The Economics of Functional Medicine
The primary focus of Functional Medicine is on the healing of patients from chronic illnesses and complex diseases. However, if any physician doesn’t pay attention to the revenue and profitability side of their practice, they won’t be able to stay in business or reach all of the patients who need their care.
There is definitely money to be made in the discipline of Functional Medicine, but it may not be as baked-in and obvious as the world of pharmaceutical prescriptions and insurance reimbursements inherent in conventional medicine. As with the path of healing that Functional Medicine explores, the path to revenue may require additional creativity.
Most people understand what a doctor does and the fact they make a significant annual salary. But many people looking to enter the medical field are hearing more and more about becoming a Functional Medicine doctor without knowing exactly how much they make.
Today we will look at how much a Functional Medicine doctor makes, what they do, and whether or not becoming a Functional Medicine doctor is right for you.
Let’s dive in!
What Is Functional Medicine?
Functional Medicine focuses on figuring out and addressing the root cause of a disease based on an interconnected, biology-based approach. Each symptom a patient has can be just one of many symptoms contributing to the person’s illness.
When the patient receives their diagnosis, it could be the result of several factors. For example, depression is a symptom. Many people feel depressed, but this symptom can be caused by other issues such as inflammation and headaches.
The causes of these symptoms can be influenced by the patient’s environment, genes, and lifestyle. Treatments that address these causes can then have a positive, long-lasting impact on the individual, beyond simply addressing the symptom of depression.
Are you looking to get into a career in Functional Medicine? Let MindBody Talent guide you in the right direction by pairing you with the perfect employer focused on the field of holistic healthcare. Visit our website today to talk to one of our specialists!
What Is A Functional Medical Doctor?
Many people don’t know or have never heard of a Functional Medical Doctor. As mentioned above, Functional Medicine is a holistic approach whose mission is to treat a patient’s condition by finding the leading or root cause of the disease.
If you have chronic pain or illness, using a more holistic approach to your disease gives you greater leverage to solve your problems over time because you are being treated as the whole person. Functional Medical Doctors believe that all of your issues are intertwined instead of isolated.
Functional Medical Doctors use processes that look at a patient’s interaction between their biochemistry, genes, and pathophysiology to develop their medical solutions.
Related Links: The Hero’s Journey Of Functional Medicine in 2022
How Much Do Functional Medical Doctors Make?
Depending on your state, on average, functional medical doctors can make anywhere between $125,000 to $205,000 per year.
According to Zip Recruiter, as of Oct 17, 2022, the median pay for a Functional Medicine Doctor in the United States is about $175,000 per year.
If you want to dive a little deeper into details, $175,000 per year works out to be $14,591/mo, $3,367/week, and around $84.18 per hour.
Even though there have been reported much higher salaries, around $340,000, this is not normal. Right now, the Functional Medical Physician is in the 25th percentile regarding salary range.
Because of the extensive range in Functional Medical Doctors’ pay, this means there are lots of opportunities out there. Differences in salary will be based on years of experience, location of practice, and personal skill level.
Is a Functional Medical Doctor Worth The Money?
Many people wonder if adding a Functional Medical Doctor to your healthcare regimen is worth it. This will depend on several factors. Let’s go through some of the things you should ask yourself below.
Are You Open To Alternative Medicine?
In the beginning, we mentioned that Functional Medicine is a growing field of medicine that uses a different approach for treating chronic illnesses. If you are someone who has tried everything from a traditional medicine standpoint, Functional Medicine is certainly an option worth exploring.
Please note that healthcare insurance plans typically don’t cover visits to Functional Medical doctors, so ask about payment plans when searching for the right doctor for you.
Are you a functional medical practice looking for the ideal candidate with holistic medicine experience? Visit MindBody Talent to find the perfect match for your practice!
Are You Ready To Get Out Of Your Comfort Zone?
Functional medicine treatment centers around patient-focused care and individualized care plans created by your health practitioner.
Functional Medicine is very different from traditional medicine practices. These types of treatment centers focus on patient-focused whole healthcare based on lab work, health history interviews, and diagnostic imaging.
Once the above is completed, the assessment will tell your Functional Medical Doctor how your body systems interact through a biology system-based perspective.
Typically, you will be asked to actively participate in your own wellness journey. This may require you to make diet or lifestyle changes, which can often be uncomfortable at first.
Are You Ready To Build New Habits?
Bad habits are what get many people in trouble in the first place. Overeating, drinking too much alcohol, and smoking are some of the top culprits to bad health. The trick to making yourself healthier is to change those bad habits and make a pledge to yourself you will maintain those good habits over time.
A Functional Medical doctor may give you a specific plan that addresses the needs to solve your issues. Some habits will be harder to change than others, so be prepared to be vigilant and stick with your plan in order to see the results you want in your health.
Just like any other changes in life, it won’t happen overnight. You will need to have patience and discipline before you see any changes.
Related Links: Embracing Lifestyle Health
Are You Tired of Being Sick All The Time?
Do you ever feel like you are getting sick a lot? You may feel drained of energy, always getting a cold, etc. You might not fully understand what’s wrong with your body, but you know instinctively it’s not feeling its best.
A traditional doctor will often prescribe “a pill for every ill”, but a Functional Medical Doctor will look at your entire health structure and biosystem and work with you to create a personalized treatment plan that best suits your situation.
You will find that Functional Medical Doctors hand out fewer prescriptions and focus more on natural health plans that target the root cause of the issue.
Functional Medical Doctor Salaries
Functional Medicine is still fairly new but is beginning to gain momentum. This is an excellent time to get into the Functional Healthcare market as a career because of the growth opportunities and the money that can be made in the field.
For more information on how MindBody Talent can help with your recruiting efforts for your holistic medicine practice, visit our website today!