4 ms·
With respect - you are comparing apples vs oranges. You are comparing independent/priv-practice doctors vs salaried technologists. If you had an independent c
by TuringNYC 10y ago
With respect - you are comparing apples vs oranges. You are comparing independent/priv-practice doctors vs salaried technologists. If you had an independent contractor technologist, they also have to eat all the overhead (Liability insurance, E&O insurance, benefits, office, supplies.) Similarly, if you have a doctor working at the hospital, just like a salaried technologist they don't have to pay the overhead.
To be fair, doctors' overhead is higher for certain practices, but remember that facility fees can be billed back to the insurance or directly to the patient and even sent for collection. Those are extra fees on top of the doctor's pay -- essentially a form of rent forwarded to the patient for the doctor's facility costs.
Finally, we're not comparing tech salaries to other industries, we're comparing them to doctors. I've rarely seen doctors face a 2001 market crash or 2008 market crash and mass unemployment or had their entire training wiped out when JE22 went south. Tech is very volatile. Also consider that doctors generally make more as they age, whereas technologists often face increasing age discrimination. Yes, MLK in LA and St Vincent's in NYC did shut down, but have you ever seen the equivalent of a Lucent or Lehman or IBM or Intel in medicine? Rare...
You are right that I don't practice medicine, but I work 75hrs a week in hospitals since my startup sells to hospitals. I've seen the relative function and dysfunction of both American and single-payer overseas systems. And BTW, i pay gigantic liability insurance bills for my diagnostic technology product , and it effectively comes out of my salary.