From both the left and right side I've seen numerous arguments regarding failures in the healthcare system. We've seen tremendous inflation in costs, reduced service and government debt and funds allocated towards healthcare. From the left side people are against high income earners off of the government and peoples dime (which I support) and on the right side people are against government enriched industries and mandates/regulation (which I support). Yet in the US we have a significant shortage of physicians, cartel like behavior by groups and regulations that have made physicians make fortunes relative to most countries. This is not because of a free system, but because the American Medical Association and other groups create artificial barriers that reduce the supply of physicians in America. Reduced supply equals much higher than natural salaries at the expense of Americans to subsidize a small subset of the population. Why is there no uproar about this in the health debate? http://www.forbes.com/pictures/efkk45eimej/no-10-best-paying-job-chief-executives/ 9 of the top 10 highest paying jobs are all Doctors/Dentists. The best of a profession should command the most as opposed to general skyrocketed salaries that are based on scarcity and taxpayer money. Where is the outrage??
a decade or more of training starting with high school grades, high stress, long hours, massive educational costs, high insurance premiums, dealing with people daily who feel like crap, telling people their loved ones are dead? No outrage for doctors from me. They earn it and they contribute real value to society. How Being a Doctor Became the Most Miserable Profession Nine of 10 doctors discourage others from joining the profession, and 300 physicians commit suicide every year. When did it get this bad? http://www.thedailybeast.com/articl...tor-became-the-most-miserable-profession.html
What jobs are not high stress? The guy in the military or policeman getting shot at is probably more stressed out than a doctor. They have to deal with people who feel like crap and have to tell people their loved ones are dead? What about the hours of Investment Bankers or Lawyers (which isn't for only two to three years during residency), who routinely put 80 hours a week in during their entire 20's and much of their 30's. The fact that most people are so apathetic to this is a big reason why no one seems to care that regulation, crony capitalism and such are part of a system that is bankrupting our nation.
Policeman commit suicide at around the same rate? Should we be overpaying them for the service they provide?
The level of training for medical school far exceeds any other professional school. Almost a joke you compare doctors with military and policeman who are often times at the lowest end of the IQ scale.
Then why don't they let more people become doctors? I'm not balking at physicians, I'm balking at a system that has created a significant shortage of physicians that has artificially raised their incomes and cost Americans tremendous amounts of their hard earned money. Why should physicians in the US make 50% more than most developed countries? Most PhD's go to school for around the same number of years and spend years researching subjects and do not receive subsidized income from taxpayers.
I think part of his point is that this is because of medical organizations that artificially do that. Doctors get trained in far less time - nearly as effectively - in other countries. At the end of the day, if you truly want to cut medical costs, then everyone has to lose something - that includes the hospitals, pharmaceuticals, doctors, equipment makers etc. If consumers are to pay less, then someone on the other hand has to earn less.
Medical schools are slowly increasing in numbers, but the main problem is the lack of residency spots for those graduated from medical school (especially foreign doctors). You can blame the lack of funding for residency spots on the government and Congressional funding. There are plenty of doctors willing to come to America and practice here, but the logistics aren't possible at this time. About only 50% of those international medical graduates who apply for residency are able to land a residency in the USA any given year. PhD isn't as rigorous as medical school, although it requires a lot of years of education as well.
The primary bottleneck to physicians was US medical schools. Ironically a subset of the American Medical Association was given to power to determine if a new school could be opened. They also did not allow virtually any schools to be built for almost 30 years as they continually feared a glut of physicians. This led to massive shortages and the problems we face today especially in smaller communities. Doesn't this conflict of interest of the AMA with the goal to represent US physicians and then have such control over the supply and their salaries?
That is a very subjective statement because your years of schooling argument was denied by PhD salaries. I take it you or your significant other are physicians. The lack of a rational response denotes an emotional conflict of interest.
If the market dictated the costs I would be fine with it. But the US Taxpayer and future taxpayers subsidize the entire system, which enriches people not based on the value their service provides but with a large government subsidy. Ironically the additional 50% physicians in the US make is similar to the breakdown of US government spending as a component of total healthcare spending. (Approx 15% of GDP is devoted to healthcare, with consumer spending around 9% and government around 6%)
I agree, the AMA often works in a cartel like fashion to preserve their own worth. But what professional organization would ever shoot their golden goose. If you think the medical school shortage is extreme, then take a look at the dental school shortage. Dentists nowadays get paid higher than the average physician due to this.
The American Dental Association learned from the AMA and now does much of the same. Also with CHIP programs in Texas, dentists in the ghetto seem to always max every kid out at around $1300 in taxpayer dollars a year no matter what happens. And about shooting their golden goose? That is a golden goose that is made from robbed gold from every American. Its the equivalent of forcing everyone to pay Whole Food Market prices because there are not other grocery stores. I'm sure most Americans would rather spend money on themselves then subsidize the 9 of 10 highest paid profession in America.
The short answer is: Yes, many doctors are paid too much. However, keep in mind that doctors are in serious debt, often $250,000 or more when they finish medical school. Also, doctors pay a huge premium for malpractice insurance, and it only takes one successful lawsuit to ruin their career. Having said that, there are many arrogant, over paid doctors that are indifferent to their patients.
The Average debt post law school and or MBA or PhD program is well into the six figures now days so that is more a facet of educational inflation which also has some roots in regulatory overreaching. Most people coming out of the Art Institutes have over a hundred thousand dollars of debt thought their income post is only $40 to $50 thousand. The ROI component has faltered for all education, but at least physicians have the income (and actual employment opportunities because of the shortages!) relative to most. The income figures are net of Malpractice Insurance premium costs.
If people in the military are supposedly at the lowest end of the IQ scale, why are they better educated than the general population? http://www.huffingtonpost.com/2012/09/11/military-education-infographic_n_1873842.html
I was referring to this study where the US Army had resorted to lowering recruitment standards in more recent years. http://www.slate.com/articles/news_and_politics/war_stories/2008/01/dumb_and_dumber.html I would surmise the military folks are better educated due to the free education benefits they receive for having served.
Great point Rocketman1981 - one almost never hears the whiney liberals discussing an overhaul of the for-profit medical system that inflates these salaries.
LOL, we had one of these discussion a couple of years ago. You want to cut med costs? Look at the damn insurance companies and hospitals. I worked my ass off and graduated close to the top of my class in college, am currently in med school pilling up debt, will make close to 45k while working 80hr weeks for 5 yrs in residency before I start "earning." Yea lets get outraged at doctors. I mean, hospitals marking up the price of Aspirin to $5 a tab and anasthesia/oxygen in the same manner is nothing to be angry about right?
