Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It is a business but there is little competition because the healthcare suppliers manipulate the laws to lessen competition. This certainly happens with doctors. It is just supply and demand. If you can control the supply and the demand continues to increase you can demand higher salaries. The medical community controls the supply by bribing the politicians, no different than big banks.
Unless the doctor also owns the hospital or center, they're only seeing their service charge.
Supply charges, nursing charges (hanging fluids...) are charged by the facility.
If docs had their stuff together, would medicare keep dropping their reimbursement rates? Keep in mind many insurances key they reimbursement as a percentage of medicare reimbursement.
Also you can charge $1000 and only get $300 if the carrier deems that the fair and standard price.
You have just clearly demonstrated that you have no clue as to how physicians are reimbursed for services. A physician can charge $1000 for a particular service he/she provides but if the insurance allows only $300 for the service the doctor has to adjust off $700. The doctor cannot claim this as a loss for tax purposes. The vast majority of physicians have contracts with insurance companies and agree to accept the allowable fees set by the insurance companies. Most insurance companies base their allowances on Medicare allowances so the reimbursement is poor.
Here is a list drawn up in 2008 of 40 people - between the ages of 17 and 30 who became millionaires by virtue of the website. (Article says 50 people, but it shows only 40). Included in the list is Mark Zukerberg who at the ripe old age of 26 was worth $13.5 billion (and is now worth more than that today). These "kids" didn't have family wealth to draw from, they created their own wealth and no one should begrudge them for that.
These are young entrepreneurs who either "by accident" or by initiative/creativity started their own business. They are among the "1%ers".
Stop and think about the thousands upon thousands of businesses that were started on-line. These people weren't sitting around boo-hooing about their lives, they did something about it.
If $353,000 and over is the dollar amount that determines who is part of the 1%, then it would be fair to say that if you make $350,000 you are one of the 99%, then I guess I fall into the 99% category. I'll have to tell hubby to refuse any raise that many come along. Heaven forbid we cross that line.
Here is a list drawn up in 2008 of 40 people - between the ages of 17 and 30 who became millionaires by virtue of the website. (Article says 50 people, but it shows only 40). Included in the list is Mark Zukerberg who at the ripe old age of 26 was worth $13.5 billion (and is now worth more than that today).
Unless the doctor also owns the hospital or center, they're only seeing their service charge.
Supply charges, nursing charges (hanging fluids...) are charged by the facility.
If docs had their stuff together, would medicare keep dropping their reimbursement rates? Keep in mind many insurances key they reimbursement as a percentage of medicare reimbursement.
Also you can charge $1000 and only get $300 if the carrier deems that the fair and standard price.
We have two Doctors that work as Surgical Nurses... they each had their own practices and all that went with it... payroll, hiring, firing, business licenses and filings, fighting for reimbursements... that sometimes never materialized... in short all the responsibility with the added bonus of huge malpractice premiums if they performed surgery.
They are really happy, earn about 140k plus benefits have zero problems associated with being in business and the part they really like it they have no problems scheduling time off... one took 3 months two years ago and traveled through Europe... could never do that with the overhead of a practice to contend with...
We have two Doctors that work as Surgical Nurses... they each had their own practices and all that went with it... payroll, hiring, firing, business licenses and filings, fighting for reimbursements... that sometimes never materialized... in short all the responsibility with the added bonus of huge malpractice premiums if they performed surgery.
They are really happy, earn about 140k plus benefits have zero problems associated with being in business and the part they really like it they have no problems scheduling time off... one took 3 months two years ago and traveled through Europe... could never do that with the overhead of a practice to contend with...
I've heard similar stories. Easier to be an employee than the boss.
I've heard similar stories. Easier to be an employee than the boss.
Thank God not every doctor feels that way. Doctors create jobs. I am glad I am close to retirement age because I see the trend is to force doctors out of private practice.
You have just clearly demonstrated that you have no clue as to how physicians are reimbursed for services. A physician can charge $1000 for a particular service he/she provides but if the insurance allows only $300 for the service the doctor has to adjust off $700. The doctor cannot claim this as a loss for tax purposes. The vast majority of physicians have contracts with insurance companies and agree to accept the allowable fees set by the insurance companies. Most insurance companies base their allowances on Medicare allowances so the reimbursement is poor.
I guess many make it up through Medicare/Medicaid fraud, otherwise how would you account for $60 billion fraud in the medical industry that the government is fully aware of?
The insurance companies do not work with the insured. In my file (medical clinic) I saw a bill that was submitted to my insurance carrier that was padded. I called the carrier and asked for a copy of the bill the doctor submitted be sent to me, or at least tell me the charges over the phone. I was told they could not provide me with that information as it would violate the doctors privacy. This wasn't a Medicare/Medicaid claim, it was private insurance.
Intellectually gifted people would not post on City-data.com. Period.
If your supposition is based upon your 289 posts, I respect your opinion. However, without factual research data, I would caution you about extrapolating your conclusions to others on CD.
The cheaters are the minority but they rob medicare and medicaid of millions. I am the appointed compliance officer at my job. I have rejected many CMNS for durable medical equipment that were generated by home health agencies and never approved by the doctor. The DME companies send the requests hoping that the doctors will blindly sign. My favorite was for a vacuum erection device for a 90 year old patient who also needed incontinence supplies.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
