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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?