Comments on: Capped fees for doctors http://www.kevinmd.com/blog/2007/03/capped-fees-for-doctors.html Tue, 14 Feb 2012 17:18:00 +0000 hourly 1 By: Anonymoushttp://www.kevinmd.com/blog/2007/03/capped-fees-for-doctors.html#comment-73627 Anonymous Wed, 04 Apr 2007 16:17:00 +0000 http://clients.emmense.com/kevinmd/2007/03/capped-fees-for-doctors.html#comment-73627 Nationally averaged Canadian physician net earnings in 2005:<br/> <br/>Dermatologists $240,000 <br/>Internists $$200,000 <br/>Ob/gyns $195,000 <br/>Pediatricians $160,000 <br/>Psychiatrists $160.000 <br/>GPs $155,000<br/><br/>source: http://www.nationalreviewofmedicine.com/issue/2006/10_15-30/3_PM_your_practice01_16.html<br/><br/>That's not bad at all. Why all the complaining?? Nationally averaged Canadian physician net earnings in 2005:

Dermatologists $240,000
Internists $$200,000
Ob/gyns $195,000
Pediatricians $160,000
Psychiatrists $160.000
GPs $155,000

source: http://www.nationalreviewofmedicine.com/issue/2006/10_15-30/3_PM_your_practice01_16.html

That’s not bad at all. Why all the complaining??

]]> By: Anonymoushttp://www.kevinmd.com/blog/2007/03/capped-fees-for-doctors.html#comment-73533 Anonymous Mon, 02 Apr 2007 01:55:00 +0000 http://clients.emmense.com/kevinmd/2007/03/capped-fees-for-doctors.html#comment-73533 "While perhaps not "astounding", it probably still puts you in at least the top 3% of Americans in terms of income, and top 1% of the world."<br/><br/>The lowliest working Americans are already in the top 10% of the world; heck even many of the illegal non-Americans working here in the top 10%. Considering the many years (30) I spent in the bottom 1% of the world before I had a paying job, I guess it all averages out to me being about in the middle over a 30 year career. The only difference is I am in a higher tax bracket since my earnings are more concentrated, and I have less time to contribute to a retirement fund. “While perhaps not “astounding”, it probably still puts you in at least the top 3% of Americans in terms of income, and top 1% of the world.”

The lowliest working Americans are already in the top 10% of the world; heck even many of the illegal non-Americans working here in the top 10%. Considering the many years (30) I spent in the bottom 1% of the world before I had a paying job, I guess it all averages out to me being about in the middle over a 30 year career. The only difference is I am in a higher tax bracket since my earnings are more concentrated, and I have less time to contribute to a retirement fund.

]]> By: Anonymoushttp://www.kevinmd.com/blog/2007/03/capped-fees-for-doctors.html#comment-73517 Anonymous Sun, 01 Apr 2007 19:09:00 +0000 http://clients.emmense.com/kevinmd/2007/03/capped-fees-for-doctors.html#comment-73517 Kevin, once again, this is about Ontario and not all of Canada.<br/><br/>We have provinces (they are like your states, in case you didn't know) with distinct health care policies. Time and time again you point to how terrible things are in Canada and refer to some piece about Ontario. Kevin, once again, this is about Ontario and not all of Canada.

We have provinces (they are like your states, in case you didn’t know) with distinct health care policies. Time and time again you point to how terrible things are in Canada and refer to some piece about Ontario.

]]> By: Anonymoushttp://www.kevinmd.com/blog/2007/03/capped-fees-for-doctors.html#comment-73516 Anonymous Sun, 01 Apr 2007 18:44:00 +0000 http://clients.emmense.com/kevinmd/2007/03/capped-fees-for-doctors.html#comment-73516 While perhaps not "astounding", it probably still puts you in at least the top 3% of Americans in terms of income, and top 1% of the world. While perhaps not “astounding”, it probably still puts you in at least the top 3% of Americans in terms of income, and top 1% of the world.

]]> By: Greg Phttp://www.kevinmd.com/blog/2007/03/capped-fees-for-doctors.html#comment-73503 Greg P Sun, 01 Apr 2007 14:42:00 +0000 http://clients.emmense.com/kevinmd/2007/03/capped-fees-for-doctors.html#comment-73503 This $450,000 is misinformation. You have to see the "minus overhead and taxes" to understand it. Right now in our community overhead approaches 60-70% for many physicians. Much of that overhead goes back to the community in the form of giving jobs to those who work for us, and the employment taxes for those employees.<br/>Collectively, doctors are a major force in community employment, that generally is unrecognized.<br/>So take that $450,000, subtract 65%, then subtract another 20% from that for taxes, and you see it's not really an astounding amount of money. This $450,000 is misinformation. You have to see the “minus overhead and taxes” to understand it. Right now in our community overhead approaches 60-70% for many physicians. Much of that overhead goes back to the community in the form of giving jobs to those who work for us, and the employment taxes for those employees.
Collectively, doctors are a major force in community employment, that generally is unrecognized.
So take that $450,000, subtract 65%, then subtract another 20% from that for taxes, and you see it’s not really an astounding amount of money.

]]> By: Anonymoushttp://www.kevinmd.com/blog/2007/03/capped-fees-for-doctors.html#comment-73449 Anonymous Sat, 31 Mar 2007 00:08:00 +0000 http://clients.emmense.com/kevinmd/2007/03/capped-fees-for-doctors.html#comment-73449 You are spot-on Anon 4:54. The efficiency, particularly surgical and procedural efficiency, of the modern American physician is unparalleled. Gripe all you want, if you have the funds you can get it now. That is what the US populace demands; the situation can only become less efficient. You are spot-on Anon 4:54. The efficiency, particularly surgical and procedural efficiency, of the modern American physician is unparalleled. Gripe all you want, if you have the funds you can get it now. That is what the US populace demands; the situation can only become less efficient.

]]> By: Anonymoushttp://www.kevinmd.com/blog/2007/03/capped-fees-for-doctors.html#comment-73445 Anonymous Fri, 30 Mar 2007 21:54:00 +0000 http://clients.emmense.com/kevinmd/2007/03/capped-fees-for-doctors.html#comment-73445 The american physician right now is a well oiled machine. Market forces demand efficiency and patient satisfaction. Doing anything to the current system will get rid of the most efficient physicians on the planet. I did some time in England and on a typical OR day they would do two surgeries in the morning break for lunch for 2 hours and do one more case. That kind of schedule would be laughed at by 99% of the orthopedic surgeons in this country. In the U.S. I get close to double digits in the number of cases I do by lunch time. So I'm doing roughly the work of 5-6 British physicians and people want to take incentive away from the system. That will work great with the aging baby boomer population demanding such quality of life operations such as total hips and knees. Need a new hip? maybe next year, maybe never. The american physician right now is a well oiled machine. Market forces demand efficiency and patient satisfaction. Doing anything to the current system will get rid of the most efficient physicians on the planet. I did some time in England and on a typical OR day they would do two surgeries in the morning break for lunch for 2 hours and do one more case. That kind of schedule would be laughed at by 99% of the orthopedic surgeons in this country. In the U.S. I get close to double digits in the number of cases I do by lunch time. So I’m doing roughly the work of 5-6 British physicians and people want to take incentive away from the system. That will work great with the aging baby boomer population demanding such quality of life operations such as total hips and knees. Need a new hip? maybe next year, maybe never.

]]> By: Anonymoushttp://www.kevinmd.com/blog/2007/03/capped-fees-for-doctors.html#comment-73443 Anonymous Fri, 30 Mar 2007 21:39:00 +0000 http://clients.emmense.com/kevinmd/2007/03/capped-fees-for-doctors.html#comment-73443 $450 K a year sounds good to me--but is that what is taken home or is that before costs? As an otolaryngologist in a heavily managed care market, if I billed $450 K I would recieve about $150K and then take out my overhead expenses from that...leaving me with about what my gardener makes. In fact, that's about what I really do make. $450 K a year sounds good to me–but is that what is taken home or is that before costs? As an otolaryngologist in a heavily managed care market, if I billed $450 K I would recieve about $150K and then take out my overhead expenses from that…leaving me with about what my gardener makes. In fact, that’s about what I really do make.

]]> By: Anonymoushttp://www.kevinmd.com/blog/2007/03/capped-fees-for-doctors.html#comment-73439 Anonymous Fri, 30 Mar 2007 17:35:00 +0000 http://clients.emmense.com/kevinmd/2007/03/capped-fees-for-doctors.html#comment-73439 11:36: You are obviously the victim of an educator's negligence. I wish I could get the lost quality of my life as a doc comepensated for. 11:36: You are obviously the victim of an educator’s negligence. I wish I could get the lost quality of my life as a doc comepensated for.

]]> By: Anonymoushttp://www.kevinmd.com/blog/2007/03/capped-fees-for-doctors.html#comment-73434 Anonymous Fri, 30 Mar 2007 16:36:00 +0000 http://clients.emmense.com/kevinmd/2007/03/capped-fees-for-doctors.html#comment-73434 You're right, it is apples to oranges. The physician can continue to earn income, albeit capped, for the rest of their life.<br/><br/>The victim of their negligence, however, only has the one shot at getting his economic damages and lost quality of life compensated for.<br/><br/>Good call on your part. You’re right, it is apples to oranges. The physician can continue to earn income, albeit capped, for the rest of their life.

The victim of their negligence, however, only has the one shot at getting his economic damages and lost quality of life compensated for.

Good call on your part.

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