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how do doctors make money?

medical field questions for doctors

Thank you comment icon Hey Zara, can you clarify the question a bit more? Are you asking about the possible doctor careers like hospital, clinic, etc.? Because typically doctors, like many other professions, get paid by whoever they work for, and the specifics are in their individual employment contracts. Aditi Kannan

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Fred’s Answer

Doctors make money the same way everyone else does. They offer a good or service that someone else wants. That other person exchanges money for said service.

There are a lot more details, such as how the money is exchanged, who all is involved in the process (hospitals, medical groups, banks, etc.) but those details all vary from employer to employer.
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Paul’s Answer

Doctors get paid in a variety of ways depending on their work situation. Currently, the two most common methods are private practice or salaried employment by a large clinic or an academic institution. Private practice was the most common practice arrangement for many years in the past. A doctor would either open his/her own office or partner with others in a small group. Every interaction between such a doctor and a patient was billed either to the patient directly or to the patient's insurance company. In recent years it has become more common for physicians to work for large clinical groups. In this case, the doctor negotiates a salary with the group he or she is working for, and the group either bills the patient's insurance or bills the patient directly. There are other situations in which doctors work for organizations and are paid a salary for doing so, but these are the two most common methods for doctors who work taking care of sick/injured patients.

Paul S. Treuhaft, MD, MA
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Madison’s Answer

This is a complex question to answer. It depends on what specialty you’re in, what type of job you take within that field, and somewhat on how much time you want to work. There are jobs that are private practice based, salary based, productivity based and these all vary.
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