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At the same time doctor's income is actually decreasing. So America has a lot of parasitic Capitalists adding little value but sucking billions of dollars out o
by x5n1 11y ago
At the same time doctor's income is actually decreasing. So America has a lot of parasitic Capitalists adding little value but sucking billions of dollars out of the system. This sort of Capitalism does no one any good. A lot of that money is being sucked out by regulatory capture.
Spending more money will lead to yet more money being lost to the same parasites which will simply find ways of increasing their ability to leech money from the system.
- maxerickson 11y agoIt's likely that doctors earning less is an important component of reducing heath care costs in the US. Of course we should try to make that happen by increasing the supply of doctors rather than mismanagement.
- jessriedel 11y agoDoctors make up less than 9% of total health care spending. The idea that you're going to make a dent in spending by cutting doctor salaries further is insane. They are the only fully knowledgable people in hospital, and because they are so overloaded they are making thousands of key decisions everyday in a rush. It's already conventional wisdom that you can't make nearly as much money as a doctor as you use to, and so the best and brightest students are skipping it for more lucrative fields. This damage will take decades to be undone, even if we were to raise salaries immediately, because of the long training.
- maxerickson 11y agoYeah, I said we should work to increase the supply of doctors, not that we should fix their compensation. Reducing the undergraduate requirement and subsidizing medical school would both be reasonable ways to do that.
- jessriedel 11y agoReducing the undergraduate requirements does not seem like a very good way to reduce spending without decreasing quality.
- maxerickson 11y agoMed school admissions require a small number of classes and then consider GPA and MCAT scores. I don't expect 2 years of GPA to be much less informative than 4 or 5 years of GPA.