Physician salaries have declined, but so what?

[jjoeirv]

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Physician salaries have declined, but so what? Their salary is still excellent. There will ALWAYS be a demand for doctors, because people will always get sick.

Troubling numbers
Two indicators from the Massachusetts Medical Society Physician Practice Environment Index show physicians are working more for less. Between 1992 and 2000, median income for physicians in the state dropped while the average number of hours per week spent on patient care increased.

Income Hours
------ -----
1992 $140,000 49.5
1993 $135,900 47.7
1994 $129,400 48.5
1995 $131,000 47.2
1996 $131,600 51.3
1997 $132,300 52.1
1998 $129,300 50.4
1999 $126,100* 51.6
2000 $120,600* 52.8*
Source: Massachusettts Medical Society Practice Environment Index Report, July. Figures marked with an asterisk (*) are estimates.
http://www.ama-assn.org/sci-pubs/amnews/pick_01/bil10813.htm

 

[pathstudent]

half the physicians in Mass make less than 120,000?

That is horrible.

 

[doc05]

You're asking a question. then you answer it. Do you mean to say you aren't troubled by those numbers?

Originally posted by jjoeirv
Physician salaries have declined, but so what? Their salary is still excellent. There will ALWAYS be a demand for doctors, because people will always get sick.

Troubling numbers
Two indicators from the Massachusetts Medical Society Physician Practice Environment Index show physicians are working more for less. Between 1992 and 2000, median income for physicians in the state dropped while the average number of hours per week spent on patient care increased.

Income Hours
------ -----
1992 $140,000 49.5
1993 $135,900 47.7
1994 $129,400 48.5
1995 $131,000 47.2
1996 $131,600 51.3
1997 $132,300 52.1
1998 $129,300 50.4
1999 $126,100* 51.6
2000 $120,600* 52.8*
Source: Massachusettts Medical Society Practice Environment Index Report, July. Figures marked with an asterisk (*) are estimates.
http://www.ama-assn.org/sci-pubs/amnews/pick_01/bil10813.htm

 

[jjoeirv]

I am not troubled by those numbers. Yes, the salary has declined. And, the workweek hours have increased. However, the salary is still excellent. $120,000/year is plenty of money. That is probably double what a PhD makes.

 

[doc05]

Originally posted by jjoeirv
I am not troubled by those numbers. Yes, the salary has declined. And, the workweek hours have increased. However, the salary is still excellent. $120,000/year is plenty of money. That is probably double what a PhD makes.

It's saddening to see that you find it acceptable that you will make less money for longer hours. Your time is worth something. The "satisfaction" you get from helping people is nice, but it sure won't pay the bills.

 

[GatorB]

If this information is an accurate average, it would be interesting to compare the physicians salary to what their increase in malpractice premiums have been. If it corresponds directly it would give a reason for the decrease in salary. What would be more interesting would be to look at the salaries of only those in academic medicine. This would present data that could show the salary trend without the influence of insurance costs (academic physicians are typically covered by self-insurance programs, and group captives, thereby eliminating the worries of insurance) by showing salaries set by the academic institutions.

 

[docuw]

The answer to your "so what" is that the cost of attaining the MD degree is going up at the same time. I have ruled out primary care as a career choice b/c I would not be able to pay back my student loan amounts within the required 10 years with the average salary.

 

[powermd]

Physician salaries need to remain high if medicine is to continue to attract "best and brightest" students. Look at the quality of secondary school teachers if you want an example of what could happen to the quality of doctors if salaries continue to decline. Both pursuits are highly rewarding in terms of non-financial gain, but the best and brightest almost always follow the money. $120K is NOT a high salary for a professional as competent as the average doctor. The average doctor is about as competent as the top 10% of lawyers. Think the top 10% of lawyers are making $120K? Think again. The average graduate from a top law school STARTS at about $120K.

On the subject of greed vs social justice: If you have a problem with physicians desiring to be well-paid, consider that social justice in health care is not (and should not, IMHO) be the sole responsibility of physicians, just because they are in the most convenient position to provide it. If you are willing to be altruistic, there are plenty of people willing to take advantage of you- HMOs, Medicare, Medicaid, your patients, etc. Social justice is the responsibility of society in general, and if society wants the fruits of doctor's labor, doctor's should make sure they pay for it. It is simply not sustainable for doctors to give away their services any longer (as it was when Medicare and BC/BS reimbursement was adequate).