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You just need to look at an EoB statement to realize the sheer volume of revenues earned by Residents (thought not retained by residents). They are huge profit
by TuringNYC 3y ago
You just need to look at an EoB statement to realize the sheer volume of revenues earned by Residents (thought not retained by residents). They are huge profit centers for the medical system with millions in earned revenue annually.
Medicare does not need to pay for residents, they are massively net positive revenue. The AMA boards create artificial scarcity and "medicare" is the boogeyman word.
- ethbr1 3y agoBut if those residents were paid by hospitals, they wouldn't be huge profit centers. Or, to put it another way, if hospitals have difficulty balancing the books with free resident labor, adding additional paid residents wouldn't necessarily fix the financial problem in most hospitals.
- TuringNYC 3y ago>> But if those residents were paid by hospitals, they wouldn't be huge profit centers. Paying residents is not the blocker here, Residents are already paid by hospitals. They are paid a fraction of revenues, which is normal for any profitable business. https://www.ziprecruiter.com/Salaries/First-Year-Medical-Resident-Salary-in-New-York-City,NY https://www.ziprecruiter.com/Salaries/First-Year-Medical-Res...