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Do doctors make an unfair amount of money?

Results so far:

Yes
42% 314 votes Total: 746 votes
No
58% 432 votes

Yes

by Tracy Lynn Smith

Created on: March 04, 2010   Last Updated: September 26, 2010

Doctors do make an unfair amount of money. I understand that doctors have to do a lot more college and have larger college bills then most people. However, the doctor bill for my husband’s ER visit for a kidney stone was $500. The doctor saw my husband for a total of ten minutes. There was a separate bill for the hospital so this was purely for the doctor’s bill. If the doctor gets only one patient per hour for an eight hour shift; he would make $4,000 a day. Yet a working family with two parents work and good pay at $10 per hour would only makes $3,200 per month. Why does a doctor make much more then a hard working couple in just one day? Plus many doctors see more then one patient an hour.

Even when you look at a regular doctor’s office, I have lived without insurance so I have checked some of the rates, most office visit start at $80 per visit. On Average the doctor spends about fifteen minutes with each patient. That is $320 per hour. Now that money needs to be spent to cover the costs for the nurse and office personnel. Say the staff at the doctor office make $10 an hour, and two employees. That will leave the doctor making $300 per hour which is $48,000 per month. Pay for the building including utilities, we’ll go high, $1,500 per month. Plus Benefit package for the two employees and need insurance for the practice, again rounding up, $5,000. This leaves doctor with his own office a profit of $41,500 per month which translate to over to $498,000 a year. This may not be exact, but it a good example. Specialist doctor like a rheumatologist appointments start at $150.

No one needs to make that much money in one year. That’s why the insurance company is charging so much; they need to cover the doctor’s bills. I know my work insurance would cost $600 per month for the whole family. That is almost one week worth of work for me and I would still have to pay co-pays for doctor’s visit. This is why so many people can’t afford insurance or medical treatment.

This is just a large unfair amount. Considering $38,400 is what an average working couple makes at $10 an hour. What good does it do to have all the advance medical treatments if most the people who need the treatment can’t afford them?

I think doctors can easily cut the charges in half and still live high on the hog. Another reason why doctors charge so much is all the suing that goes on. Doctors are humans and should be allowed a margin for mistakes. They should only be sued if they are careless, not over a mistake.

Learn more about this author, Tracy Lynn Smith.
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No

by David Furritus

Created on: March 07, 2010   Last Updated: March 08, 2010

Doctors don’t make unfair amounts of money. You know who makes unfair amounts of money? Student Loan companies, Universities, and Lawyers. The next time you’re wondering why your medical costs are too high and why we’re so desperately in need of health care reform, try not to look at how much doctors make.

First let’s look at how people become doctors:

First, they have to go to a good school and go pre-med. This means that they’re going to have to do a solid four years of study and more than likely, it will be through the use of financial aid like scholarships (if they’re smart and/or lucky) or student loans. These student loans will add up pretty fast and before they’re even out of their pre-med program they could be looking at a good $50,000 in student loans.

Then comes medical school. Those are anything but cheap, and they’ll easily have six figures worth of student loans by then. Then, they’re off to their internship and they’re not exactly going to be earning that much there either. They’ll be working long shifts to come home to ramen noodles and/or mac & cheese. Not exactly living the life yet, are they?

Once they get to their residency they’ll start to earn a little bit more, but they’re going to start facing their student loan repayments. Once their residency is completed they’re going to be looking at some massive payments every month.

Okay, so now they’re through all of that nonsense and they’re REAL doctors. They’ll probably work in hospitals, but a few gifted ones might go back to school for specialties. Once that’s done they’re earning those “huge doctor’s salaries” which are going mostly toward student loans – but, wait: now, they have a new problem: malpractice insurance.

If you ever watch daytime tv on local channels you’ll see all of those commercials that feature some guy in a stuffed shirt with an unbelievable hairpiece saying “Have you or any loved ones been injured, or killed in a hospital? We’ll help you get maximum restitution” – or something to that effect. These people make a nice fat living off of suing doctors for ANYTHING. In order for even the best of doctors to deal with these constant lawsuits, they have to pay for insurance – lots of it.

So, while doctors are often portrayed as incredibly rich people that love to pay golf on Wednesdays, for every one of those, you’re bound to find at least ten younger doctors that can barely afford a round of putt-putt golf with their friends.

Learn more about this author, David Furritus.
Click here to send this author comments or questions.


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