Recession Affecting Docs in US ?
A family medicine doc practicing in Mississippi since 40 years has seen a 30% drop in his income, caused by a 50% drop in his patient traffic in this 2007-2008-2009 recession season, as reported in this article.
True that people are cutting back on almost everything including cancer screenings, which has the cancer docs all worried, not only about income but also about missing cancers at an early stage, which could cost the patients more later like this article reports.
And apparently, even doctor/s attended this Monster.com recuitment event for the jobless in NY, according to this news article.
Lol..no I am not in a depressed mood to blog about this, just to stress that physicians are not recession proof and that they need to step up based on market environments. Offering patients cheaper care (Generics, timely screening, evidence-based decisions), Better timed care (weekend clinics, afterhour clinics rather than when most people are working) and easier access (eg. adding online access for rapid after-hours consulting with upfront low fees) and better payment systems (upfront fees, attracting insured patients, etc.) are some ways..and also maybe a thought to these extra income ideas ;-). Read some more on this Medscape Article: "Economic Blues Trickle Down to Physicians"
Well, recession might make MD incomes drop to different extents depending on specialty, state and type of practice, but its still tough to imagine an unemployed physician in the US. There is always demand for healthcare, even though the amount people will pay may change. Ain't that bad yet, like wrote a few days earlier, at least primary care medical residents still find it very easy to find a job.
True that people are cutting back on almost everything including cancer screenings, which has the cancer docs all worried, not only about income but also about missing cancers at an early stage, which could cost the patients more later like this article reports.
And apparently, even doctor/s attended this Monster.com recuitment event for the jobless in NY, according to this news article.
Lol..no I am not in a depressed mood to blog about this, just to stress that physicians are not recession proof and that they need to step up based on market environments. Offering patients cheaper care (Generics, timely screening, evidence-based decisions), Better timed care (weekend clinics, afterhour clinics rather than when most people are working) and easier access (eg. adding online access for rapid after-hours consulting with upfront low fees) and better payment systems (upfront fees, attracting insured patients, etc.) are some ways..and also maybe a thought to these extra income ideas ;-). Read some more on this Medscape Article: "Economic Blues Trickle Down to Physicians"
Well, recession might make MD incomes drop to different extents depending on specialty, state and type of practice, but its still tough to imagine an unemployed physician in the US. There is always demand for healthcare, even though the amount people will pay may change. Ain't that bad yet, like wrote a few days earlier, at least primary care medical residents still find it very easy to find a job.
Got some articles / news to share on this topic ? Drop me a comment !
 Digg! |
|
 Facebook ! |
|
 Forum!
|
posted by Digitaldoc, MD at 8:44 PM
Comments on "Recession Affecting Docs in US ?"
-
Destiny said ... (3/09/2009) :
-
Anonymous said ... (3/16/2009) :
-
Chase said ... (4/16/2009) :
-
Anonymous said ... (4/30/2009) :
-
Anonymous said ... (5/03/2009) :
-
Anonymous said ... (5/13/2009) :
Post Your Comment !With this recession, we must be more concerned for the patients because one can never be too early in diagnosing a sickness, cancer, etc. if patients continue to skip Appointments they are putting themselves in danger. we must bring this matter to public notice for the welfare of the patients.
Destiny, I bet you are living under the blind assumption (government likes it)that economies do not change health care choices of other countries.
Well they do and if you take some time to research you will find that a lot of countries use the word crisis next to their plan definitions.
McKinsey Quarterly, May 2008
"People think Japan is a model plan but Japan, like many other economically advanced countries, faces mounting health care expenses that will be difficult to support using current methods. MGI research suggests health care spending in Japan could double as a proportion of GDP within 30 years, with advances in medical technology, growing wealth, and demographic changes driving the increase. The financing gap is so large that policies on which Japan has relied in the past, such as increasing co-payments, will not be sufficient to close it."
World Bank Institute - Public Health Insurance in Japan
by Tetsuo Fukawa
"Large employers may provide some preventive care
Health insurance covers little preventive care.
It provides only cash payment for normal pregnancy because pregnancy is not considered an illness in Japan.
1.Amenities in hospitals are far inferior to those in other developed countries.
2.A significant but uncounted number of services are not reimbursed by sickness funds.
3.Uncounted services may not be included in national health expenditure calculations.
4.Families often help with nursing in hospitals.
5.There are also some under-the-table payments to physicians for favors such as special attention and treatment, and quick admission.
6.The health plan pays relatively little attention to preventive care.
Moreover, we cannot continue to increase patient cost-sharing. The next step might be the introduction of selective benefit. In this scenario, insurance coverage would be classified into two categories: basic benefit and selective benefit. A higher contribution would be required to receive the selective benefit."
Addressing Japans Health Care Cost Challenge McKinsey Quarterly.html
"31 October 2006 - Governments around the world are looking to expand the role of private insurers as a source of funding the delivery of healthcare, according to a new report issued today by Price waterhouse Coopers. The report entitled “Healthy Choices: The Changing Role of the Health Insurer,” forecasts that the threat to governments’ fiscal objectives from rising public sector health expenditures will drive the expansion of private sector contributions, and this trend will reshape the health insurance business model globally"
An individuals economies of scale will change their health care choices.
Even in State run systems lower tax collections create changes:
"German Health System Not Quite in Intensive Care
Right now, the system is supported for by contributions from workers, who generally pay around 14 percent of their wages for health care. But Germany's stubbornly high unemployment rates have meant less money is going into the system.
Uninsured in Germany has risen above the 200,000 mark, with some suggesting that number could reach as high as 250,000.
Germany will be applying higher co-payments and more services will not be covered by insurance plans in the future"
http://www.dw-world.de/dw/article/0,2144,1973312,00.html
http://www.reformplans.com/Features-and-Opinion/Addressing-Japan-s-Health-Care-Cost-Challenge-McKinsey-Quarterly.html
http://unpan1.un.org/intradoc/groups/public/documents/APCITY/UNPAN020063.pdf
Digitaldoc, if you are indeed an MD, do you not remember the tremendous time and stress of your training! Now you talk about adding afterhours and weekends! When would we sleep! No one would want to go into healthcare. This country is ridiculous in assuming it is always the responsibility of the physician if people don't get adequate healthcare!!! Some people can't afford it, can't get there, or just don't want to thinking they can sue someone later! Other options such as paid time off for doctor visits as a mandatory compensation, public transportation specifically to healthcare institutions, and donations from drug companies for generic medications would allow a "team" effort to improve healthcare, and not lay the sole responsibility on the physicians, who have already given so much to help people who are taking advantage of them.
We should start taking responsibility for ourselves, instead of waiting for someone to hold our hands. Americans have become socioeconomically lazy. Physicians are providing a huge sacrifice in their own lives for social services to people who don't take any initiative at all.
5% of US population is swallowing 40% of the world's pilss, if not more. Most people will do better without all these expert physicians.
If everyone goes to a better life style, a major portion of the US doctors will be unemployed.
i agree completely with chase
"5% of US population is swallowing 40% of the world's pilss, if not more. Most people will do better without all these expert physicians.
If everyone goes to a better life style, a major portion of the US doctors will be unemployed."
I hope then that you never have to have experience with how much you really do need these "expert physicians", or you will find you are sadly mistaken. Enjoy the easy world then while the rest of us responsible citizens make this world a better place for you.
Genetics and viruses don't are what type of lifestyle you are living.