Lower Healthcare Costs – Raise Physicians’ Pay

J. was thinking [not too deeply] on the way home today about rising healthcare costs and the attempt to keep them low. And all of a sudden, the inspiration came to him based on politician pay hikes.

To lower healthcare costs…
Give doctors in the public sector higher pay. They should peg the salaries to the equivalent in the private sector.

If doctors were all paid [a lot] more (surely fair given the shitty hours most physicians work), there would be no (instead of the current low) incentive to prescribe unnecessary treatments or more expensive medications to make money.

There would be less need to accept gifts and trips from drug reps which raise drug prices by causing the companies to spend more on advertising.

What you worry about is not a younger doctor taking in $8,000 a month, but a younger doctor taking in $3,000 a month and taking in $30,000 under the table (drug advertising, biased prescriptions/investigations).

Furthermore, do we want an exodus of talented physicians to the private sector? If we are to attract and keep the top medical talent in public hospitals, we should be willing to pay… all the way from when they are young doctors until they are senior consultants.

It makes perfect [cow] sense! J. concurs.

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2 responses to this post.

  1. To Whom it May Concern,

    Very interesting and insightful thoughts. I would be extremely appreciative for an opportunity to talk with you and show you what I (and the AMA) believe to be a very valuable service for Providers and Consumers.

    I can (in just a few key-strokes) show you what any Physician, in any Specialty, and in any Zip Code within the U.S. currently gets paid by managed-care companies.

    I am at your disposal, night or day, at 512.246.8158 – home, 512.787.1852 – Cell.

    Thank you and make it a great day.

    Dana

    Reply

  2. Thank you kindly. This post is actually not really insightful.

    This post was actually in response to the 60% pay rise for ministers in Singapore to a level that the Prime Minister in Singapore gets 5 times the pay of the President of the United States of America.

    Almost all the arguments here are [slightly] modified from those used (by the politicians) to justify their pay raises.

    Another one would be, “If a top surgeon had gone into business last time instead of medicine, he would easily have made billions of dollars, and all he had to do was to invest. It’s easy! If he fails, it’s not lives at hand, it’s money.”

    Can you imagine if these top surgeons hadn’t gone into medicine. People’s lives, precious as they are, might have been lost! So those people that say that surgeon’s salaries shouldn’t be pegged (say… 50%… so 2 million) to those of top earners (say they earn 4million) don’t know what they’re talking about and should get a reality check.

    Reply

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