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Effect of Obamacare on doctor salaries?
Posted on 10/26/10 at 7:07 pm
Posted on 10/26/10 at 7:07 pm
will doctors' pay go up or down?
5
Posted on 10/26/10 at 7:26 pm to benhamin5555
Down. there is about to be a big increase in Medicaid.
Posted on 10/26/10 at 8:20 pm to tigerskin
Docs pay won't go down. Their staff size and patient care will suffer tho.
Posted on 10/26/10 at 8:28 pm to guttata
My wife manages a practice with 35 doctors. It is going to fall. That being said, they make really good money.
Posted on 10/26/10 at 8:41 pm to LSUwag
quote:
That being said, they make really good money.
Posted on 10/26/10 at 8:43 pm to guttata
quote:
Docs pay won't go down. Their staff size and patient care will suffer tho.
I'm leaning this way.
Posted on 10/26/10 at 9:15 pm to EOT
They will find a way to try and make as much money but their visits will be shorter and they will see more patients/do more work. This is going to be more prevalent in primary care/internal medicine.
Posted on 10/26/10 at 9:21 pm to benhamin5555
I know a doctor in town that was an internist ... closing his office and will now be an ER doc ... I'm ASSUMING that he sees changes coming with Obamacare and doesn't like them. He'd probably prefer shift work and a regular paycheck without the overhead of a staff and office and liab. ins. etc.
Posted on 10/26/10 at 9:36 pm to LSUwag
Sure, doctors "make good money" but with with extra 4 years in school, 3+ years of residency, they don't start making money until they are 30, and usually have a 100k student loan to pay back.
Posted on 10/26/10 at 9:39 pm to Ric Flair
quote:
100k student loan to pay back
The good ole days, try 200+ now
Posted on 10/26/10 at 9:47 pm to LSUwag
quote:
That being said, they make really good money.
They probably "make really good money" compared to your wife and most of everyone else including me. But, is it good enough to take on a ton of school debt and kill yourself in college? Then kill yourself with paper work and Obamacare bureaucracy for the rest of your life?
Who knows? Like Nancy said we will figure out the details after the bill is passed.
Posted on 10/26/10 at 10:16 pm to Tigerpaw123
quote:
The good ole days, try 200+ now
not at some places. LSU Med School is about 15k a year. Add on other expenses, and no way is it over 95-100k for four years.
This post was edited on 10/26/10 at 10:17 pm
Posted on 10/27/10 at 12:36 am to LSUwag
Define good money.
Posted on 10/27/10 at 12:49 am to siliconvalleytiger
quote:
Define good money.
Not as good as finance.
Posted on 10/27/10 at 6:33 am to LeonPhelps
In small rural area were a majority of patients are Medicare, most doctors will struggle. The Medicare "doctor fix" has not been renewed, while at the same time Medicaid reimbursement just got slashed 20%. Essentially what we are seeing is Medicare turning into Medicaid before the 20% cuts. Now understand that most doctors practices only have 20-40% insurance patients. Yea, some doctors with large insurance patient practices will make it and the algorithm for how doctors are reinbursted by Medicare might finally get resolved but doctors are not betting on it.
The office overhead and new mandates with electronic records ect. got them moving to ER or other specialties. I predict over 1/2 the U..S. doctors will be working for hospitals or goverment by 2014. See the way Obamacare works is the hospitals receive all the money or big chunks of payments and then it is reallocated through the hospital.
The office overhead and new mandates with electronic records ect. got them moving to ER or other specialties. I predict over 1/2 the U..S. doctors will be working for hospitals or goverment by 2014. See the way Obamacare works is the hospitals receive all the money or big chunks of payments and then it is reallocated through the hospital.
Posted on 10/27/10 at 6:54 am to pnut53088
quote:
LSU Med School is about 15k a year. Add on other expenses, and no way is it over 95-100k for four years.
You want to try that again?
From LSU Med School Page --
quote:
Scholarships and Financial Aid
YEARLY STUDENT EXPENSES
Tuition cost: $14,240*
Non-resident tuition: $31,027*
Books and Supplies: $2,819
Computer: $2,073
Other Fees $1,100
Off-campus living expenses: $17,739**
Health Insurance: $1,751
So, in-state students are looking at about $38K per year (+$2K for computer first year). Over four years, that $154K.
And, although I realize very few out-of-state students get into LSU, you can add another $68K for out-of-state, making that $222K for out of state.
So, to go to a public Med School will cost $154K-222K, depending upon whether you're lucky/smart enough to get into your state school.
This post was edited on 10/27/10 at 10:40 am
Posted on 10/27/10 at 9:33 am to benhamin5555
quote:Many variables. e.g., To what extent will ObamaCare actually be enacted? Which portions will remain? Which portions won't?
Effect of Obamacare on doctor salaries?
will doctors' pay go up or down?
Short answer: MD pay will probably fall off in most cases.
It's a complicated question though.
To be factual, albeit perhaps controversial, the intent of ObamaCare is to drive patients out of private insurance and into government controlled co-opts. Effort in these instances will be to run MD reimbursement through the floor. However, equilibrium usually develops between radical social goals and pragmatism (i.e., who's going to go into medicine if compensation sucks).
So in the long run it's hard to predict the extent of the effect on MD pay. We aren't currently far off many European models in terms of MD pay anyway. So that might also limit the push downward. Nonetheless, risks are there.
Posted on 10/27/10 at 10:02 am to NC_Tigah
quote:
Short answer: MD pay will probably fall off in most cases.
NC, the issue I can't predict is, if you're correct and MD's compensation declines, at what point will prospective med students say "Fu@k it! I'm not going through all this work!" resulting in a drastic decline in the number of primary care physicians.
Could this be one of those unintended consequences cases where the quality of medical care declines a LOT just because there will be fewer practitioners in the medical field?
(I'll go ahead and insert kfizz's comment: "wrong board.")
Posted on 10/27/10 at 10:10 am to Newbomb Turk
quote:
So, in-state students are looking at about $38K per year (+$2K for computer first year). Over four years, that $154K.
Facts.
Posted on 10/27/10 at 10:39 am to LeonPhelps
Of course, if you can't get into LSU, you can always opt for Tulane Medical School. That will only set you back about $290K --
quote:
2010-11 First Year (for the 10 month period of enrollment)
Tuition/Fees: - $50,959
Room/Board: - $12,948
Books /Supplies - $ 1,500 Transportation - $ 2,998 Miscellaneous: - $ 3,924**
TOTAL - $72,329
2010-11 Second Year (for the 8 month period of enrollment)
Tuition/Fees: - $50,959
Room/Board - $10,106*
Books/Supplies: - $ 1,500
Transportation: - $ 2,338
Miscellaneous: - $ 3,578**
TOTAL - $68,481
2010-11 Third Year (for the 14 month period of enrollment)
Tuition/Fees: - $50,959
Room/Board: - $18,320*
Books/Supplies: - $ 750
Clinical Skills Exam Fee - $ 1,550
Transportation: - $ 4,238
Miscellaneous: - $ 4,576**
TOTAL - $80,393
2010-11 Fourth Year (for the 10.5 month period of enrollment)
Tuition/Fees: - $50,959
Room/Board: - $12,250*
Books/Supplies: - $ 150
Clinical Skills Exam Travel - $ 500
Transporation: - $ 2,834
Miscellaneous: - $ 3,842**
TOTAL - $70,535
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