This is staff growth. There's tons of money in healthcare because that's the main expense people spend on as discretionary income increases, but clinical staff growth is always going to be limited, even if residency slots were not a barrier there's only so many people who have the capacity to become physicians, so lots of that money is going to end up absorbed by non-clinical personnel.
The pie is only getting bigger, that’s what’s even more surprising.
It won't that long for healthcare to make up 30% of the country GDP, and that when people will be ok with medicare for all.
Wut? You mean CEOs?
I meant CEO, COO, CFO.
So the 1%?
I check mine the other day, which is not part of a big healthcare organization (1 hospital with < 300 beds) and he make ~700k plus bonuses. My guess is that his total compensation 800-850k. The guy has a business degree from a no name school.
Neat. N=1
Most of the smaller hospitals hemorrhage money, for various reasons, HCA being no different. The CEOs of those hospitals still make more, as do the top executives and physicians, but they still hemorrhage money. A majority of the employees make nothing by comparison. These facilities are also often prone to closures and buy outs.
That's still less than lots of doctors...
The patient care techs around here start at less than $18 an hour.
I was referring to MRI/CT tech etc...
When you factor in inflation, physician CMS reimbursement is down 40% from 2000! Anyone, please give me 1 or 2 fields showing similar trends, including increased cost of training and increased cost of working (eg. malpractice insurance, paying staff in private practice). Bonus if their field is 50% as competitive as medicine is when it comes down to admissions etc
MRI Tech here and I clear about 67k gross in a University Health System. Our department has 10 full time techs and we accumulate 100k+ in outpatient charges every day between 2 scanners (about 12 hours of scanning). That doesn't include 8 hours of inpatient scanning that occurs after the outpatient schedule. Between our compensation and the Rads reading the images, it doesn't take a mathematician to see that techs and Rads could be compensated significantly more for the revenue that we generate.
Unfortunately, hospital admin/insurance corps (until recently, hopefully)/big pharma/PE firms have been crazy successful in painting doctors as the big money makers in healthcare. Because of this, it’ll be near-impossible for any legislature that increases physician compensation to pass because to the layman who has zero clue regarding the finances behind medicine DocToRs mAkE tOo MuCh MoNEy aND sHoULd dO tHiS fOr FrEe bECauSe tHeY’RE aLtRuiSTiC AnD HeALthcARe iS a RiGhT. ****, the number of people who think Residents make six figures is stupidly high, with the truth being Residents make like $12-15 an hour when you do the math, and multiple studies showing their productivity to a hospital worth ~$130k a year.
I disagree. Most Americans I run into feel physicians work hard for their income and are reasonably compensated for the amount of education they went through, the work they do, and the responsibility they have.
Kids can't vote and most adults don't vote in favor of kids... only themselves. Seems obvious why the system is the way it is.
I think most people don't actually know how much employed PCPs make.
Correct. I should have said "if/when they find out, most people are surprised at how little pediatricians and PCPs make"
I can't speak to peds but being in medical school and seeing the commonly floated around pay scales for which specialties make the most, I am actually quite surprised by PCP pay. The numbers floated around usually undershoot what my wife brings home in both jobs she's had now as an attending by a fair amount. I'm not saying we're out buying mansions or that she really feels fairly compensated for all that she has to deal with, but it is definitely not the dire straights (by physician standards) we were initially led to believe before seeing contracts.
PCPs can make a lot of money when they do things right or are valued by the system employing them.
Maybe I'm engaging in the wrong communities then because in other online forums a lot of who I suspect are college-students or otherwise part-time workers think that doctors who make over $200k make "too much".
i don't get how people wouldnt know their $/wrvu especially in a field like rads. Making high 6 figures for <40/wrvu in a traditional on-site setting isnt good pay. Maybe its easy for me to say because $/wrvu jobs are more common now but still shocks me how ignorant the avg rad is. What % of rads would you say have no clue what their $/wrvu is? or whats considered good?
www.medpagetoday.com
