BC Health has recognized the importance of primary care doctors. And has raised their incomes from an average of $250,000 per year to $385,000 per year.
Now, doctors from various provinces will want to move to BC.
The gross income of $250,000 might seem like a lot but 50% is overhead and a net of $125,000 has 50% payable to CRA for a net aftertax income of $60,000.
Primary care doctors do not earn enough for the responsibility that they take on.
Fund managers earn 1% of assets managed. So a portfolio of $2M pays the manager $20K per year. For baby sitting money. Not making life and death decisions at 3AM.
In BC, international medical grads should be certified as physician assistants and earn at least $60,000 per year.
After 5 years, they can apply for full licensure as a GP with supervision for a further 2 years.
At least 5,000 IMGs will move to BC almost immediately. Hopefully, BC Health will implement this now.
So the war with all the other provinces has begun. And all of this is helpful for the residents of BC who will benefit from a newly energized base of GPs.