Dollars and sense Money tips for residents Here is a short guide to building good financial habits in residency, laid out by year in training. Sept. 1, 2022ThursdaySeptember 2022 issue Resident Notebook David O. Shumway, DO David O. Shumway, DO, is an internal medicine resident in Biloxi, Mississippi, and a member of the AOIA’s Digital Health Innovation Community of Practice Steering Committee. Contact Dr. Shumway
AOIA’s 4-part webinar series on digital health prepares DOs for tech advancements, improving patient care David O. Shumway, DO, and Sameer Sood, DO, will present new digital health technology on Nov. 4 as part one of the free four-part webinar series.
What residents are getting paid in 2024 Annual Medscape report explores average resident salaries based on residency year and notes that 90% of residents feel they are underpaid “relative to their worth, skills and hours.”
Obtaining your medical license after your internship year, if your state laws allow for it, and then turning your education into moonlighting is BAD idea. Why? Not only do you expose yourself to liability outside of your training, but, in the eyes of the law, you are a “licensed physician” and, legally, from a medical board viewpoint–most whom do not make a distinction between their state-licensed doctors and state-licensed-board-certified doctors, you may be held to the same standard moonlighting as a board-certified doctor in your specialty–and because you haven’t finished your residency, you’re not yet board-eligible or board-certified. In a courtroom, the fact you’re not board-certified but misread that EKG won’t matter. You are a LICENSED doctor and you CHOSE to practice medicine WITHOUT THE NECESSARY EXTRA YEARS OF RESIDENCY REQUIRED TO BECOME BOARD CERTIFIED. Please do not make the mistake of moonlighting during residency–or for that matter obtaining your state license until you’re a board-certified physician. The risk is too great to you and your future. Sep. 29, 2022, at 12:43 pm Reply
I have a different take. While you are in residency, you should be spending all you time learning your trade. I mean after your work day is over, hit the books. Learn as much as you can in residency so you can be the best qualified doc. If you do that, and skip the moonlighting, you will be surprised how financially well you will do. Oct. 1, 2022, at 3:51 pm Reply