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Docs have been complaining about " we got no money" ever since I can remember. But just look at the homes they own, the cars they drive etc... They are "rich people broke", not "average American broke".
That is quite naive of you. Doctors are small business owner who bring jobs to their communities.
I talked to my podiatrist a while back about this, and he said the good times are over, with insurance companies and Medicare dictating what they'll pay for and taking forever to pay even that.
Hence why many doctors are going to cash only or are considering it.
I could see why primary care docs would do this but specialists make plenty of money with insurance and Medicare payments.
My wife's pain specialist has told me numerious times she's had enough and will retire soon. Her main complaint? Insurance reimbursement. Luckily we pay cash now.
I work at a hospital...I'd love to make what docs make. Most of the ones I know (and I have 3 in my family) live extremely good lifestyles. However, I've never met a bigger bunch of complainers (not all of them, mind you) in my life and to top it off, they now complain about their income? I'm not cryin' for ya doctors.
Survey of Surveys : MD Salaries 2008 (USA) at MDsalaries - The Physician Salaries Blog
(http://mdsalaries.blogspot.com/2009/07/survey-of-surverys-md-salaries-2008.html - broken link)
"Schreiber sees 120 patients a week. About 30% of them are enrolled directly in Medicare, while another 65% have private insurance plans that peg their payments on Medicare's rates. Only 5% pay on their own.
That's the part that I don't understand, and that isn't explained in the article.
30% Medicare - that's clear.
65% private insurance plans that peg their payments on Medicare's rates - is that like a Medicare Advantage plan? Or something else? And if he really means Medicare Advantage, does that mean that 95% of his patients are age 65 or older??
5% pay on their own - is that really direct payment from the patient, or does it include private insurance that isn't pegged to Medicare rates?
Most commercial insurance companies now pay based on Medicare rates, a small percentage above the Medicare allowable. Some of the Medicare Advantage Plans like Physicians Health Choice actually pay below the Medicare rate.
Actually, many are far beyond "broke" - as in deeply in debt. Few physicians exit the med school in pristine economic shape. As you can imagine, a licensed physician has ample opportunity to indebt himself to start or enter a practice. And many are burdened with the cost to start that new household, with a "nice house" and "nice car"... on credit.
So I do recognize that health care professionals are cash poor - once all the usury and socialist overhead is factored in.
I agree 110%. I wonder if people realize how much their education costs or how much it cost to run an office?
Sure, there are specialists making a lot of money. But primary care or family physicians don't really make a lot, especially after insurance and overhead costs. But, they still had to go deeply in debt and give up many years of their life to get into those positions. They deserve to be well compensated. I don't blame them for dropping medicare patients. They have to draw the line somewhere.
Knowing that I'll one day need medicare, it scares me to see this trend. But I don't blame the docs. I blame the morons in DC.
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