In this article, we look at 15 medical specialties that are best suited to your lifestyle. If you would like to skip the discussion regarding the medical industry, please go directly to: 5 medical specialties that best suit your lifestyle.
The definition of a desirable lifestyle varies greatly from person to person. However, certain common elements make the medical specialty attractive to many, such as schedule flexibility, income and benefits expectations, growth prospects, work-life balance, and alignment with one's personality. Contributing to. It is important to evaluate these criteria and choose a medical specialty based on how different specialties perform on these factors. For example, if you prefer patient interaction and effective communication, a specialty like radiology, which requires less patient interaction, may not be right for you. Or, if you want comprehensive patient care, emergency medicine may not match your wishes because emergency physicians often don't follow up with patients. Similarly, the surgical specialty may be an ideal career path for those who prefer intensive hands-on procedures and working with robotic assistance.of Specialties with the most employment opportunities Family medicine, psychiatry, internal medicine, and emergency department.
The increasing use of technology in the healthcare industry is expected to improve diagnostic efficiency and reduce the workload of healthcare professionals. The global health information technology (IT) market size in 2020 reached $250.58 billion. The value of this industry is projected to reach $880.69 billion by 2030 and is projected to expand at a compound annual growth rate (CAGR) of 13.3% from 2021 to 2030. Companies like Teladoc Health Inc (NYSE:TDOC), GE HealthCare (NASDAQ:GEHC), and Baxter (NYSE:BAX) are playing key roles in expanding the industry and improving the quality of life for physicians.
Here's what Sound Shore Management said about GE Healthcare Technologies, Inc. (NASDAQ:GEHC) in its Q3 2023 investor letter:
“However, current macro factors such as rising inflation, rising interest rates, and a slowing economy are impacting stock prices in the short term. The base business model has declined. For example, GE Healthcare Technologies Co., Ltd. (NASDAQ:GEHC) was the biggest critic this period. The company, recently spun out of GE, is the world's largest medical imaging supplier with stable growth and high profit margins. We purchased this stock in the first quarter of 2023, when the stock was trading at a significant discount to its peers at 14 times normalized earnings. Our research concludes that GEHC's margins have been temporarily depressed due to spin-offs and one-time R&D costs, and that management's improvement plans are credible. The company's stock got off to a strong start to the year, but gave back much of its gains as higher borrowing rates for customers created demand uncertainty. Additionally, 15% of GE Healthcare's business comes from China, where demand has slowed along with the economy. We believe these headwinds are temporary and that the recent share price decline has further strengthened our position. ”
Despite advances in the medical industry, the work-life balance of the U.S. workforce is far from ideal. According to a report from the Organization for Economic Co-operation and Development (OECD), workers in the United States are working more hours on average. The total number of hours worked per year in the United States is 1,811 hours, which is higher than the global average of 1,752 hours, and significantly higher than the United Kingdom (1,532 hours), France (1,511 hours), Canada (1,686 hours), and Japan (1,607 hours). . Given the importance of work-life balance, it's no surprise that 72% of U.S. workers consider it the biggest factor in their job choice. Additionally, workplaces that offer more flexible work schedules have higher employee retention rates (89%) and increased cost savings. For individuals considering future career options, particularly in the medical field; Best specialties in medicine for work-life balance This will be important to avoid burnout. Some medical specialties naturally offer more flexibility and autonomy than others. Many of these are Specialties suitable for female doctors. Many medical specialties are emerging as high-growth candidates. Best medical specialties of the future These are the specialties experiencing the greatest innovations in medical technology and AI. Ophthalmology, urology, and dermatology are traditionally considered to be more balanced and less stressful than other fields such as surgery. It also tends to become a more tech-savvy field as medical technology continues to innovate.You can also check Here are the 15 least competitive medical specialties in America..
A medical professional wearing a medical communication device is discussing patient data with colleagues.
our methodology
We used a consensus methodology to shortlist the 15 medical specialties that best fit your lifestyle. We consulted many trusted sources, including Medvocation, Dr. Bill, The Medical Futurist Institute, and Reddit threads. Each specialty was assigned a score based on its rank and frequency of occurrence across these lists. We also noted the 75th percentile hourly wage for each specialty. Specialties are ranked in ascending order of total score.
Incidentally, Insider Monkey is an investment site that tracks the movements of company insiders and hedge funds. Using a consensus approach, we identify the best stock picks of over 900 hedge funds investing in US stocks. The top 10 consensus stocks selected by hedge funds have outperformed the S&P 500 index by more than 140 percentage points over the past 10 years (Please see here for the detail). Whether you're a novice investor or an expert looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and company insiders.
15 medical specialties that best suit your lifestyle
15. Nephrology
Score: 6
75th percentile salary: $162.5/hour
Nephrologists specialize in conditions that affect the kidneys. Kidney-related diseases are on the rise worldwide, with chronic kidney disease (CKD) ranking as the ninth leading cause of death in the United States. Nephrologists are responsible for diagnosing, treating, and managing kidney-related problems as well as related conditions such as high blood pressure, fluid retention, dialysis, transplantation, and follow-up care.
14. Cardiology
Score: 6
75th percentile salary: $172.5/hour
Cardiologists are heart specialists who treat conditions such as heart attacks, heart failure, valvular heart disease, high blood pressure, and arrhythmias. Cardiovascular disease (CVD) is one of the leading causes of death in the United States, so this is a specialty with promising long-term career prospects.
13. General/Clinical Pathology
Score: 8
75th percentile salary: $65.36/hour
Clinical pathology includes: The study of body tissues, body fluids such as nasal mucus, blood, and saliva, and secretions such as urine and feces. General pathology broadly includes the study of changes in the body's cellular structure, while clinical pathology includes the study of laboratory reports of body fluids and tissues to assess the nature of disease. This is a test-intensive function with less patient interaction compared to many other specialties.
12. Neurology
Score: 9
75th percentile salary: $192.31/hour
Neurology is the study of the human nervous system, with the brain and spinal cord being the two main specialties. Neurology has many subspecialties and is generally considered one of the highest paying and competitive specialties in medicine. Many common illnesses require treatment by a neurologist, including epilepsy, migraines, multiple sclerosis, stroke, brain and spine tumors, and Parkinson's disease.
11. Internal medicine
Score: 10
75th percentile salary: $51.92/hour
Internal medicine specialists, also called internal medicine physicians or general internists, treat diseases that affect internal organs, blood, and even joints. It also treats chronic diseases such as arthritis, bronchitis, diabetes, obesity, and anemia. Internal medicine specialists are often called in to treat patients with multiple diseases that affect different body systems.
10. Emergency medical care
Score: 12
75th percentile salary: $43 per hour.
Emergency medicine is a stressful specialty that requires a lot of concentration. An emergency medicine physician's job involves stabilizing and treating patients who may be suffering from life-threatening illnesses or accidental injuries. Emergency medicine ranks 10th on the list of the best medical specialties for your lifestyle.
19. Obstetrics and Gynecology
Score: 15
75th percentile salary: $129.81/hour
Obstetricians who specialize in the female reproductive system are trained to treat pregnancy and related health issues, while gynecologists treat general reproductive health and related conditions. Common non-pregnancy conditions treated by obstetricians and gynecologists include infertility treatments, cesarean sections and their treatments, cervical and breast cancer treatments, urinary tract infections, and sexually transmitted infections.
8. Otorhinolaryngology
Score: 17
75th percentile salary: $168.27/hour
Otolaryngologists, also known as otorhinolaryngologists, specialize in diseases and conditions that affect the ears, nose, throat, head, and neck. People with sinusitis, tonsillitis, or other respiratory or balance problems usually need to see an otolaryngologist. Otorhinolaryngology ranks 8th on the list of the best medical specialties for your lifestyle.
7. Ophthalmology
Score: 21
75th percentile salary: $138/hour
An ophthalmologist is a doctor who specializes in diagnosing and treating vision and eye-related problems. Many people often confuse ophthalmologists and optometrists. Optometrists are not doctors. However, they are trained to prescribe glasses and contacts and can treat some common eye problems. An ophthalmologist is a doctor trained to perform eye surgery, treat eye conditions, and prescribe glasses or contacts for patients. It's a rewarding job with low stress and high pay.
6. Radiology
Score: 23
75th percentile salary: $192.31/hour
Radiologists specialize in diagnosing and treating injuries and diseases using medical imaging techniques. Common medical images needed for diagnosis are X-rays, CT scans, ultrasound scans, MRI reports, and PET scans. Radiologists are needed for everything from diagnosing common problems such as ligament tears and fractures to more complex areas such as pregnancy screening, assessing fetal health, and detecting cancer and other serious diseases. There is a possibility that The radiologist has little one-on-one interaction with the patient and is involved more in laboratory work related to scans and reports.
Technology-related innovations from companies like Teladoc Health Inc (NYSE:TDOC), GE HealthCare (NASDAQ:GEHC), and Baxter (NYSE:BAX) play a key role in expanding the healthcare industry and improving the lives of many professionals. is playing. .
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