Doctors driven to bankruptcy

[BLADEMDA]

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http://money.cnn.com/2013/04/08/smallbusiness/doctors-bankruptcy/index.html?hpt=hp_t2



Five years ago, Plantation, Fla.-based bankruptcy attorney David Langley didn't have a single doctor as a client. Since then he's handled at least six bankruptcy cases involving doctors. Two current clients -- an orthopedic surgeon and an OB/GYN -- also are in bankruptcy.

 

[Dwindlin]

http://money.cnn.com/2013/04/08/smallbusiness/doctors-bankruptcy/index.html?hpt=hp_t2



Five years ago, Plantation, Fla.-based bankruptcy attorney David Langley didn't have a single doctor as a client. Since then he's handled at least six bankruptcy cases involving doctors. Two current clients -- an orthopedic surgeon and an OB/GYN -- also are in bankruptcy.

I know you've said it many times here, and this highlights a fact that I agree with you on. I think my generation of physicians will see the end of private practice medicine.

 

[45408]

Ouch. I'd really prefer not to report to HR at some big hospital group, but the way things are going, it will be increasingly hard not to.

 

[chessknt]

Seeing the oncology docs go is sad, but they are being hit hard (or so I hear). Undoubtedly the masses will blame greedy drug companies, but the ultimate result is people dealing with the horror of cancer now have to also deal with not being able to find someone to help them. Truly a shame.

 

[docelh]

Medical services may be a necessity, but this article just shows how that may not be enough.

The high fees and regulation make solo practice a lost cause.

 

[aneftp]

This is why u see many physician groups sell out to corporations or hospitals.

They take a small (or large) one time payment and a guaranteed income for 3-5 years.
They don't have to worry about overhead any more. That's the corporations problems although many docs get talked into selling 51% of their practice.

I think it's just better to sell 100% and move on. U don't want to have any emotional ties by still retaining 49%. Obvious a good option for docs in their late 50s with few years left.