That's only if you're part of the 10-20% of the physician workforce that are hospitalists. If you're part of the 80-90% that are in private practice, patients will locate you through their insurance company. If they see you listed as a PhD amongst a sea of "Dr. Board Certified MD", which one are they more likely to call up for an appointment?
Well, obviously that's all speculation on your part, but no one should get to claim a degree they didn't earn because it makes better business sense. A huge amount of people don't know what a DO is in this country. According to you, we should we let them use MD because it might hurt their business for patients to know they didn't attend a U.S. allopathic institution. Similarly, if patients in Australia:
-are ignorant of the U.S. medical degree
-skeptical in perusing your hypothetical insurance booklets even in light of other clear indications of status as a physician
-prefer an Australian-trained physician
...who can blame them?
1) it's not their job to learn every medical degree in the world and judge who's to practice medicine and who isn't. that's for licensing boards, which have granted me (hypothetically) the right to practice in the country and the insurance company who chooses to cover my services as a physician and advertise me as such.
2) they have every option to choose someone else, and may do that. People choose providers based on any number of arbitrary or legitimate reasons: gender, ethnicity, location, how quickly they found your name, who referred, WHAT THEIR DEGREE IS (MD/DO/DPM/NP/PA) how their name sounds, but if my name's in the book as a physician in _____ specialty (or whatever you happen to be), you're being accurately represented and that's all you can ask for.
3) people are usually only most comfortable with what they know. They probably know at least a little about the medical education in Australia, and may prefer an Australian-trained doctor. They don't necessarily know what the education system is like elsewhere and may not want to go on faith. That's fine and it's understandable. In fact, in your hypothetical example, if Australia were to change their physician degree to "MD" it would certainly be advantageous if they planned to supply physicians to the U.S. But once you assign yourself a new degree that you were not granted in order to hide the fact that you have a foreign degree, that's misleading people. If you don't want to tell people where you went to school, fine (although licensing boards will ask). But to go so far as to change the degree to go unnoticed....that's borderline criminal.
I'm not saying I'm 100% against allowing some foreign physicians to use "MD", but I'm against doing it for economic reasons, especially when there are so many other healthcare provider degrees out there that might jump at the opportunity to use "MD". Where's the line?
Let me also clarify that I have no ill impression of foreign physicians as a group - I am confident they are the competent and strong providers of roughly the same medicine we practice, maybe better in some cases. The ones practicing in the U.S. are no doubt on the same level as U.S.-trained physicians (as evidenced by their acquiring practice rights in the U.S.). This discussion does not address this - it addresses the use of different but perhaps equivalent medical degrees. Frankly, it's sort of a stupid topic, but I'm bored and ornery. So there you go, partner.