You intern for 4 years. You get a registrar position (assistant specialist) Then a specialist position.
Once you get that, you can either open your own fully private practice (bloody expensive and not gaurenteed income) or you can go down one of two routes. You can either charge the state an agreed fee of X amount per public patient which gaurentees you a steady stream of work. Or you can site your offices in a state hospital with all of the staff and facilities paid for by the state and your rent is two or so days a week seeing public patients. You also get covered by state insurance and are entitled to a pension.