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Take home pay for physicians represents about 10% of healthcare spending (http://economix.blogs.nytimes.com/2008/11/14/do-doctors-salaries-drive-up-health-care-
by sxg 10y ago
Take home pay for physicians represents about 10% of healthcare spending (http://economix.blogs.nytimes.com/2008/11/14/do-doctors-salaries-drive-up-health-care-costs/ http://economix.blogs.nytimes.com/2008/11/14/do-doctors-sala...). On top of the cost of 4 years of college, you've got 4 years of medical school (average med student debt is $167k - http://www.cbsnews.com/news/1-million-mistake-becoming-a-doctor/ http://www.cbsnews.com/news/1-million-mistake-becoming-a-doc...). On top of that, you've got 3-7 years of residency where residents barely make $50k/year while working ~80 hours/week (this is a reduction from ~120 hours/week after regulations were passed). Becoming a doctor is expensive, requires massive sacrifices in time, and doctors don't earn their full salaries until almost a decade after most people start their careers. It doesn't seem like physician salaries are a clear cut problem.
- autokad 10y agoengineers barely make more than a doctor in residency. virtually no engineer on earth makes as much as any doctor after residency. i dont know about you, but i pulled 80+ hour weeks working, studying, and skill training to get myself where I am today. If I am lucky, and If I spend nights reading code interview books, practicing my skills, maybe I'll get a great job at google/facebook after 4 interviews and some connections making 1/3 - 1/2 as much as an average doctor.
- sxg 10y agoI'd be more inclined to buy your argument if you supported it with evidence. Also we're talking about the impact of physician salaries on healthcare spending. Engineer salaries aren't relevant in this discussion.