Is Being A Radiologist A Stable Career?

Every graduating resident would like to get a job, be happy with it, and stay there for the rest of their career.  There is nothing better for overall happiness than stability.  Practicing in the same location over your entire career will allow your kids to attend the same schools.  You will get to know the community that you are happy living in.  You will have a place to call home.

Unfortunately, the field of radiology has become a commodity.  In some places, radiologists are no longer viewed as valuable members of the health care team who make contributions that go much deeper than the films they read.  No longer do some hospital administrators view the radiologists working in the hospital as valuable team members.  Rather they view them as a group of film readers.  Increasingly, many believe that the lowest bidders for the service will be just as good.

Alarming trends have included many large radiology groups losing their contracts, such as those in Orlando, and Sacramento to name a few notable ones.  It is not common to find a radiology group which has provided services to the same hospital for decades.  In more competitive metro areas, it is more common to have a revolving door type of service, with multiple groups having provided services in decades past.

Also, it has become common for large hospital systems and academic centers to take over community hospitals, particularly in affluent suburbs, and displace the radiology departments.  Sometimes they will make the radiologists employees with much lower salaries.  Outpatient jobs have been drying up in recent years due to severe cuts in reimbursement.  This leaves few options for the radiologists.

Unlike many outpatient based physicians who have their own practices and patients, radiologist are completely dependent on the hospital for their business.  They can not bring patients to the hospital like many clinical specialists.  They have little bargaining power and control over their destiny.  This leaves them vulnerable to cost cutting measures by hospital administration.  Recently teleradiology companies have come in promising the world to these hospitals, including lower costs, and have taken over radiology groups.

Overall this is an alarming trend in radiology.  This trend may be in its infancy.  It is also common for radiologists to leave their first jobs.  It is likely that there will be even less stability in the future.  The days of radiologists getting gold watches are likely over.  In the future, we will likely see more erosion of the traditional private practice group, and more national companies servicing radiology practices, just like the large teleradiology companies.  So if you want  a stable place to work for many years, radiology is not a great field for that.