Squeezed By The Man And Closing Up Shop
A St. Petersburg neurologist is closing up shop. Why?
After 17 years as a neurologist and part-owner of a private practice in St. Petersburg, caring for patients with everything from migraines to multiple sclerosis to massive strokes, the bottom line showed that his earnings were half what they were six years ago. And he saw no signs of a turnaround.
This isn’t a problem unique to only neurologists, either.
An article in the Feb. 12 issue of the New England Journal of Medicine said the percentage of specialists in independent practice has declined 18.6 percent since the mid 1990s. Primary care doctors have also been migrating to larger groups or jobs as employees of hospital systems or HMOs.
The days of hanging a shingle and practicing independently are having the final nails drove into their dusty coffins as we speak. Now that Obama is in office and spouting “reform” everytime you turn around, I certainly see physicians making the transition from entrepreneur to (underpaid) employee in my crystal ball.
Dr. Franklin’s son speaks up in the comments on the article. I like what he has to say:
As Dr. Franklin’s son, I would like to speak from our personal perspective on his issue. Firstly, my father always wanted to teach. Secondly, he never cared about the money; we live well even with the pay cuts. This article is not about money.
Also, in reference to other doctors, this mass exodus of Florida’s healthcare is a byproduct of all of the legislation against them that YOU, THE PATIENT, supported. It’s a two way street whether you like it or not. Also, I’m becoming a lawyer.
Going to school for 8 years and another 3-7 years of postgraduate training to work for the government just doesn’t seem right.
But, I do think that’s where it’s headed.
“The days of hanging a shingle and practicing independently are having the final nails drove into their dusty coffins as we speak. Now that Obama is in office and spouting “reform” everytime you turn around, I certainly see physicians making the transition from entrepreneur to (underpaid) employee in my crystal ball.”
Hoover, can u explain the effects of universal health care if and when that happens? you seem like you have a good idea about that.
I am someone who is currently studying in the UK. Which has universal healthcare delivered by one vendor, the NHS. It’s the government owned corporate face that represents the Ministry of Health to the public.
In certain areas the care is absolutely magnificent. Do you know why? Because hospitals are given total freedom in managing their funds. That’s when they flourish, although don’t expect cutting edge technology like that in the USA. But….if the government regulates said hospitals funds all hell breaks loose. It’s easy to go into a ward and find one junior doctor and 2 senior doctors with 132153345343454 nurse practioners. They’re morons, they can’t do differentials and they don’t understand enough about pharmacology and pathology to help the patients.
Honestly, the way I see it. Very few opportunities to make money in Medicine are available in the Western World. The posts are shrinking. But in the Gulf states I see big room for that. A gigantic tax free income and the media doesn’t berate doctors so the people still hold doctors in that God like picture. I’m going to practise there, the language barrier is a no issue for me.
it was about the money:
“I asked myself, ‘Do I want to continue running around like this, making less than I did six years ago?” he said of his decision-making process. “It’s illogical.”
Damn right it was about the money, and who could blame him?
Once everything is said and done, it’s usually all about the money. The premed dreamers like to think otherwise, but they’ll learn once they gain a little bit of “real life” experience.
Money makes the world go ’round.
This is a trend that we’re seeing in many different specialties.
The only information I extracted from this news piece is that
After 17 years in practice, he had enough money to retire
Thank you for freeing up an employment spot for the newly released medical graduates.