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List- Ridiculously High income doctors

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  • Avatar Harmonica Man 
    Participant
    Status: Physician
    Posts: 12
    Joined: 03/10/2019

    Just saw this on Crain’s.  The 2017 incomes of the highest paid doctors in NY (or at least those who are employed by a non-profit).

    What gives…how do you make $3M? Yea, I know, I know- probably 50,000+ docs in the state, and comparison is the thief of joy, but damn this makes me feel like a slouch

     

    TOP-PAID DOCTORS
    TOTAL CASH COMP. OTHER
    RANK NAME/TITLE HOSPITAL/SYSTEM FROM ORG./FROM RELATED ORGS. COMP.
    David Samadi, M.D. Lenox Hill Hospital $6,793,426 $58,123 1 chair, urology $6,793,426/$0
    Joseph Levine, M.D. St. Francis Hospital $6,421,284 $44,457 2 chief, electrophysiology $6,421,284/$0
    Richard Shlofmitz, M.D. St. Francis Hospital $4,523,903 $42,979 3 chair, cardiology $4,523,903/$0
    Sathish Subbaiah, M.D. St. Charles Hospital $4,054,986 $23,449 4 chief, neurosurgical $4,054,986/$0
    spine surgery
    Morgan Chen, M.D. St. Charles Hospital $3,840,001 $54,861 5 chief, orthopedic spine surgery $3,840,001/$0
    Frank Schwab, M.D. Hospital for Special Surgery $3,820,321 $58,408 6 chief, spine service $3,820,321/$0
    Mark Urken, M.D. Beth Israel Medical Center $3,526,026 $51,557 7 chief, head and neck $3,526,026/$0
    surgical oncology
    Han Jo Kim, M.D. Hospital for Special Surgery $3,513,618 $50,062 8 orthopedic surgeon $3,513,618/$0
    Robert Michler, M.D. Monteore Medical Center $3,505,333 $43,538 9 chair, cardiothoracic and $3,505,333/$0
    vascular surgery
    Jacob Shani, M.D. Maimonides Medical Center $3,499,544 $39,342 10 chair, cardiology $3,499,544/$0
    Sheeraz Qureshi Hospital for Special Surgery $3,236,769 $46,902 11 associate attending $3,236,769/$0
    orthopedic surgeon
    Mark Bilsky, M.D. Memorial Sloan Kettering Cancer Center $3,209,703 $367,921 12 neurosurgeon $3,209,703/$0
    Eugene Krauss, M.D. North Shore University Hospital $3,007,574 $48,848 13 director, orthopedic surgery $3,007,574/$0
    Lyle Leipziger, M.D. Long Island Jewish Medical Center $2,961,345 $58,123 14 chief, division of $2,961,345/$0
    plastic surgery
    Bernard Bochner, M.D. Memorial Sloan Kettering Cancer Center $2,842,055 $70,417 15 chair, surgery $2,842,055/$0
    Philip Gutin, M.D.1 Memorial Sloan Kettering Cancer Center $2,828,868 $57,489 16 chair, neurosurgery $2,828,868/$0
    Hedvig Hricak, M.D. Memorial Sloan Kettering Cancer Center $2,520,184 $93,569 17 chair, radiology $2,520,184/$0
    Neil Tanna, M.D. Long Island Jewish Medical Center $2,479,400 $58,081 18 chief, plastic surgery $2,479,400/$0

    Angelo Reppucci, M.D. Long Island Jewish Medical Center $2,342,416 $58,081 20 co-director, practice site $2,342,416/$0
    George Petrossian, M.D. St. Francis Hospital $2,311,249 $51,840 21 director, interventional $2,311,249/$0
    cardiovascular procedures
    Mark Sultan, M.D. Beth Israel Medical Center $2,298,573 $15,188 22 chief, plastic and $2,298,573/$0
    reconstructive surgery
    Varinder Singh, M.D. Lenox Hill Hospital $2,265,476 $58,123 23 chair, cardiovascular $2,265,476/$0
    medicine
    David Langer, M.D. Lenox Hill Hospital $2,218,652 $58,123 24 chair, neurosugery $2,218,652/$0
    Samuel Scheinerman, M.D. Lenox Hill Hospital $2,143,860 $48,848 25 chair, cardiovascular and $2,143,860/$0
    thoracic surgery

    #205608 Reply
    Vagabond MD Vagabond MD 
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    Status: Physician
    Posts: 3238
    Joined: 01/21/2016

    I only recognize one name on the list (Hricak), and I met her when I interviewed for residency at UCSF. She must be in her late 60’s or even 70 by now and has been a high power academic radiologist for at least 30 years.

    None of these docs are paid for their RVU production or clinical work. They are paid for their leadership and executive roles, for hiring and retaining talent, for star power, for name recognition, and other intangibles. It is expensive to live well in NYC (I am sitting in a hotel room in Manhattan as I type this!), so physician leaders get paid more than in other parts of the country.

    Occasionally, there are threads from aspiring docs along the lines of “should I go to the more expensive MD school or the state DO school?”, and often there is some contention whether or not it matters. Well, if you count the DOs on the list in the OP, it looks like it sure matters if you want a multimillion dollar salary in NYC!

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    Zaphod Zaphod 
    Participant
    Status: Physician, Small Business Owner
    Posts: 5751
    Joined: 01/12/2016

    Imagine many are paid like Vagabond says, in addition to clinical they get executive pay, most of these are directors/chiefs, etc…and I’d guess some of these also have IP or other kind of shared income arrangements as well. These ‘salaries’ likely also include executive level retirement and health benefits which can be worth a lot. Obviously theyre still taking home a good chunk of change.

    Looks like the top guy on the list has got into trouble for running too many rooms in the past.

    #205628 Reply
    Avatar bean1970 
    Participant
    Status: Physician
    Posts: 479
    Joined: 07/12/2017
    Splash Refinancing Bonus

    I’m not well versed in all the first names, but is there a single female on this list????

    #205630 Reply
    Avatar Peds 
    Participant
    Status: Physician
    Posts: 3789
    Joined: 01/08/2016

    well we know what sloan kettering is doing with their MDs….

    https://www.nytimes.com/2018/09/13/health/jose-baselga-cancer-memorial-sloan-kettering.html

    #205636 Reply
    Vagabond MD Vagabond MD 
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    Status: Physician
    Posts: 3238
    Joined: 01/21/2016

    @bean1970, Hricak is a woman (Scandinavian roots, IIRC)

    "Wealth is the slave of the wise man and the master of the fool.” -Seneca the Younger

    #205637 Reply
    Liked by bean1970
    Avatar Tim 
    Participant
    Status: Accountant
    Posts: 2303
    Joined: 09/18/2018

    “or at least those who are employed by a non-profit”

    The list shows compensation only. A non-profit has three primary sources of revenue.
    Collections on Billings, Charitable Donations, Grants (both government and private).
    It would be interesting to see how these tracked with each one. I would think the results in all three areas were factored in the compensation. If a real estate agent gets 3% or 6% commission , what % should one make on $30mm? Just saying, value is not just wRvu’s. Big dogs take business with them.

    #205640 Reply
    Avatar Crockett’sRiver 
    Participant
    Status: Physician
    Posts: 163
    Joined: 05/24/2018

    $2.5 mill doesn’t go very far in NYC.  It won’t even buy you that house in the Hamptons 🙂

    There is insane income disparity in every field, including medicine.  When I think of what the folks on that list had to do to get there – the competition, the hours – I wouldn’t change places with them.

    Career and finance for PCPs at ADoctorsWorth.com

    #205648 Reply
    Avatar Kamban 
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    Status: Physician
    Posts: 2253
    Joined: 08/01/2016

    well we know what sloan kettering is doing with their MDs….

    https://www.nytimes.com/2018/09/13/health/jose-baselga-cancer-memorial-sloan-kettering.html

    Click to expand…

    It has not made one difference to his financial health. Three months later he is employed as head of Research at Astra Zeneca’s cancer research unit. He likely is being paid far more than what MSKCC was paying him.

    https://www.propublica.org/article/astrazeneca-hires-dr-jose-baselga

    These top dogs never lose in any scandal.

    #205651 Reply
    SerrateAndDominate SerrateAndDominate 
    Participant
    Status: Physician
    Posts: 401
    Joined: 02/01/2018

     

    These top dogs never lose in any scandal.

    Click to expand…

    This is very sad but very true

    Earn everything.

    #205657 Reply
    Liked by Vagabond MD, Peds
    Avatar Tim 
    Participant
    Status: Accountant
    Posts: 2303
    Joined: 09/18/2018

    “These top dogs never lose in any scandal.”

    It’s possible that the only change bank account the payroll deposit was coming from. He may have to wait to recover excess FICA and Medicare withholdings.

    Same office, same staff, same research. Problem solved.
    One deposit instead of two.

    #205660 Reply
    Avatar Brains428 
    Participant
    Status: Physician
    Posts: 249
    Joined: 11/09/2017

    I wonder what some of the physician administrators at the for profit DO schools make.

    #205668 Reply
    Avatar Phantasos 
    Participant
    Status: Physician
    Posts: 68
    Joined: 01/06/2016
    medical school scholarship sponsor

    Manhattan has a lot of MDs who don’t take any kind of “health insurance.” If you run a cash only practice, which people flock to from all over the world (Russian oligarchs, oil sheikhs, various royalty from around the world, New York trust fund babies, hedge fund managers, heirs to the greatest fortunes ever made in our country, etc..), if you run such a cash-only practice you can make that kind of money through your clinical work. It usually requires having an important title at a place like sloan-Kettering or the Hospital for special surgery.

    "The problem with internet quotes is that you can't always depend on their accuracy" - Abraham Lincoln, 1864

    #205682 Reply
    Craigy Craigy 
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    Status: Spouse
    Posts: 1906
    Joined: 09/16/2016

    Neurosurg can make seven figures easy.

    I have seen some pain docs bring in pretty solid seven figures.

    But as others said above, a lot of that list looks like big hospital admin.

    LEVEL 1 WCI FORUM MEMBER.

    #205686 Reply
    Avatar jz 
    Participant
    Status: Physician
    Posts: 649
    Joined: 01/09/2016

    ……..and now compare with the nonclinical administrators of those hospitals.

    #205713 Reply

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