Doctors make too much money

[George The Curious]

People always complain civil servants make too much money, TTC unions asking for too much, teachers unions asking for too much. Rarely do you look at the obscene amount of money doctors are raking in. Is it because we see all health care worker as some kind of angelic heros out saving lives? Does this public image and emotional response give them unfair advantage to win public support?

http://wallstreetpit.com/5769-the-medical-cartel-why-are-md-salaries-so-high/
In this article, it describes how AMA in the US limits the number of medical school admissions to stifle competition, and keep doctors fee high. Rarely do you hear people complaining or even associate AMA as a union.

http://www.theglobeandmail.com/life...uch-are-canadian-doctors-paid/article7750697/
This article is specific to Canada, and concludes with "But what doctors are paid should not be a guessing game. The lack of transparency does not serve taxpayers or the medical profession." Apparently, Canada is worse because it's all a guessing game. But from my personal experience and friends and acquaintance doctors, if you are making less than $300k you are doing something wrong as a doctor.

Another globe and mail article cites:
http://www.theglobeandmail.com/news...-making-more-money-than-ever/article14562208/
"The data show the average physician was paid $328,000 for clinical services last year, from a high of $376,000 in Ontario to a low of $258,000 in Nova Scotia. (Most doctors must pay their overhead – including office space and staff wages – out of their income.)"

And we all know how the waiting game goes at doctors office...

So I wonder why there hasn't been a public outcry to end the waste, when clearly most of other industries and professions have seen much cost cutting and lowered labour costs from new arriving immigrants. Only medical profession seems to hold up because of the relentless control by certain medical associations (which is really a union, without the word UNION in it).

 

[TeasePlease]

As you point out, You're referring to top line revenue. Once you take out operating costs, doctors aren't taking home much more than other professionals like lawyers or accountants. Comparing Canadian to US doctor revenue is an eye opener. Huge difference.

 

[ig-88]

They don't really make that much, and they deserve it, considering the long hours and education they put in.

The real money is in being schmoozed by the pharmaceuticals and health insurers; the business of health care, not the delivery, is where it's at.

 

[Saskatchewan]

As you point out, You're referring to top line revenue. Once you take out operating costs, doctors aren't taking home much more than other professionals like lawyers or accountants. Comparing Canadian to US doctor revenue is an eye opener. Huge difference.

Hogwash. Most doctors are over paid.

If I walk into a Walmart, I can buy whatever the fuck I want. I should be able to do exactly the same thing when I walk into a Shoppers or a Rexall (apart from the Opiates and habit forming drugs). The doctor's monopoly on all pharmaceutical drugs is what needs to change to bring down the cost of public health care. But doctors say the sky will fall if that happens and politicians are stupid enough to believe them.

 

[asterwald]

Doctors make way more than lawyers and many ceos of mid sized companies. Mayor ford is probably making less than a doctor.

 

[TeasePlease]

Hogwash. Most doctors are over paid.

If I walk into a Walmart, I can buy whatever the fuck I want. I should be able to do exactly the same thing when I walk into a Shoppers or a Rexall (apart from the Opiates and habit forming drugs). The doctor's monopoly on all pharmaceutical drugs is what needs to change to bring down the cost of public health care. But doctors say the sky will fall if that happens and politicians are stupid enough to believe them.

Umm, I guess you assume that doctors are the same as big pharma? You're also advocating eliminating prescription
drug controls?

(Btw, walmart has pharmacies too)

Doctors make way more than lawyers and many ceos of mid sized companies. Mayor ford is probably making less than a doctor.

Lol. Ford makes less than a senior associate at a lawfirm.

Btw, yeah, I want my doctor making the average wage. Makes sure we get the smartest and brightest in the field.

 

[larry]

Looking at the numbers mentioned above, it seems to be doctors are WAY underpaid. Some of caught on and have been milking the private insurance market for a long time. I can't understand why OHIP puts a max on yearly income. If a DR chooses to see more patients, where's the problem?

 

[Butler1000]

Hogwash. Most doctors are over paid.

If I walk into a Walmart, I can buy whatever the fuck I want. I should be able to do exactly the same thing when I walk into a Shoppers or a Rexall (apart from the Opiates and habit forming drugs). The doctor's monopoly on all pharmaceutical drugs is what needs to change to bring down the cost of public health care. But doctors say the sky will fall if that happens and politicians are stupid enough to believe them.

This is why they regulate drugs....to keep it out of the hands of people who think they know better....

 

[Ridgeman08]

Hogwash. Most doctors are over paid.

If I walk into a Walmart, I can buy whatever the fuck I want. I should be able to do exactly the same thing when I walk into a Shoppers or a Rexall (apart from the Opiates and habit forming drugs). The doctor's monopoly on all pharmaceutical drugs is what needs to change to bring down the cost of public health care. But doctors say the sky will fall if that happens and politicians are stupid enough to believe them.

This is why they regulate drugs....to keep it out of the hands of people who think they know better....

Beat me to it... I had the exact same thought as I read that statement.

(On the plus side... natural selection would likely take care of the problem in and of itself... :wink

 

[TeasePlease]

Looking at the numbers mentioned above, it seems to be doctors are WAY underpaid. Some of caught on and have been milking the private insurance market for a long time. I can't understand why OHIP puts a max on yearly income. If a DR chooses to see more patients, where's the problem?

OHIP Caps - the short answer is because we operate a "Free service", we have to control supply because demand is endless.


To be fair - the numbers quoted above are only a part of the pictures. Doctors can also receive significant compensation from hospitals and clinics (e.g., ER shifts). This is especially true for northern ontario docs where hospitals have had a tough time attracting enough docs to meet coverage requirements. These payments don't show up as part of the doc comp stats because they are paid by hospitals or other parties (not directly by the gov't)

 

[Toronto`s Finest]

They don't really make that much, and they deserve it, considering the long hours and education they put in.

The real money is in being schmoozed by the pharmaceuticals and health insurers; the business of health care, not the delivery, is where it's at.

...... except in the U.S. there is some sector of the surgeon profession that make insane amounts ..... BUT the stock & trade family physician is not making huge money.

 

[fun-guy]

Hogwash. Most doctors are over paid.

If I walk into a Walmart, I can buy whatever the fuck I want. I should be able to do exactly the same thing when I walk into a Shoppers or a Rexall (apart from the Opiates and habit forming drugs). The doctor's monopoly on all pharmaceutical drugs is what needs to change to bring down the cost of public health care. But doctors say the sky will fall if that happens and politicians are stupid enough to believe them.

Please explain what you mean. Doctors monopolize pharmaceutical drugs? What does that mean.

 

[JamesDouglas]

Their net pay is $225,000 on average, hardly overpaid when you consider that there are many executives in companies that get paid more, who have much less education, much less responsibilities, and much less stress.

 

[VIPhunter]

Nonsense. Dr. get paid for work done (fee for service), no salary, vacation pay……simply, if they don't show up at work that day, they don't get paid…

Now, about those civil servants….Look around at a few government offices this Friday afternoon….I'll bet there's no line up for the water cooler.



Absolute bullshit.

 

[Klute]

Doctors pay salary for their staff, over head such as office space, accountants and even office supplies. They are not overpaid. They work long hours and spent years obtaining an education. Ridiculous to think they are over paid.

 

[TeasePlease]

Doctors pay salary for their staff, over head such as office space, accountants and even office supplies. They are not overpaid. They work long hours and spent years obtaining an education. Ridiculous to think they are over paid.

Many doctors have to maintain overhead, but don't overestimate. A good number (particularly specialists) are supported by hospitals who provide free office space and a stipend for staff, etc.

 

[vegasman]

Doctors make to much money Are you kidding, What about professional athletes.Ridiculous
I have many doctor friends and they work there butts off. They save lives

 

[shack]

So I wonder why there hasn't been a public outcry to end the waste, .

Thankfully because most people are more intelligent on this topic than you are.

 

[alex52]

Doctors are not overpaid.

Now SPs, they're overpaid.

Sp are over paid they charge $200 per hour and number of years of training zero

 

[Tiger]

Something to read about, that was passed on to me by a doctor friend
http://benbrownmd.wordpress.com/
"The Deceptive Income of Physicians"

There's alot of number crunching in there, but you'll get the drift...
These docs work mighty hard for many years in school before they start seeing some $$ head their ways

If you think they make too much money, then don't go see them - as the common saying goes around TERB - vote with your wallet! I for one, like to be healthy and happy, and I'll gladly pay my doctor, dentist, acupuncturist, RMT, optometrist, chiropractor. Heck, my wife even sees a TCM doctor (traditional chinese medicine). Worth it to me, and when it stops being worth it, i'll stop going