Berenson, A. (2007, July 29) Sending Back the Doctor's Bill. The New York Times

Link here

For any of you premeds, or med students out there, the nytimes has been doing an interesting report on doctor's salaries in the US and problems with our healthcare system.

Being a current medical student, I have to say that all the talk about what a doctor should be payed can be terrifying at times. Lots of news articles compare American doctors to their European peers, and show that doctors make significantly less elsewhere; around 60 to 120 thousand a year.

I understand that going into medicine shouldn't be bout the money, and I like to think that my reason lie on the altruistic side. But a steady decline in my potential salary certainly detracts from the lure of medicine.

Beyond college, medicine demands 4 years of basic medical training, then anywhere from 2 to 6 more years in residencies and fellowships following medical school. A surgeon can spend 8 to 10 years post college training to practice. And as they should, after all, they do cut people open. Medical school is not cheap, and can plunge students into 120,000 dollars of debt; even more if they attend a private medical school. residents and fellows get payed 30 to 40 thousand dollars a year. Needless to say, training to be a doctor is not glamorous, nor is it lucrative. I'll have a 30 year mortgage by the time I'm 26 with no consistent form of income until I'm at least 30.

So the question is, financially, why in the hell would I become a doctor? Well, I know that at some point in time, I'll be able to pay off my debt, and afford owning a home, supporting a family, and putting kids through college. But if the median salary for a doctor keeps dropping, will I want to be in a profession that demands lifelong training, but little stability?

Sooner or later potential doctors will become frustrated that their college peers who were econ majors are making six figures without any graduate education, and realize that they could do the same. Anyone who is smart enough to be a doctor is certainly smart enough to be a banker, or stock broker.

I think that the healthcare system has serious problems, but this idea that "the doctors can afford to pay for it" is crap. Working for the AMA, I heard the phrase "what's a couple hundred dollars to a doctor" when they would raise membership dues, or charge for some continuing education activity. And I feel like that's the attitude that everyone has. Doctors can afford it because they make a lot of money, right? Do your doctor a favor, the next time you are in the office, ask what they pay in malpractice insurance, ask how much med school debt they still carry, and notice how they are only 35, but have gray hair and bags under their eyes. Then tell them that they are selfish for wanting a good salary.