Medical costs are one of the fastest rising components of the US CPI. With insurance premiums running out of control, many families can no longer afford effective coverage. So why is health care so expensive?
Doctors will tell you that it is litigation, excessive bureaucracy and paperwork and greedy HMO managements. In contrast medical salaries are rarely mentioned as a potential cause.
Well, there is a blog for every subject on the web, and there is even one just devoted to physician's salaries. It contains some amazing posts. For example, can can anyone resist reading a post entitled "the million dollar surgeon".
However, the most revealing post was called "physicians dominate top 50 highest paid list". According to the Bureau of Labor Statistics, a staggering 9 out of the 10 highest paid jobs on the list were found in the health care industry. Here is the list of shame:
1. Surgeons -- $177,690.
2. Anesthesiologists -- $174,240.
3. Obstetricians and Gynecologists -- $171,810.
4. Orthodontists -- $163,410.
5. Oral and Maxillofacial Surgeons -- $160,660.
6. Internists, General -- $156,550.
7. Psychiatrists -- $146,150.
8. Prosthodontists -- $146,080.
9. Family and General Practitioners -- $140,370.
10. Chief Executives -- $139,810.
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4 comments:
Anonymous said...
Thanks for the post. It is what I always suspected.
ryan said...
i could never in good faith take one of those jobs. You can also cause so much pain to people.
Anonymous said...
Physician salaries in USA, true I agree, are high, as compared to the rest of the world, but the biggest reason for increase in medical costs was found to be the rise of medical technology / new drugs and a an increasingly diseased population. Obesity, smoking, work stress and resulting hypertension, cardiac problems and diabetes are hugely responsible. The few very unhealthy people make the other healthy people pay for their care in increasing premiums.
:-) we all need to be fixed..dont we ;-)
Strategic Investor said...
The expense has to do with how healthcare is charged and paid for.
Mostly, government and Medicare and Medicaid are to blame, because they pay by procedure and not outcome. Medical malpractice also encourages more procedures to be done, so we pay a lot to prove that someone should take 1 aspirin a day.