To those of you who think doctors are doing swimmingly just because you see them still living well, driving nice cars, keeping the country club membership, etc., did you ever think that many of these docs worked their asses off their entire career, were able to save quite a bit of money and build wealth during better times, and have good reason to warn their kids not to go into medicine (not just because of money, but the increasing headaches), and have good reason as to why they are trying to get hospitals to partner up with them to share the financial burdens of the new era of medicine, or selling their practices outright?
By the way, medical malpractice insurance for some specialties, including OB/GYNs that actively deliver babies is around $120,000 per year, per doctor - in fact, there was a time where you couldn't get insurance in Nevada, and there were literally a single handful of OBs left in the state.
Doctors spend half their day talking to insurance companies or filling out their forms.
Now, with the unemployment rate skyrocketing and peoples' benefits being slashed, including med insurance, doctors accounts' receivables are going through the roof.
My personal physician has told me they don't bother going after people in collections anymore because the success rate is less than 10%, and even when they get a judgment, it's an installment plan, and the people end up filing for bankruptcy. He is probably 53 or so, and told me he would never have gone into medicine if things had been like they are now back when he was starting out.
Everyone in the U.S. with a job, full or part time, had Cadillac insurance policies in the 60's, 70's, 80's and 90's.
...Now, not so much, with 50 million uninsured, and that number growing by the month.
A pharmacist at Walgreen's that I know through a friend told me that 85% of people getting prescription filled have one form or another of government assistance, and that it's what keeps their business thriving.
By the way, medical malpractice insurance for some specialties, including OB/GYNs that actively deliver babies is around $120,000 per year, per doctor - in fact, there was a time where you couldn't get insurance in Nevada, and there were literally a single handful of OBs left in the state.
Doctors spend half their day talking to insurance companies or filling out their forms.
Now, with the unemployment rate skyrocketing and peoples' benefits being slashed, including med insurance, doctors accounts' receivables are going through the roof.
My personal physician has told me they don't bother going after people in collections anymore because the success rate is less than 10%, and even when they get a judgment, it's an installment plan, and the people end up filing for bankruptcy. He is probably 53 or so, and told me he would never have gone into medicine if things had been like they are now back when he was starting out.
Everyone in the U.S. with a job, full or part time, had Cadillac insurance policies in the 60's, 70's, 80's and 90's.
...Now, not so much, with 50 million uninsured, and that number growing by the month.
A pharmacist at Walgreen's that I know through a friend told me that 85% of people getting prescription filled have one form or another of government assistance, and that it's what keeps their business thriving.