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MSK/Sports Medicine in Private vs Academic Practice
Jonathan Finnoff, DOMedical Director, Mayo Clinic Sports Medicine
Center, Minneapolis, MNProfessor, Department of PM&R, Mayo Clinic
School of Medicine, Rochester, MNTeam Physician: US Ski Team, Timberwolves, Lynx
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Disclosures• I receive royalties from Demo’s Publishing for a text
book I co-edited with Mark Harrast, MD. This book will not be discussed during this presentation.
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Pro’sPrivate Practice• Freedom of choice
• Work schedule• Type of patients you’ll see• Services you’ll provide• Vacations• Conference time• Support personnel
Academic Practice• Clinical practice
• More resources• Access to latest/greatest
treatments and technologies• Large referral network, more active
cross-referring between specialties• More back-up• Mentors/colleagues
• Research• Infrastructure (ie: statisticians,
study coordinators, labs, etc)• Mentors/colleagues
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Pro’sPrivate Practice• More personalized
advertising• Less bureaucracy• Larger income• Rewards
creativity/entrepreneurship
Academic Practice• Education
• Access to/support for CME• Teach med students, residents,
fellows• More predictable/stable income• Relatively stable employment in
unstable environment• Better benefits package (ie:
retirement plan, health/disability/life insurance, etc)
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Con’sPrivate Practice• Less stability• Fluctuating income• Limited benefits• Often work in isolation• Financial incentive for
partners/colleagues not to refer to you
• Less access to CME• More difficult to be involved in
education and research
Academic Practice• Less freedom
• Need to get OK from department for vacation, work schedule, CME, etc
• Less individualized• Takes time to implement change
(ie: large bureaucracy)• Less income, and less ability to
influence income• May need to take call on inpatient
ward/consults
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Which is right for you?• Depends on your personality, career goals, and
what’s available when you are looking• Not all private practice or academic jobs are the
same• Have a wish list of what is important to you• Divide it into “Needs” and “Wants”• Use this as your guide
• Remember, your first job doesn’t have to be your final job
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Questions?