Such is the competition for students that many medical schools will accept "life experience" and TAFE qualifications/diplomas/ university bridging courses in lieu of bachelor degrees.
Doctors and their Income
- Thread starter china
- Start date
Such is the competition for students that many medical schools will accept "life experience" and TAFE qualifications/diplomas/ university bridging courses in lieu of bachelor degrees.
Again, china is wrong and oversimplifying the medical pathway. To get into medicine you need a decent score as well as the UMAT/interview. It is not a gravy train as he makes it out to be because all medical doctors (GPs especially) are controlled and paid by the Federal government. Each year, the Federal government clamps down on doctors who bill too many patients through their data tracking through government agencies like the PSR and the HIC. Much, much more political and complex.
Aaron, I disagree.
Bulk billing or total dependency on government payment for services or welfare for health services is in sharp decline. Most doctors will charge patients a fee or "gap payment" for their services. And doctors in this country still retain the right to set their own fees. This is how seven figure incomes are obtained.
So the medical profession does not support a welfare mentality for its services.
Bulk billing or total dependency on government payment for services or welfare for health services is in sharp decline. Most doctors will charge patients a fee or "gap payment" for their services. And doctors in this country still retain the right to set their own fees. This is how seven figure incomes are obtained.
So the medical profession does not support a welfare mentality for its services.
China, even doctors who private bill do rely on patients who still swipe their medical card at the terminal and claim this money back from Medicare. To say that government payments for services is in decline is nonsense - try to imagine a doctor who charges such a large consultation fee that the medicare rebate is insignificant. It would be so offensive to how the current system works (and the government tries to encourage GPs to bulk-bill which is why they pay extra for bulk billing as opposed to private).
The vast majority of patients who attend busy GPs are those in low socio-economic areas - the majority of whom are on healthcare cards and/or welfare. A GP who operates in a better suburb like a Mosman would not get the same volume to generate high earnings.
I know all this because my family runs and operates a medical clinic, plus we have many friends in the medical profession. I don't just focus on some made up figures and extrapolate it across an entire year to work out how much a GP earns. I actually see the money coming into the till and who the patrons are.
No they wouldn't unless it was a nurse with substantial experience with no degree.
Under the structure of Australian post grad education you xant just rock up and claim "life experienxe" for something like medicine.
there is that flag again
so simple, fast and easy with those big returns, why worry about investing
, just cut that qualification and roll in it.the argument here though seems really on its head
if its so simple, and a gravy train and provides an income of 2 mill plus a year, why would institutions have any problem with highly skilled and prepared students and have to resort to those with 3 years experience with a HR licence ?
ta
rolf
The bulk bill rate is an insult to GPs. That is why many GPs do charge a "co-payment" consultation fee in excess of the bulk billing rebate, in order to reflect what they believe that they are worth. This fee can come to about $80 for ten minute consultation. Assuming fifty patients a day, this comes to about 4000 dollars per day and 20k in a five day week.
Please stop. You have no idea.
We know you're not a doctor because you'd know everything there is to know about them if you were - owning a Corolla is not the giveaway
.So China, what do you do for a job if you don't mind me asking?
Not too bad? Keeps one off welfare.
there is that flag again
so simple, fast and easy with those big returns, why worry about investing
the argument here though seems really on its head
if its so simple, and a gravy train and provides an income of 2 mill plus a year, why would institutions have any problem with highly skilled and prepared students and have to resort to those with 3 years experience with a HR licence ?
ta
rolf
Good point. As can be seem from the posts, many in the public think that medicine is a challenging course, hard to get into and too alien for them to think about. Many do not have the determination at age 17 to commit to six or seven years of university. So there are many reasons why attracting the right students is difficult. Whilst previous academic performance is not important, many unsuitable people are weeded out during the IQ test or interview process.
Ah, yes, China told us last week that he is in the service industry. I wonder how the service industry is taxed? Is there plenty of opportunity for cash in hand services?
China, if you are already on a six figure income, why stress about becoming a doctor? Just keep doing what you are doing and you'll have your millions in no time.
Like I said last week, why not relocate out of Sydney and you can live in a luxury home for your $700K. I'm sure the same services would be required all over the country.
Cheers
China, if you are already on a six figure income, why stress about becoming a doctor? Just keep doing what you are doing and you'll have your millions in no time.
Like I said last week, why not relocate out of Sydney and you can live in a luxury home for your $700K. I'm sure the same services would be required all over the country.
Cheers
Ah yes. Thus proving that a GP earns in excess of a mill pa.
The patient pays $80, the GP gets $80. That's because the GP's business has no outgoings whatsoever. No rent, utilities, staff, anything.
People outside of a business looking at a business often just look at the incomings, and assume the outgoings are minimal. People assumed I was on a huge income from my business, when in fact the profits were not that great.
I read China's post to mean the co-payment fee is $80, which is just wrong. Our doctor charges about $55 and we get back about $35 from Medicare, so it costs us about $20.
I'd like to know how many doctors charge $80 co-payment
(I'm talking local suburban doctors, not specialists...)
Mine charges $65 for 15 mins, and on average that's what you get. GPs hand over around 40% of their fees to the practice. The average GP will earn no where near a million a year.
Exactly..........!!
Maybe not rich, but not a bad lifestyle subsidised by the government. According to many posters, you can live reasonably well on 50k a year.
So if you are living in a mansion, have income from 800k of investments and the government not only gives you 30k a year in pension but transport, pharmaceutical and various other discounts plus 10k a year from children - coming to essentially a government funded 50k "living allowance package" - and free / subsidised access to nursing home - this is not a bad lifestyle for the pensioned retiree. The key to this is how to make sure that you do not have more than 800k of assets outside your own home when you reach pension/welfare qualifying age. If you have co-operative kids, this is not usually a problem.
Agreed, but easily between 200-300k take home pay. And thats for GPs, one of the lowest paying fields within the medical profession. This means that as a bare minimum, even the worse performing medical graduate, will be in the top 1% of income earners in Australia. This means that from a income/wealth building viewpoint, this is one of the better roads to take.
