consumer behavior?
1:03:30 Private equity in healthcare
1:05:30 work-life balance employed vs self-employed physicians/doctors
1:11:35 The responsibility involved with operating a successful private practice - the important of hiring, training and retaining high quality people
1:15:25 Perspectives on telemedicine vs in-person healthcare
1:18:18 the top 5 employers of physicians in the US
1:20:30 Medical device and pharmaceutical industry's impact on medicine and physicians
1:34:50 Key opinion leaders in medicine
1:37:45 open payments and the sunshine act - how much are physicians compensated by industry?
1:43:00 Learning from peers in medicine

Financial disclosure: we have no interest in the companies discussed in this video other than Austin Eye.

Видео SEE Podcast. EP #3. What they DON'T teach you in medical school or residency BUT YOU NEED TO KNOW. канала Shannon Wong, MD