Building a bank for doctors: Seeking that first job as a physician

Most new physicians look for employment as their first job as a doctor for practical reasons, said Michael Jerkins, MD, MEd, president and co-founder of Panacea Financial.

Medical Economics: Do young physicians aim to start independent practices, or do they look for employment to start their careers?

Michael Jerkins, MD, MEd:I think by and large, it's employment. I mean, you're looking at somewhere between 75%, 85% of new residency and fellowship graduates looking for the employed routes, and a smaller minority looking for their own independence, whether that be again, as a minority owner in a larger group or ASC or practice. But most people, and this is true in the dental side too, most people, right out of training, are trying to find that employed setting. Their number one priorities are, starting to make money, paying down their student loans. And then they kind of think more long-term after that, which is not the best route, but I get why, and I was very similar in some ways. But I do think that we're seeing a little bit is more emphasis on entrepreneurialship in general. I think anything from, you know, a side hustle of that doctors can find a way to make money on the side, whether it be expert witness or locums work or things like that, where doctors are trying to find ways where they can be in control of their time and make some money. That same spirit, I think, has triggered more interest in, how do I become more independent in my clinical practice as well?