In just three years the fraction of medical practices owned by physicians dropped from 2/3 to less than half:
Source: New York Times
If you enjoyed this article, subscribe to receive more great content just like it.
Subscribe via RSS Feed
Trackback URL | Comments RSS Feed
My favorite part:
“When I was young, you didn’t blink an eye at being on call all the time, going to the hospital, being up all night,” said Dr. Gordon Hughes, chairman of the board of trustees for the Indiana State Medical Association. “But the young people coming out of training now don’t want to do much call and don’t want the risk of buying into a practice, but they still want a good lifestyle and a big salary. You can’t have it both ways.”
It just galls me when you get older generations complain that today’s children are spoiled brats because they don’t roll over and accept that “that’s the way it’s always been done.”
Tip: When someone says, “You need to pay your dues,” he/she really means, “I would be really upset if you young people didn’t have to go through the misery I went through as a kid/resident/young person.”
Mr. Hughes: Maybe they can have it both ways. That’s the beauty of human ingenuity. And, given the choice between a nice, regular schedule and being on call 24-7, which would you prefer?
I’ll be stepping off of my soap box now.
Most people in the health policy world will probably think this is a good thing. But I suspect that this trend is a bad thing.
Some physicians that do own their practices are changing to concierge medicine or ultra-low overhead practices. This allows them to be their own boss, without the headache of billing departments or cash flow problems caused by aging receivables. I believe these doctors tend to be more entrepreneurial.
Looks like we are moving in the direction of more bureaucratic medicine.
At the risk of being more boring than usual, where do these data come from? The Medical Group Management Association represents group practices. In the past its data, which are subject to selection-bias, have been used by “reformers” of various stripes to support a variety of Obama like health care reforms. The reformers pile on whether or not the data apply to the case in question.
A simple question: How did MGMA determine whether the XYZ, LLC or P.C. is even a medical practice, let alone whether or not it is or is not owned by a physician? Are they combing state business records?
Linda, you are always keeping us on our toes. Good for you.
It says in the article that they cut welfare/grayfare reimbursements to cardiologists by 30% and their deadbeats rose to 30% of practice. Basically, they were squeezed. I suspect that they gained efficiencies by merging.
Get Health Alerts by Email: