Most of my relatives and immediate family are all physicians. My dad is an OB/GYN. And as some of you may know, the malpractice crisis in NJ and in other states such as Pennsylvania is wiping out all the doctors. Many are leaving their practices and moving on to other states. My dad has a colleague who pays $250,000 malpractice, that amount from his income has to go to insurance. And in our ****ed up world, lawyers are highly accessible and even if there is one bad outcome, doctors are sued.
Nowadays most OB/GYNs and other physicians who practice high-risk medicine have to be extra careful, because if they make one small mistake, even if its not life-threatening, their asses can be on the line and in a courtroom in no time.
My dad has to pay $120,000 malpractice and there is always an uncertainty. He's not sure if he will even get insurance next year. He may be forced to move his practice to another state and to start from scratch. My dad is highly respected in his field of medicine and has a a very successful practice.
I'm definitely considering joining the medical profession, however, I sometimes wonder, is it really worth it? There is always a so called "Big brother" watching over your back, and one slight slip can land you with a lawsuit. After going to medical school and completing your residency, which is like about 10 years of school and training, is it worth it if you have to deal with this kind of ******** and have to be forced to pay such a huge chunk of your income to malpractice?
Now I'm not saying that all fields of medicine are like this, but its the high-risk fields which are really hurting. If you become a plastic surgeon or something like that, you don't have to worry about these insane malpractice insurance amounts. And I'm considering becoming a plastic surgeon.
My dad always tells me, do anything you want in life, but do it right. I'm considering getting an MBA and my dad agrees with me. In the business world, you don't have to worry about **** like this. Now medicine is certainly not out of the question for me, however, I would really look into it and think, is it really worth the time and effort?