MDs- Are they really benefiting in today's society?

[Piobaire]

Originally Posted by MJC8719x

I think there are much better ways to reduce health care costs if we were going to go to a universal system.

However, if you look at most systems around the world, doctors salaries are lower in the universal system. Although the UK is an exception as General Practioners there often make 80,000-120,000 pounds a year. I don't know about specialists there though.

I also think it would be much easier for the government (politically) to cut health care costs by targeting physicians salaries than to try and reform insurance companies etc. Plus all the populist outrage against those who earn high paying salaries these days makes those with high paying salaries an easy target.

I plan on applying to medical school this summer and have always taken the approach that a career in medicine is not gong to make be incredibly wealthy but that I would always have a job that would allow me to support my family and live quite comfortably.

First, most physicians do not have a "salary." They get paid by doing billable actions. Yes, there are a small number of staff physicians on salaries, but the vast majority simply are not on salary.

Second, physicians follow the money. Why do you think we have more specialists than GPs? They are just like any other group of people in this regard. The actually respond to incentives. I remember when Ontario started to place very low caps on what a physician could earn. The government idiots actually thought they'd work for free, after they hit their caps. No, many moved to the US, some opened part time businesses in other countries, such as Barbados.

Yes, if the US moves to a universal system, the brain trust we call "the Federal Government" will set even more of what is billable. They already set a fair portion of the system, as they set Medicare and senior HMO products, and of course, state bureaucrats set Medicaid rates. However, much of the most lucrative areas are still largely paid out of pocket, like plastic surgery.

It's a long conversation, one I've had just too many times here. Cheers, and g'luck with med school.

 

[thekunk07]

the one thing i do not want is non-incentivized doctors.

patient: "what do you think this is?"

doctor: "oh, i dunno. either ms or a pulled muscle."

 

[MJC8719x]

Originally Posted by Piobaire

First, most physicians do not have a "salary." They get paid by doing billable actions. Yes, there are a small number of staff physicians on salaries, but the vast majority simply are not on salary.


Is this true for doctors working at hospitals? I was under the impression that hospitals paid employees out of the money received for billable hours. Isn't being paid by the billable actions something that occurs more in private practice or do I have the wrong impression? Thanks

 

[needler]

Originally Posted by MJC8719x

Is this true for doctors working at hospitals? I was under the impression that hospitals paid employees out of the money received for billable hours. Isn't being paid by the billable actions something that occurs more in private practice or do I have the wrong impression? Thanks

At academic centers they're mostly on salary, but it's usually not directly through the hospital. And increasingly there are salary incentives based on how much volume you see.

In private practice some types can be paid by the hospital but it's much more common for doctors to get paid by billing insurance companies. A fairly small percentage work as employees of HMOs like Kaiser. The most common setup for most specialties nowadays is a group of doctors in the same specialty being partners together and getting paid whatever they bring in from billing.

 

[Piobaire]

Originally Posted by needler

At academic centers they're mostly on salary, but it's usually not directly through the hospital. And increasingly there are salary incentives based on how much volume you see.

In private practice some types can be paid by the hospital but it's much more common for doctors to get paid by billing insurance companies. A fairly small percentage work as employees of HMOs like Kaiser. The most common setup for most specialties nowadays is a group of doctors in the same specialty being partners together and getting paid whatever they bring in from billing.

Exactly. For a while, there was a move to intensivists (or hospitalists) that you would see on salary, but then they quickly moved to group practices that would contract with the hospital.

Then in the hospital based practices, it's basically back to a guild type setting. The classic example is anesthesia. An anesthesia practice will sign up several hospitals and the young turks do most of the actual earning, but the senior partners pocket the biggest chunk of money. The young turks have med school bills to pay, and are happy to be earning. Then they move up the ranks over the years, or form their own groups, move and take a more senior spot, etc.

If there's one thing that isn't simple, it's the various ways physicians get paid.

I know another practice where all the docs basically keep what they bill, but contribute a monthly nut to the guy that owns the practice. He co-ordinates billing, administrative functions, etc.

 

[singhstyle]

I think Ive finalized the fact that I will be going in to neurological/orthopedic Physical Therapy. Suits my lifestyle a little more than becoming an MD. If I really want to pursue medicine, then I will go for the MD degree, but for now, PT is where I stand.

 

[Stazy]

My friend's dad is a cardiovascular anesthesiologist in Canada and he makes $500,000 a year.

 

[btinl]

It's better to be an MD than a physical therapist.

 

[Captain.Kia]

Originally Posted by btinl

It's better to be an MD than a physical therapist.
You sound like an asian.

 

[btinl]

Originally Posted by Captain.Kia

You sound like an asian.

Remind you of your mom?

 

[Ludeykrus]

I tend to date nurses, and at least down here nurses are still in high demand. I think a new hospital is opening locally, as well.

I agree with Kunk in regards to incentives.

Originally Posted by Piobaire

but it still sure beats a McJob.

I finished up reading 'McDonaldization' not long ago, and now 'Mc'-anything practically jumps off the page at me. Ugh.

 

[Shikar]

Regards.

 

[Piobaire]

Originally Posted by Ludeykrus

I tend to date nurses, and at least down here nurses are still in high demand.

Nurses? DO NOT WANT.

They're crawling with MRSA and other germs, are usually highly co-dependent, and tend to have various other nasty habits. True, you can find a young cute one at times, but she's still crawling with MRSA.

 

[GQgeek]

Originally Posted by Piobaire

Nurses? DO NOT WANT.

They're crawling with MRSA and other germs, are usually highly co-dependent, and tend to have various other nasty habits. True, you can find a young cute one at times, but she's still crawling with MRSA.

Damn, dude, you have to ruin everything. Why do you say they are highly co-dependent? I always kinda pictured a nurse as the perfect wife. She makes decent money, can take care of you when you're sick, and with the growing demand, will probably be able to work part-time.

 

[singhstyle]

And how do MDs do better off than PTs when it comes to quality of life? I simply said that I see more reason for me becoming a PT than an MD... for now. Maybe it will change if I decide to pursue a higher degree. Btinl, are you an MD?