Choosing between private practice and academic medicine after a gastroenterology fellowship depends on many factors, including career goals, interests and priorities. Consider these breakdowns when deciding where you best fit in the world of GI.
Perspective: Academia vs. Private Practice
Shanique Wilson, MD
Patient Interaction:
- Private Practice: Will afford you more direct and frequent patient interaction, as you'll be focused primarily on clinical care and procedures.
- Academic Medicine: While you'll still interact with patients, your time may be divided between patient care, teaching, research and administrative duties.
- It should be noted that there are private practice settings that still allow for research and academic options with mainly a clinical focus.
Work-Life Balance:
- Private Practice: Depending on your setup, you might have more flexibility in setting your schedule and managing your workload.
- Academic Medicine: Workloads can be demanding, especially if you're involved in research, teaching and patient care. However, some academic positions offer more structured schedules.
- Overnight call varies by institution and practice setting, and both call frequency and patient acuity while on call can vary.
Income:
- Private Practice: Income potential can be higher, especially if you build a successful practice, but it can vary based on factors like location, specialty, patient volume and partnership model.
- Academic Medicine: Salaries in academic medicine may be lower, on average, compared to private practice, but you may have access to additional benefits like research funding, loan repayment programs, academic resources and more competitive medical insurance.
Professional Development:
- Private Practice: You'll primarily focus on clinical skills and building your patient base.
- Academic Medicine: You'll have opportunities for professional development through teaching, research and collaborations with other academics.
Research Opportunities:
- Private Practice: Research involvement may be limited, depending on your interests and time availability.
- Academic Medicine: You'll have access to research resources, funding opportunities and collaborations with other researchers, which can enhance your career and contribute to medical advancements.
Teaching and Mentorship:
- Private Practice: While you may have opportunities to mentor junior colleagues or medical students, teaching is not typically a primary focus.
- Academic Medicine: Teaching medical students, residents and fellows is a significant aspect of academic medicine, providing opportunities for mentorship and academic leadership.
Ultimately, the decision between private practice and academic medicine depends on your career aspirations, lifestyle preferences and values. Some physicians may choose to combine aspects of both by practicing clinically while also teaching or conducting research part-time. It is essential to carefully consider your options and choose the path that aligns best with your goals and interests. It is also important to note that you may change your mind. Many gastroenterologists start on one path before pivoting to another. In addition, many gastroenterologists choose to work within the GI hospitalist, hospital-employed, private practice-employed or private equity-employed model. The options are limitless.
Shanique Wilson, MD
91ÊÓƵMember Engagement Committee Member
Borland Groover Clinic
Jacksonville, FL
Dr. Wilson completed her GI fellowship at Mount Sinai Health System, where she gained expertise in the diagnosis and treatment of a variety of gastrointestinal disorders, including disorders of gut-brain interaction, inflammatory bowel disease, liver disease and gastrointestinal cancers. Dr. Wilson has presented her research at numerous regional and national conferences.
Perspective: Academia vs Private Practice
Khadija Chaudrey, MD, FASGE
Academia Pros
Most of us will find ourselves at the crossroads of academia vs. private practice at some point in our careers. If you find it rewarding and intellectually stimulating to educate adult learners, academia is the answer. You will be expected to engage in some minimum mandatory didactic teaching and research. This is important for timely rank advancement, which then has some monetary benefit but is more paramount for long-term targets as engagement in leadership roles.
Academia Challenges
In academia, one-sided administrative policies, rules and regulations can, at times, adversely impact work-life balance.
Private Practice Pros
Private practice will give you a lot of autonomy as you set the rules. Based on how well the practice is run from a business perspective, it is financially more empowering in the long run. Since there is no trainee teaching or research involved, most time is devoted to clinical care and framing the financial outcomes of the practice.
Private Practice Challenges
The practice has to provide for its running cost and overhead charges and is a balance of productivity versus expenditure. It can involve rate negotiations with the insurers, gaining a competitive edge over other practices and focusing on customer satisfaction. That is a significant skill set vital for you to thrive in private practice.
Khadija Chaudrey, MD, FASGE
91ÊÓƵMember Engagement Committee Member
Lahey Medical Center
Dr. Chaudrey trained for her GI fellowship at Oklahoma University and IBD fellowship at Mayo Clinic, Rochester. Dr. Chaudrey trains GI fellows at Lahey Hospital and Medical Center and holds the title of assistant professor at Tufts University School of Medicine.