Just learned something...
Waste of taxpayer money
It's also a waste of taxpayer money when a physician opts out. 'We are all paying out of our pockets to produce doctors,' said Mosley.
That's because medical residency programs are mostly funded by Medicare to the tune of $9 billion to train about 100,000 residents annually, according to the Medicare Payment Advisory Commission.
'It's Medicare that funds hospital costs to house residency programs, pay salaries of residents and sometimes pay faculties' salaries,' said Mosley.
Dr. Patricia Perry, 44, a dermatologist based in Burbank, Calif., operates a solo practice. She mostly performs medical procedures such as skin biopsies.
Perry said she's 'seeking to get out' of her profession because she's fed up with insurance reimbursement challenges while struggling to cover other costs associated with being a doctor.
'When you get to a point where you feel unappreciated and you're arguing with people about being paid, it takes away the passion for what you do,' Perry said."
Read it all at money.cnn.com
I admit that I was unaware that our government run Medicare program was also helping pay for so much to provide the nation with doctors. On top of making sure that all of our elderly citizens have access to basic medical care. Seems like a great return on our investment.
The rest of the article relates to other costs, like malpractice insurance premiums, that continue to rise while reimbursements from insurance companies are not increasing.
Individuals and businesses have seen insurance premiums skyrocket. But doctors are not getting increases in reimbursements for services. Where is the money going? Funneled into CEO salaries instead of providing care.