I talked a week or two ago about how doctors get paid by the insurance companies, but yesterday, someone started spouting off around me about "overpaid doctors," and how rediculous doctors' rates are, and so I'm back around the topic. Just a little rundown on the cost of doing business. We're gonna take out a gallbladder, and then follow the money. So get out your calculators, and follow the bouncing bill.
My charge: $2200
Medicaid pays: $1000 (-$1200)
Office costs: ~50% (-$500)
Malpractice: $100 (-$100)
My Income Tax: ~35% (-$140)
Total: $260
Hours/Pt: 4hrs
equals: $65/hr
Hell, I can make that working on the assembly line! And I didn't include in that the monthly payments on my student loans, which is equal to the mortgage on a nice 3-4 bedroom, 3 bath home.
It amazes me that Americans are willing to pay to watch somebody play baseball, football, basketball, etc, for millions of dollars per year, or shell out $10 a ticket for a movie with an actor/actress making$20 million dollars per movie, but they think that their doctor is overpaid, even though s/he has at least 7 yrs of education beyond college, at a cost of roughly $100,000, and is available 24 hrs a day, 7 days a week, 52 weeks a year.
There is a constant buzz in the hallowed halls of congress, and elsewhere, about the Right to Healthcare. Could someone please point out for me the specific text in the declaration of Independence, the Constitution, or some other founding document, where this is specified? I found, right up front in the first 10 amendments, the right to legal representation, but I don't see anyone working to control the cost of legal care --Hell, I sure can't afford a lawyer, not on my pay. I also see, in the Declaration of Independence, the Right to the Pursuit of Happiness. As I took my hippocratic oath, did I surrender this Right in exchange for the care of my patients?
Oh, well, it has become late, I was up early, and spent 10 hrs in the OR, I'm gonna hit the sack, tomorrow is another day.
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You have a great blog -- it is fun to read and helps us non-medical folks understand your world.
ReplyDeleteHowever, on this one I think you lose a little credibility by stretching the issue. That is, it is not cricket to deduct taxes from your hourly receipts from your practice. Everybody pays taxes -- you might be in a higher bracket but that is beside the point. Therefore your hourly income (based on the information you provided) as most people would view it is about $100 per hour. That isn't exceptionally high especially, as you point out, that you are on call 24/7 (although probably not 52). Also the average factory worker doesn't come close to $65 per hour. At the GM plant the production guys get about $28 and they also have to pay their income taxes, Social Security, etc. They have, in the past, gotten a lot of vacation, sick leave, and good medical coverage but that is pretty much beside the point -- at least the way you presented your case.
Keep up the good work!