Business of Surgery: What is Your Worth - Part 1 of 2

Behind The Knife: The Surgery Podcast

Education, Science, Health & Fitness, Medicine

4.8 • 1.4K Ratings

🗓️ 10 October 2024

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our first episode in our 4 part "What’s Your Worth” series introduces some of the basics of identifying all that factors that go into determining your worth as a surgeon. Topics vary from your “value" (ie., contribution margin, profit margin), revenue structure, hospital costs, and value based case. Further, Dr. Maykel covers how physician salaries are determined, average salaries across a spectrum of disciplines, and resources to find out more.

Justin A. Maykel, MD - Chief, Division of Colorectal Surgery, UMASS Medical Center, Worcester, MA.

https://www.ummhealth.org/about-us/our-caregivers/caregiver-justin-maykel-md-colorectal-surgeon-chief-division-colorectal-surgery

X; @JustinMaykel

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Transcript

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0:00.0	Behind the surgery podcast relevant and engaging content designed to help you dominate the day.
0:13.0	I'll
0:15.0	I owe you
0:16.0	I owe you B.
0:20.0	K It's Scott here and I wanted to introduce this new series looking at physician salaries.
0:29.0	Money may be something that you don't feel comfortable talking to your family members or even your
0:33.7	closest colleagues. It may be something that you're actually even embarrassed a little
0:38.0	bit about bringing up to your boss. Salaries are complex. There's many things that go into the work that you do.
0:47.0	And we here at BTK want to make sure that you have a much more thorough understanding of all that goes into it.
0:53.0	So what can you negotiate for?
0:55.0	What is it that goes into your benefits package?
0:58.0	What is the hospital side of the house?
1:00.0	All of these things are concepts that we are going to delve into and hopefully give you a much more thorough understanding of it so that you feel prepared in these discussions.
1:10.0	So we look forward to you sharing this podcast series with us as we help you dominate the day.
1:17.0	I owe you behind the knife fans, it's Scott here and super excited to have a part of this series where we're looking at the financial aspects of medicine.
1:29.0	And I'm super pleased to have one of my good friends and the division chief of colon erectile
1:34.3	surgery at UMass Memorial Health and UMass Chan Medical School Dr Justin
1:38.7	Michael. Justin welcome to BTK. Thanks I'm excited to be part of this.
1:43.2	So tonight we're going to talk a little bit about finances and specifically more from the aspect
1:47.4	of knowing your worth and I'd like you to first tell the listeners out there just a little bit more about yourself.
1:54.8	Where'd you train and kind of give us a little bit of background about you before we do have one?
1:59.2	Yeah, sure. So I did my medical school training at cuff university in Boston and then did my general
	...

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