Comments on: Physician Salaries on the Decline http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/ my journey through medical school Fri, 10 Feb 2012 01:28:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: remove Best Malware Protection http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/comment-page-1/#comment-1271 remove Best Malware Protection Thu, 24 Mar 2011 20:06:00 +0000 http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/#comment-1271 Physicians don't need to worry about salaries. Physicians don’t need to worry about salaries.

]]> By: Jeff W http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/comment-page-1/#comment-1264 Jeff W Sun, 06 Feb 2011 23:43:00 +0000 http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/#comment-1264 Thanks for your comment. I assume it is in response to my post than to any one commenter in particular. You are correct in that a new med student should be motivated by humanity and caring for a patient. However, practicality must also be considered. Again, I'll reiterate what I wrote in the post above. The declining salaries will drive individuals who would make brilliant physicians into more lucrative fields like business, law, etc. I felt this was clear in what I wrote. Also, you help to illustrate one very important point -- that the public's perception of a physician's salary is very wrong. Sure, there are some physicians that are millionaires. But this is not the case with your average doctor. And this notion of the wealthy physician may be a holdover from times passed. I won't bother writing out a detailed analysis of the cost of education and the income a doctor makes out of medical school. This has been done ad nauseam by others more eloquent than I. Instead, I will provide a couple links for your perusal. The first link is a post by Dr. Benjamin Brown who writes a detailed analysis (with sources) discussing the hourly wage of an average doctor and average school teacher over the course of a career: http://benbrownmd.wordpress.com/2010/06/20/informedconsent/ The second link is a YouTube video (approximately 1 minute in length) regarding finances of an average physician: http://www.youtube.com/watch?v=d4MA47I5U38 Thanks for your comment. I assume it is in response to my post than to any one commenter in particular.

You are correct in that a new med student should be motivated by humanity and caring for a patient. However, practicality must also be considered. Again, I’ll reiterate what I wrote in the post above. The declining salaries will drive individuals who would make brilliant physicians into more lucrative fields like business, law, etc. I felt this was clear in what I wrote.

Also, you help to illustrate one very important point — that the public’s perception of a physician’s salary is very wrong. Sure, there are some physicians that are millionaires. But this is not the case with your average doctor. And this notion of the wealthy physician may be a holdover from times passed. I won’t bother writing out a detailed analysis of the cost of education and the income a doctor makes out of medical school. This has been done ad nauseam by others more eloquent than I. Instead, I will provide a couple links for your perusal.

The first link is a post by Dr. Benjamin Brown who writes a detailed analysis (with sources) discussing the hourly wage of an average doctor and average school teacher over the course of a career: http://benbrownmd.wordpress.com/2010/06/20/informedconsent/

The second link is a YouTube video (approximately 1 minute in length) regarding finances of an average physician: http://www.youtube.com/watch?v=d4MA47I5U38

]]> By: Shawnweb0118 http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/comment-page-1/#comment-1263 Shawnweb0118 Sun, 06 Feb 2011 17:16:00 +0000 http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/#comment-1263 Hmm.. I thought the main motivation for a new med student is humanity and caring for the patient? Who isn't taking a pay cut? Yes, medical malpratice insurance is high and low insurance reimbursements. Doctors still, profit over 100+ thousand/ year. That's not good money? Please, crying is useless. Most of the time, your talking to the doctor for 1 or 2 mins. He or she writes the prescription and says goodbye. Hmm.. I thought the main motivation for a new med student is humanity and caring for the patient? Who isn’t taking a pay cut? Yes, medical malpratice insurance is high and low insurance reimbursements. Doctors still, profit over 100+ thousand/ year. That’s not good money? Please, crying is useless. Most of the time, your talking to the doctor for 1 or 2 mins. He or she writes the prescription and says goodbye.

]]> By: John Crick http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/comment-page-1/#comment-1257 John Crick Fri, 31 Dec 2010 05:50:00 +0000 http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/#comment-1257 Physician salaries are certainty not the deciding factor for patients well-being and yet, you seem to propose that it may be the only one. The American lifestyle and diet, among numerous other factors, are both extremely toxic and detrimental to national health. Also, to reinforce the important point the article made, higher salaries create more competition for those looking to get into a career, which baits more of your brightest college students to the medical graduate programs of the nation. As a college student currently finishing up my premed, I'm rather offended at how shallow you think doctors have come to be concerning their income. Medicine is not a career that is solely based around money for those who assimilate into it. I'm rather confident of the intellectual abilities of students who are capable of getting into med-school programs, and finishing them. These students are the students with the most skillful resources and drive that hold the greatest potential to earn a disgusting income in this gross capitalistic society we live in. But what is truely more honest than the care of a doctor at that income level? Expanding on that, it may take 12 years to finish the production of a doctor who may walk out 150k in debt to his school, however it may take less than a year to complete a successful Chinese mass-production run of "The Snuggie." Which ethics do you want your country to foster? What do you want your country to invest in? What value do you place on higher education? How can you be serious? Physician salaries are certainty not the deciding factor for patients well-being and yet, you seem to propose that it may be the only one. The American lifestyle and diet, among numerous other factors, are both extremely toxic and detrimental to national health. Also, to reinforce the important point the article made, higher salaries create more competition for those looking to get into a career, which baits more of your brightest college students to the medical graduate programs of the nation. As a college student currently finishing up my premed, I’m rather offended at how shallow you think doctors have come to be concerning their income. Medicine is not a career that is solely based around money for those who assimilate into it. I’m rather confident of the intellectual abilities of students who are capable of getting into med-school programs, and finishing them. These students are the students with the most skillful resources and drive that hold the greatest potential to earn a disgusting income in this gross capitalistic society we live in. But what is truely more honest than the care of a doctor at that income level? Expanding on that, it may take 12 years to finish the production of a doctor who may walk out 150k in debt to his school, however it may take less than a year to complete a successful Chinese mass-production run of “The Snuggie.” Which ethics do you want your country to foster? What do you want your country to invest in? What value do you place on higher education? How can you be serious?

]]> By: Emirates Jobs http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/comment-page-1/#comment-993 Emirates Jobs Wed, 07 Apr 2010 18:48:14 +0000 http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/#comment-993 well they must be given proper attention, because they are the one who are helping the person if he has an injury after and accident. even though they are still earning fairly. well they must be given proper attention, because they are the one who are helping the person if he has an injury after and accident. even though they are still earning fairly.

]]> By: Seriously? http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/comment-page-1/#comment-989 Seriously? Sat, 13 Mar 2010 09:37:16 +0000 http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/#comment-989 John,<br>Please get off the internet. John,
Please get off the internet.

]]> By: miamihippo http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/comment-page-1/#comment-975 miamihippo Fri, 08 Jan 2010 09:20:42 +0000 http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/#comment-975 john,<br>more residency slots are supported by the ama. Our government is the one not giving the additional funds to residency programs! Why is that? maybee bc we r too busy giving funds away to other countries.<br>your comment on 'US docs and inflated salaries'....hello, r u nuts have you even looked at the finances invested to become a doc... and the 10 years where you are basically bringing home minimum wage or working for free in a research position...<br>your next comment "nurses and pharm are competent to prescribe"--- do you want your mother to be prescribed meds for her uncontrolled diabetes by a 2 year RN who didnt even have to do a 3-5 year residency after her 'class room education'<br>what will solve the problem is if government pays for more residency positions.... more slots to FMG's and US grads..... may the best candidates earn the positions...there should not be different requirements for fmg verse the amg's. why should amg be allowed to score 70 and fmg must score 99... this is whats insane.... this is why health care will suffer in quality of care.... its not based upon how much you know, but who you know... and noone is regulating this..... signed, miss florida john,
more residency slots are supported by the ama. Our government is the one not giving the additional funds to residency programs! Why is that? maybee bc we r too busy giving funds away to other countries.
your comment on 'US docs and inflated salaries'….hello, r u nuts have you even looked at the finances invested to become a doc… and the 10 years where you are basically bringing home minimum wage or working for free in a research position…
your next comment “nurses and pharm are competent to prescribe”— do you want your mother to be prescribed meds for her uncontrolled diabetes by a 2 year RN who didnt even have to do a 3-5 year residency after her 'class room education'
what will solve the problem is if government pays for more residency positions…. more slots to FMG's and US grads….. may the best candidates earn the positions…there should not be different requirements for fmg verse the amg's. why should amg be allowed to score 70 and fmg must score 99… this is whats insane…. this is why health care will suffer in quality of care…. its not based upon how much you know, but who you know… and noone is regulating this….. signed, miss florida

]]> By: John http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/comment-page-1/#comment-779 John Tue, 23 Jun 2009 22:27:31 +0000 http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/#comment-779 Medical doctors in the United States enjoy appallingly inflated salaries. I attribute this problem primarily to the AMA, an institution which effectively enforces a chronic supply shortage in addition to unnecessary demand. The educational system is strangled by the withholding nature of the AMA, which prevents universities from properly responding to the enormous demand for training slots. This environment prevents equilibrium from occurring. Prescribing has been monopolized in spite of the fact that nurses and pharmacists are unquestionably competent enough to grant drugs in certain instances. Well-trained foreign doctors are subjected to unnecessarily lengthy re-training programmes. I could easily continue. Minimizing entrance barriers and burdensome regulations would resolve most of the problems we're witnessing in the medical system. Medical doctors in the United States enjoy appallingly inflated salaries. I attribute this problem primarily to the AMA, an institution which effectively enforces a chronic supply shortage in addition to unnecessary demand. The educational system is strangled by the withholding nature of the AMA, which prevents universities from properly responding to the enormous demand for training slots. This environment prevents equilibrium from occurring. Prescribing has been monopolized in spite of the fact that nurses and pharmacists are unquestionably competent enough to grant drugs in certain instances. Well-trained foreign doctors are subjected to unnecessarily lengthy re-training programmes. I could easily continue. Minimizing entrance barriers and burdensome regulations would resolve most of the problems we’re witnessing in the medical system.

]]> By: John http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/comment-page-1/#comment-1061 John Tue, 23 Jun 2009 22:27:00 +0000 http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/#comment-1061 Medical doctors in the United States enjoy appallingly inflated salaries. I attribute this problem primarily to the AMA, an institution which effectively enforces a chronic supply shortage in addition to unnecessary demand. The educational system is strangled by the withholding nature of the AMA, which prevents universities from properly responding to the enormous demand for training slots. This environment prevents equilibrium from occurring. Prescribing has been monopolized in spite of the fact that nurses and pharmacists are unquestionably competent enough to grant drugs in certain instances. Well-trained foreign doctors are subjected to unnecessarily lengthy re-training programmes. I could easily continue. Minimizing entrance barriers and burdensome regulations would resolve most of the problems we're witnessing in the medical system. Medical doctors in the United States enjoy appallingly inflated salaries. I attribute this problem primarily to the AMA, an institution which effectively enforces a chronic supply shortage in addition to unnecessary demand. The educational system is strangled by the withholding nature of the AMA, which prevents universities from properly responding to the enormous demand for training slots. This environment prevents equilibrium from occurring. Prescribing has been monopolized in spite of the fact that nurses and pharmacists are unquestionably competent enough to grant drugs in certain instances. Well-trained foreign doctors are subjected to unnecessarily lengthy re-training programmes. I could easily continue. Minimizing entrance barriers and burdensome regulations would resolve most of the problems we’re witnessing in the medical system.

]]> By: Not a Doctor http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/comment-page-1/#comment-777 Not a Doctor Wed, 10 Jun 2009 17:26:29 +0000 http://www.jeffreymd.com/2007/12/08/physician-salaries-on-the-decline/#comment-777 I was seriously considering pursuing a career as a doctor until I started having conversations with extended family members in the profession. The amount of bitter you have to eat is amazing. The factors that were important to me in deciding not to become a physician were the following: extremely long work hours (50-70/week) and being on call, the brutality of residency (100+ hour work weeks, low pay, and the system used to assign residencies), the debt (it almost necessitates going for a high paying specialty), and the rising fraction of time spent dealing with bureaucracies (as opposed to time spent on patient care). I was most interested in family practice or endocrinology and was told flat out that I might have difficulties making ends meet. They all said they loved working in medicine, but that becoming a physician’s assistant or looking into medical physics (physics was my undergraduate major) might both be better options. The last nail in the coffin was the impending socialization of medicine. The idea of universal coverage is laudable and likely inevitable. However, there is a significant risk that physicians will be subjected to pay cuts and greater bureaucratic intervention. For now, I’m putting the idea of becoming a doctor on hold and looking at other options. I was seriously considering pursuing a career as a doctor until I started having conversations with extended family members in the profession. The amount of bitter you have to eat is amazing. The factors that were important to me in deciding not to become a physician were the following: extremely long work hours (50-70/week) and being on call, the brutality of residency (100+ hour work weeks, low pay, and the system used to assign residencies), the debt (it almost necessitates going for a high paying specialty), and the rising fraction of time spent dealing with bureaucracies (as opposed to time spent on patient care). I was most interested in family practice or endocrinology and was told flat out that I might have difficulties making ends meet. They all said they loved working in medicine, but that becoming a physician’s assistant or looking into medical physics (physics was my undergraduate major) might both be better options. The last nail in the coffin was the impending socialization of medicine. The idea of universal coverage is laudable and likely inevitable. However, there is a significant risk that physicians will be subjected to pay cuts and greater bureaucratic intervention. For now, I’m putting the idea of becoming a doctor on hold and looking at other options.

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