Does the future of healthcare affect your decision?

Started by emttim
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emttim

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So the way I see it, even if they don't socialize it, as long as they make health care more "free" to some extent then they will increase the demand for health care services. The supply will stay constant obviously because nothing drastic is going to change there (at least initially), so anyone with a small amount of economics background will know that will push up the costs of healthcare considerably. The ever-ignorant politicians may (I stress may because I don't know if even they are this stupid or even capable of doing so) at that point choose to place salary caps on physician pay much like they placed price caps on gasoline in the 1970s. I'm sure since most of you non-trads are older and remember the gas shortages in the 70s (as it was explained to me, people would wait in line for over an hour and then some of them were still turned away), you're aware of the effect this would have on healthcare.

Does the uncertainty of health care and the fact that the president may socialize it or otherwise damage it severely affect your decision to become a doctor?

I'm sure this is beating a dead horse, but I'd imagine approaching the question in this forum does not, because non-trads generally have a much more intelligent (and well-informed) opinion on matters due to maturity and life experience.
 
Nope, not even a little.

The ever-ignorant politicians may (I stress may because I don't know if even they are this stupid or even capable of doing so) at that point choose to place salary caps on physician pay

Hate to be the first to tell you this.. but the insurance companies are better at placing caps on physicians pay than the government. If the pay were to be similar to "socialized" systems in other countries..150k without a thing called malpractice doesn't sound so bad. Not to mention the ER wouldn't be used for "Toe Pain" or "Tooth Pain," or "Abdominal Pain/16wks pregnant with NPCP" being code for I need to get my prenatal care somewhere, and my employer won't pay for any kind of insurance.

Right now the system is a giant cluster F of the left and right hands and brain not knowing what the other things are doing. Is it really that bad that someone may provide some sort of leadership in this realm that isn't driven by billionaires and international finance stock holders? I don't think so.

Regardless of the system.. you'll still practice medicine, unless the drive is money.
 
Hate to be the first to tell you this.. but the insurance companies are better at placing caps on physicians pay than the government. If the pay were to be similar to "socialized" systems in other countries..150k without a thing called malpractice doesn't sound so bad. Not to mention the ER wouldn't be used for "Toe Pain" or "Tooth Pain," or "Abdominal Pain/16wks pregnant with NPCP" being code for I need to get my prenatal care somewhere, and my employer won't pay for any kind of insurance.

Right now the system is a giant cluster F of the left and right hands and brain not knowing what the other things are doing. Is it really that bad that someone may provide some sort of leadership in this realm that isn't driven by billionaires and international finance stock holders? I don't think so.

Regardless of the system.. you'll still practice medicine, unless the drive is money.

Awesome!:clap:
 
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Nope, not even a little.



Hate to be the first to tell you this.. but the insurance companies are better at placing caps on physicians pay than the government. If the pay were to be similar to "socialized" systems in other countries..150k without a thing called malpractice doesn't sound so bad. Not to mention the ER wouldn't be used for "Toe Pain" or "Tooth Pain," or "Abdominal Pain/16wks pregnant with NPCP" being code for I need to get my prenatal care somewhere, and my employer won't pay for any kind of insurance.

Right now the system is a giant cluster F of the left and right hands and brain not knowing what the other things are doing. Is it really that bad that someone may provide some sort of leadership in this realm that isn't driven by billionaires and international finance stock holders? I don't think so.

Regardless of the system.. you'll still practice medicine, unless the drive is money.

I'm not sure which countries you're referring to; but $150k is not the norm for physicians in socialized health care nations from what I can gather. Where did you get the $150k number from? I currently work in a research lab and we had a doctor from Spain working in our lab for a year. He extended his stay for another 6 months because he loved it here. As a doctor in Spain he got paid peanuts (and i mean much, much less) compared to what doctors were making here. He also visited the clinic at the hospital here and was amazed at how wonderful it was compared to his environment back home. Back in Spain, nurses run everything, they tell the doctors what to do. The man really wanted to stay but he is older, married and has all his friends and family in Spain. Though he did somewhat jokingly say that if he gets divorced he would gladly come back and go thru residency to practice medicine here.
 
A man told me two days ago that docs in Great Britain get paid $60k. Does anyone know if that's true? I have to tell you, I love taking care of people and everything. But 11 years (minimum) of school after highschool is far too much for me to make that kind of money. I'd literally rather mow yards.

Yes, the changing healthcare trend does concern me, but I have faith that I will be compensated for my education. I may not make $300k, but I know I'll make a good living no matter what. Unless they plan to start MAKING people go to medical school, they're going to have to keep the compensation up if they want young students to sign away 11 years of their life. Even the absolute dumbest politician would know that. SO, no, I'm not overly worried.
 
Regardless of the system.. you'll still practice medicine, unless the drive is money.

Regardless of the system, if you practice medicine without making money, you'll be getting the federal government's boot directly shoved up your *** if you default on those 150,000+ dollars in student loans you took out from them.

This was the point of asking in the non-trad section...to avoid the idealistic comments that claim money doesn't matter at all. Now, don't get me wrong, money doesn't matter...if you're planning to not pay back your student loans anyway. Well, I guess you could always have your wages garnished...maybe they'd leave you enough to eat on. Hell, you might even be given subsidized living in the projects if you're really nice and ask on a Friday.
 
Does the uncertainty of health care and the fact that the president may socialize it or otherwise damage it severely affect your decision to become a doctor?

I have to admit that this topic angers me to no end. I had one Med interview with the ADCOM member was a know-it-all MS1 tyke where he posed that question in the vein of ethics, and then proceeded to argue with me-wasting time, my waning energy, and my chances at getting in.

This seems to be one area where being a non-trad with life experience really hurts. If you say answers aren't simple (because you have seen that real life is never quite like college) then you are labeled as a cynic. I hate the idea that doctors should be iconoclastic ideologues-paying mucho dinero to PACs so that the gubmint doesn't ruin (or, even worse, lower the profit margin) our profession.

Now I'm grumpy. I must go to sleep
 
I'm not sure which countries you're referring to; but $150k is not the norm for physicians in socialized health care nations from what I can gather. Where did you get the $150k number from?


Germany and England to the best of my half knowledge. and the 150k was a rather random comparison to a good lifestyle.. My wifes Ob while I was stationed in Germany was nothing short of living a comfy lifestyle. Doctors my in-laws knew personally from East Germany made a great living as well.


I currently work in a research lab and we had a doctor from Spain working in our lab for a year. He extended his stay for another 6 months because he loved it here. As a doctor in Spain he got paid peanuts

From what I understand.. Doctors aren't the only ones making peanuts in Spain...

to avoid the idealistic comments that claim money doesn't matter at all.

Idealistic.. perhaps, but if we've lost all semblance of a foundation to stand on save the all mighty failing dollar.. what do we have left? Ya.. I'm idealistic, because if we stop being idealistic. what's the point of doing anything. I often wonder if people realize that a significant chunk of the medical technology in hospitals is made by a German "socialized" company called Siemens.

P.S. Because so many people complain about "politicians"

The ever-ignorant politicians may (I stress may because I don't know if even they are this stupid or even capable of doing so)

If you don't like your elected officials, go put your name on a ballot, get out and talk to people about how you feel and be the change you want to see. Yes... I have done that so there isn't any hypocrisy thing going here.

P.S.II Simply because it's fun to get people all riled up.. especiallly about changing a world none of us can control...😱😕:scared:
 
Personally I don't think it makes much sense to use what doctors in other countries make as a basis for estimating what doctors in the US might make IF a one player universal healthcare system was implemented here. It makes a great TV soundbite but the issue has a lot more other factors than just who pays the bills.

For starters, length of the education is different, in many other countries medical education is an integrated 5-6year program and residencies are different too. Also the cost of medical school is very different as well, and on top of that you have socialist countries such as Denmark where you receive a stipend as a student (compared to here where you might be taking out hundreds of thousands of dollars in loans). You have to remember that Great Britain has universal healthcare but also private healthcare which makes salaries vary somewhat.

And of course everything is relative, even in countries where from our perspective doctors aren't well compensated, they still make a decent amount compared to others.
 
People will always get sick, so I'll always have a job.

I want to have a good professional life and making money is important for me to be comfortable. However, I don't want to be the richest person in the graveyard.

I can't take the money with me when I'm dead.
 
If you don't like your elected officials, go put your name on a ballot, get out and talk to people about how you feel and be the change you want to see. Yes... I have done that so there isn't any hypocrisy thing going here.

P.S.II Simply because it's fun to get people all riled up.. especiallly about changing a world none of us can control...😱😕:scared:

You assume I haven't already done that, so obviously, there isn't any hypocrisy going on here despite your insinuation to the contrary. I'm not trying to rile anyone up...I'm trying to find out what effects the poor state of the future of health care has on people's decision to go over a hundred thousand dollars into debt and spend 10 years of school doing so, because as I'm hoping you would be able to figure out, this decision is one I have to make myself so I'm curious what other people think of this situation.
 
well, lets be honest with each other here....

If doctors made as much money as engineers did, no one would ever go into it..... think about it, why in the world would you like to be in 100-200k debt and start your first job making 40-50k??? because you "wanna help people" ?? please save that for your interviews

I agree that the "main" drive for medicine shouldn't be money, but you can't say that money isn't one of the top 5 reasons.

As far as answering the main question for this thread....I HIGHLY doubt that a change our healthcare would ever effect doctors.... maybe our salaries would be dropped (maybe 20-30% of whatever it is today), but not to the point where you woun't even be able to pay your bills back
 
So the way I see it, even if they don't socialize it, as long as they make health care more "free" to some extent then they will increase the demand for health care services. The supply will stay constant obviously because nothing drastic is going to change there (at least initially), so anyone with a small amount of economics background will know that will push up the costs of healthcare considerably. The ever-ignorant politicians may (I stress may because I don't know if even they are this stupid or even capable of doing so) at that point choose to place salary caps on physician pay much like they placed price caps on gasoline in the 1970s. I'm sure since most of you non-trads are older and remember the gas shortages in the 70s (as it was explained to me, people would wait in line for over an hour and then some of them were still turned away), you're aware of the effect this would have on healthcare.

Does the uncertainty of health care and the fact that the president may socialize it or otherwise damage it severely affect your decision to become a doctor?

I'm sure this is beating a dead horse, but I'd imagine approaching the question in this forum does not, because non-trads generally have a much more intelligent (and well-informed) opinion on matters due to maturity and life experience.


President cannot "socialize" health care; look to Congress to do that. The biggest uncertainty exists right now in terms of cuts to physician reimbursement (again Congress). Increased interest rates on Federal Student Loans and demands that those loans be paid back during residency are going to kill you long before you ever get into the health care system. If you are not currently in medical school, you have a "tough row to hoe" and becoming a mid-level isn't going to save you.
 
Hmm. A number of issues here. It is difficult to compare our salaries as doctors to those of other countries. How much of a paycut would you be willing to take if
a) you had no loan payments (your education was free),
b) you had no health insurance payments (healthcare is socialized), and
c) you had no liability insurance payments (because ours are much much higher than anyone elses)

I'd say that'd amount to at least $2000-$3000 a month, so that's a cut of say, $25-30,000. So please keep that in mind when you compare.

Secondly, the government doesn't say what doctor's should make. The HMOs do. If you've looked at hospital financing at all, it's really rather incredible. Insurance companies pay about 40% on a lot of procedures which means the rest has to be paid by the hospitals, which then go bankrupt, and get bailed out by the government. So basically, our government is susbsidizing the record profits of the insurance companies. Wouldn't it be nicer if they were just subsidizing people's health directly instead?
 
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Care to expand for those of us considering the midlevel route? You always have great insight, NJBMD (great blog, too).

CrazyPremed


A fair number of folks believe that becoming a mid-level practitioner will allow them to make more money in the face of decreasing physician reimbursements and increased costs of physician education and training. While you may enter the work force faster, as the salary of physicians drop, so droppeth the salaries of mid levels too. In the end, anyone and everyone in health care will be affected by global changes. It's the nature of the business. If you are in health care, your salary is dictated not by the hours (or how hard )that you work but by third-party payers (read the federal government).
 
The fears I have are not so much salary. I fear further restrictions on providing the highest standard of care. For example, I fear that time with a patients that will be reimbursed at an effective level will become ever shorter. I fear that patients will suffer having to wait for surgeries or tests or to get reimbursement for more effective but more expensive medicines. Already, there are doctors who do not accept insurance.

I will not be satisfied as a physician unless I am enabled to provide the highest standard of care for my patients that I am capable of.
 
President cannot "socialize" health care; look to Congress to do that. The biggest uncertainty exists right now in terms of cuts to physician reimbursement (again Congress). Increased interest rates on Federal Student Loans and demands that those loans be paid back during residency are going to kill you long before you ever get into the health care system. If you are not currently in medical school, you have a "tough row to hoe" and becoming a mid-level isn't going to save you.

Great insight as always NJB...I have to ask though as far as the loans being paid back during residency...has this been passed into law yet? How on earth does the government expect you to make a $2,000 a month loan payment while you're only making $38,000 annually? Or did they just not worry about that when they passed that legislation?
 
Great insight as always NJB...I have to ask though as far as the loans being paid back during residency...has this been passed into law yet? How on earth does the government expect you to make a $2,000 a month loan payment while you're only making $38,000 annually? Or did they just not worry about that when they passed that legislation?

http://www.aafp.org/online/en/home/...student-focus/20071213hardshipdeferments.html

well it looks like there is at least a temporary reprieve.

To weigh in on the money thing: I make plenty of money right now and am not super fulfilled in my present job as a health care administrator who deals with contracting for third party payments. I would like a career that combines autonomy in decision making in regards to patient care with a skill set that is universal in nature. As long as i am living comfortably, I will be fine.
 
Personally I don't think it makes much sense to use what doctors in other countries make as a basis for estimating what doctors in the US might make IF a one player universal healthcare system was implemented here. It makes a great TV soundbite but the issue has a lot more other factors than just who pays the bills.

For starters, length of the education is different, in many other countries medical education is an integrated 5-6year program and residencies are different too. Also the cost of medical school is very different as well, and on top of that you have socialist countries such as Denmark where you receive a stipend as a student (compared to here where you might be taking out hundreds of thousands of dollars in loans). You have to remember that Great Britain has universal healthcare but also private healthcare which makes salaries vary somewhat.

And of course everything is relative, even in countries where from our perspective doctors aren't well compensated, they still make a decent amount compared to others.

Hmm. A number of issues here. It is difficult to compare our salaries as doctors to those of other countries. How much of a paycut would you be willing to take if
a) you had no loan payments (your education was free),
b) you had no health insurance payments (healthcare is socialized), and
c) you had no liability insurance payments (because ours are much much higher than anyone elses)

I'd say that'd amount to at least $2000-$3000 a month, so that's a cut of say, $25-30,000. So please keep that in mind when you compare.

Exactly. When people try to compare how much doctors make in this country vs other countries, they forget to take into account that those 'socialized' systems also means education is (relatively) free and malpractice is not nearly as high. Plus not all doctors work crazy hours in other countries. US doctors make a very good salary compared to other countries but there's also hidden costs that eat up our salary (long hours/malpractice/tuition).

And one more thing, even in Canada, with it's much ballyhooed socialized system, still seems to attract top undergrads into their medical school. In fact, I had dated a Canadian doctor who was doing his residency in this country and he mentioned that it was so hard to get into a Canadian school that most med students actually had used US med schools as backups in case they didn't get in in Canada. British medical schools is also competitive. So having a socialized type of system does not seem to deter good students from entering medicine.

As for the OP's question, health care is changing yes, but everything changes. Every field is changing constantly, the difference is that people acknowledge that healthcare NEEDS to be changed.

How much did if affect my decision---hm, a small bit, but after I researched other fields, I realized all fields will change. My parents were microbiologists who ended up doing molecular biology. Their field has changed in leaps and bounds since they graduated from school.

The IT field, my previous of line work, is also changing. Who knows if programming will ever become a feasible option for US students in the next twenty years with all the outsourcing?

Healthcare will also change as people are starting to feel the heavy cost of it. But the healthcare system is so large, there is so much inertia, that any change will come slowly.

People on these boards have such doomsday scenario that doctors will be forced to be slave labor or whatever, which I think is pretty nuts. My parents DID work for the gov't for over 20 years before going into the private industry. It certainly isn't the nightmare people make it out to be, but I can't remember one area of industry where an entire profession is made into a public profession. We live in a free market society and there will always be room for doctors who want to operate cash-only, or in private practice. People will always want choices outside of what the gov't offers. People are used to the high quality of service. Not everyone will be clamoring for gov't run services. I am not worried that we will all be forced to work for the county hospital (heaven forbid). Whatever the situation is, I'm pretty sure the multitude of choices, and pay structure will always be available to doctors. And because of that, there is always room for US doctors to do well.
 
No, I make a decent living now, and I am willing to downgrade if I must.
 
http://www.aafp.org/online/en/home/...student-focus/20071213hardshipdeferments.html

well it looks like there is at least a temporary reprieve.

To weigh in on the money thing: I make plenty of money right now and am not super fulfilled in my present job as a health care administrator who deals with contracting for third party payments. I would like a career that combines autonomy in decision making in regards to patient care with a skill set that is universal in nature. As long as i am living comfortably, I will be fine.

Straight from that link:

The elimination of the deferment program led to an outcry among medical students. Without the program, medical students would have to start repaying their debts immediately after graduation during their residencies or choose forbearance, which allows individuals to delay making repayments while interest continues to accrue on their loans.

I'm glad you posted that link because I was under the impression that you had no choice due to that but to start paying back loans during residency....nice to know that there's an option of forbearance. Yeah, sure, capitalizing interest on those loans sucks but that's a much better alternative than making a $2,000+ loan payment each month while only making $38,000 a year. Besides, as far as the capitalized interest on top of the loans....well, it's not like anyone's putting a gun to your head and making you go into pediatrics, FM or IM. Almost any specialty outside primary care, based off the salary charts, will allow you to pay back a higher loan amount due to capitalized interest.
 
As I understand it, the current loan repayment requires you to pay a minimum of 15% of your income. At 38G/yr, 15% is $475/mo. That still sucks, but it's not as if you are taking on the full payments. It's also possible that you will be able to write off the student loan interest, whereas, later on, your income will be too high to write it off (I think the cap is in the 110k range?).

I think there is a basement to physician salaries created by the demand for nursing/tech staff. You have to pay to retain nurses. It is unlikely that MDs will be consistently paid less than nurses (though I'd believe you if you showed me an MD somewhere making 70G and an RN making 85G, etc). So you can only go so low. And even with the prevalence of PAs and NPs, there seems to be no less demand for MDs.

I think the greater wierdness for medicine will happen at the end of my career, when the baby boomer bubble has worked its way through geriatrics, and we are faced with my generation -the fast food/ipod/crackberry crew, and we see whether we live shorter lives than our parents.
 
Hey, I'm not claiming to know it all and be an expert but the number one concern of my fellow residents as we get to the end of our training and start to look for jobs is salary, location, and lifestyle. If you all don't think money is important or that you are going to struggle through maybe a decade or the better part of it making about two bucks an hour (averaged over medical school and residency) and then be happy making some arbitrary salary that sound like a lot now...well....you're in for a rude awakening. The consensus among my peers, just a local survey, is that if it wasn't for the money, this job would be so not worth it.

Just an unrelated thing, there is one advantage in my mind to having doctor's salaries capped or better yet, making us all government employees: I would not kill myself at work like I do now. I mean, I work hard as a resident to train to work hard as an attending, moving patients as quickly, safely, and effectively as I can. Cap my salary? Hey, if it's not an emergency I'll get to it when I get to it...kind of like it is for my friends in Europe who are doctors who are amazed at the hours our doctors put in. Try getting a Greek doctor excited about a full waiting room in one of their Emergency Rooms.
 
The consensus among my peers, just a local survey, is that if it wasn't for the money, this job would be so not worth it.

It's just as silly to base one's career choice on money as it is to base it on altruism. We are talking about a 35 year career where you will spend a good part of your waking hours in, that's going to cost upwards of $100k and a decade of your life to train for.

How is it any better to "do it for the money" than it is to "do it to help people"? Multiple factors should go into the decision to go into medicine.

Money and finding purpose/it should be top on the list when picking a career, and it's not any better to say that you'd quit if it wasn't for the money as it is to say that you'd stay to work for free.
 
Money and finding purpose/it should be top on the list when picking a career, and it's not any better to say that you'd quit if it wasn't for the money as it is to say that you'd stay to work for free.

It is often more complex than a binary choice.
 
Hey, I'm not claiming to know it all and be an expert but the number one concern of my fellow residents as we get to the end of our training and start to look for jobs is salary, location, and lifestyle.

Well you are certainly further down this road than I am and to this point it seems like it is far easier for my thoughts to run towards idealism when I am not actually engaged in the task that I am speculating about.

It reminds me of when I was a vegetarian in HS. My Dad used to say that once I was a poor college student, I would eat whatever there was that was free or cheap, fish or foul. I used to rail against his thinking, but like so many other things about life, he was unfortunately correct.
 
Hah. As Americans, especially American physicians training under the current model, our mode is full-speed all the time. I doubt you could turn it off as easily as you pretend, especially after how many years practicing the way you do now.

Limit my pay and I'd still be here (which is, ironically, exactly my situation coming up in milmed). Limit my hours to their idiotic 58/wk, and I'm waving goodbye to the whole stupid system

I assure you that if I was a government employee in a job for which production was not important and from which I could only be fired with great difficulty I'd leave exactly at the end of my shift, I'd avoid taking complicated patients towards the end of it if I could help it, I'd work at a pace that was comfortable for me (one patient an hour as opposed to three) and the waiting room would be packed until the public realized that their days of fast medical care for non-emergent complaints was over.

I currently work about 55 hours per week as an Emergency Medicine resident and I assure you, if you work at the breakneck speed that our specialty forces us to, you will be worn out after a couple of shifts and want nothing more than to go home.
 
I looked at my life long social security statement.
My income has gone up every year since I graduated PA school in the 80's.

The doc I work for says before he joined this group, his income had been flat for the last 5 years due to medicare, insurance and he says he had to see 2x as many pts just to maintain the stagnant income.

No way in hell would I go for MD now or ever and I'm glad I didn't.

In the private practice I work in now, I made the same as a PCP in Maine last year and I only work about 38-40 hours a week.
 
No way in hell would I go for MD now or ever and I'm glad I didn't.

Do you ever wish that you had more autonomy? Some PA's I have spoken with have stated that they wished they had more autonomy and that they regret not having pushed for an MD.
 
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Do you ever wish that you had more autonomy? Some PA's I have spoken with have stated that they wished they had more autonomy and that they regret not having pushed for an MD.

I used to, but I've been a PA 21 years now. I don't really care about being " the decider" anymore. I get lots of days off, I get paid well, and ego doesn't drive it anymore. Besides, when it all hit's the fan, I clock out and go home and Mr. Big has to clean it up. I like that. I like that a whole lot.

So you're the MD, big freaken deal. You're in charge, the main man. So what ? The mess this system is in... that's about as prestigeous as being the Mayor of Cleveland.

Be very careful what you wish for. Be very careful
 
I used to, but I've been a PA 21 years now. I don't really care about being " the decider" anymore. I get lots of days off, I get paid well, and ego doesn't drive it anymore. Besides, when it all hit's the fan, I clock out and go home and Mr. Big has to clean it up. I like that. I like that a whole lot.

So you're the MD, big freaken deal. You're in charge, the main man. So what ? The mess this system is in... that's about as prestigeous as being the Mayor of Cleveland.

Be very careful what you wish for. Be very careful

That sounds extremely ominous!
 
The mess this system is in... that's about as prestigious as being the Mayor of Cleveland.

Heeey. I like Cleveland! But, yeah, I wouldn't wanna be mayor of the city. I'd rather be on the board of governors at Cleveland Clinic.
 
So the way I see it, even if they don't socialize it, as long as they make health care more "free" to some extent then they will increase the demand for health care services. The supply will stay constant obviously because nothing drastic is going to change there (at least initially), so anyone with a small amount of economics background will know that will push up the costs of healthcare considerably. The ever-ignorant politicians may (I stress may because I don't know if even they are this stupid or even capable of doing so) at that point choose to place salary caps on physician pay much like they placed price caps on gasoline in the 1970s. I'm sure since most of you non-trads are older and remember the gas shortages in the 70s (as it was explained to me, people would wait in line for over an hour and then some of them were still turned away), you're aware of the effect this would have on healthcare.

Does the uncertainty of health care and the fact that the president may socialize it or otherwise damage it severely affect your decision to become a doctor?

I'm sure this is beating a dead horse, but I'd imagine approaching the question in this forum does not, because non-trads generally have a much more intelligent (and well-informed) opinion on matters due to maturity and life experience.

Tim, I would agree with you that basically demand for medical services will keep rising inexorably, so everyone in the medical field--MD/DO, RN, NP, PA, PT, RT, etc.--should continue to have good employment indefinitely. It's highly unlikely that they can cap physicians' salaries; the AMA is too powerful, and physicians would move to private practice and group partnerships and other creative ways to sidestep the system, and the hospitals would find themselves in a severe shortage.

Regarding pay rates, as someone pointed out, insurance companies are in the driver's seat right now with regards to reimbursement, and that's unlikely to change very much. Creative and business-savvy physicians can make a lot of money, even in this environment.

I gave up six figure salaries and the freedom to leave my job behind at 5pm, spent my life savings, accumulated huge debt, and am daily wracked with uncertainty and anguish about my decision. Yet, when I'm in a clinical environment, I realize once again why I'm here. My high tech career was initially challenging, later boring, and occasionally exciting but it always lacked the humanistic component that I was craving.

Well I think it's good that you ask good questions because it indicates that you'll make a good physician. Keep plugging away and keep challenging yourself and the people around you to question the status quo, and maybe bit by bit we can improve the picture.
 
The doc I work for says before he joined this group, his income had been flat for the last 5 years due to medicare, insurance and he says he had to see 2x as many pts just to maintain the stagnant income.
Above quote is worthy of being reiterated. Sure 150K may sound like a lot as a destitute premed student, but when you actually have to WORK like a slave horse nowadays to bank that money it will almost seem not worth it.
 
Even though physician reimbursement is declining, it will have to plateau at some point. Physicians across the U.S. would throw their arms up if their salaries started falling to a ridiculously low salary. Every known organization (AMA, AAFP, etc.) would certainly lobby and definitely make their presence known to congress. Money is obviously a very motvating factor for many physicians, and many (if not most) physicians would not continue to work 60+ hours a week for a salary of 60K. Our healthcare system as we know it would certainly take a turn for the worse if that were to happen.

For me personally, money is obviously a motivating factor of pursuing medicine. It is not the most attractive factor for me, but I definitely would not pursue it knowing I could make just as much working as a nurse. Pursuing medicine is just something I need to do for my own self-satisfaction (I am sure that factor is the same for most who pursue medicine).
 
Even though money may not be the most important reason to enter medicine, it has to be a factor to consider. Loans, cost of living and cost of practicing requires a certain income level upon graduation. After being in the health care industry for many years, I really get frustrated every time I hear there is talk about federalizing the health care system. Letting the government decide how you will treat your patient isn't going to provide the best care. It will only provide the most cost effective care. The insurance companies have controlled doctors for years. Now the government wants to take over. Do doctors need more "masters" to tell them how to treat their patients? Do patients need another level of red tape to go through to get the care they need to treat their illnesses and save their lives? I don't think so.