Americans should be more thoughtful before pinning healthcare costs to physicians, as they, too, have a "tough row to hoe," according to a recent column in USA Today.
The column was written by Sally C. Pipes, president and CEO of the Pacific Research Institute, a San Francisco-based think tank. Ms. Pipes said physicians contribute only 10 percent to the nation's healthcare bill, and their salaries are not as excessive as they seem.
Physicians' salaries reflect their extensive education and loans accumulated through school, which can take more than 20 years to pay off. After physicians complete their education, they continue to balance a workload equivalent of 1.5 full time jobs, according to Ms. Pipes. Additionally, nearly half of physician income goes towards practice maintenance such as overhead costs, licenses, certification and medical malpractice insurance.
Ms. Pipes says Americans "can't afford to find out" what would happen if physicians' incomes fell, as it would demoralize physicians and discourage young people from entering the profession.
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The column was written by Sally C. Pipes, president and CEO of the Pacific Research Institute, a San Francisco-based think tank. Ms. Pipes said physicians contribute only 10 percent to the nation's healthcare bill, and their salaries are not as excessive as they seem.
Physicians' salaries reflect their extensive education and loans accumulated through school, which can take more than 20 years to pay off. After physicians complete their education, they continue to balance a workload equivalent of 1.5 full time jobs, according to Ms. Pipes. Additionally, nearly half of physician income goes towards practice maintenance such as overhead costs, licenses, certification and medical malpractice insurance.
Ms. Pipes says Americans "can't afford to find out" what would happen if physicians' incomes fell, as it would demoralize physicians and discourage young people from entering the profession.
Related Articles on Physicians and Healthcare Costs:
42% of Primary Care Physicians Say Their Patients Receive Too Much CarePoll: Fear of Lawsuits Drives Number of Tests Ordered for 44% of Emergency Physicians
Neurosurgeons Face Most Malpractice Suits, But Gynecologists Have Highest Payment Rate