Have you ever wondered how even though you are a Doctor, you frequently end up with less hard cash in your pocket that your friend who decided to work with an event company? I found the secret! They are making all their money from us!
What with the MMC deciding to impose credit hour diktat on us, we are forced to attend conferences. Knowing this, most medical associations and a few business minded professionals have decided to milk the proverbial cow by holding grand conferences in grander hotels in even grander cities around the world charging us an arm and a leg to attend and earn these points.
Don't get me wrong. I'm not saying we do not have a choice. Of course, there are local CME's and conferences we can attend, but the excuse is just too good to pass up, isn't it. With the result, we have event companies, charging bombs to organise these events, along with tourism, travel, stay and what not. Final Accounts: Minimum registration for one day at an overseas event - A mere $325 only! The full conference $650, and welcome dinner and grand gala dinner (or some fancy title for a buffet) $100 extra. Sure, they will help you get airfare cheaper (saves a couple of thousand Rupees at the most) because somehow they have to get you there. This is nothing more than the same peer pressure we parents complain about for our children. Of course, you must attend that conference. So many famous Doctors will be there, you must go and meet them! Also, put it on your resume that you went to this grand hotel for the conference.
I have been part of an organising committee of a few such conferences and invariably we always get sponsors for the event. Also, most of the organising committee are free (including stay and travel). Counting the sponsorship amount and even the minimum registrations required for the conference to go on, the organisers stand to make a cool profit of at least 100% of the costs at bare minimum. If the conference is a hit, double this easily. Take home for the event company is usually a percentage (ranges from 10% to a cool 25% for more experiences companies). That's alright for them, but is it right for the Doctor's to be doing this?
Son, you are going into business. No where close to medical school!