Lowering Physicians Wages to Reduce Healthcare Costs
Now that we all understand something about healthcare policy (thanks Bobby), albeit superficial, I thought some of you might be interested in this post from Marginal Revolution. Click Here
At the end of his post Cowen states that first step in reducing healthcare costs in the U.S. is to reduce doctor’s salaries, by allowing a greater number of qualified foreign doctors practice in the U.S.
If wages are lowered won’t better qualified potential med-school candidates go someplace else, leaving us with less qualified doctors? What do you think?
P.S. the rest of the post on the French healthcare system is interesting as well.
At the end of his post Cowen states that first step in reducing healthcare costs in the U.S. is to reduce doctor’s salaries, by allowing a greater number of qualified foreign doctors practice in the U.S.
If wages are lowered won’t better qualified potential med-school candidates go someplace else, leaving us with less qualified doctors? What do you think?
P.S. the rest of the post on the French healthcare system is interesting as well.
posted by Mr. Beaver Mountain at 8:58 AM
5 Comments:
Interesting thoughts. One of the drawbacks by lowering salaries of physicians, is the need then to lower the cost of medical school. A premium is charged to those inclined to go through the academic riger associated with this profession. I would imagine that the cost of medical schooling in other countries with socialized heathcare is a decreased burden to the medical student in comparison to the student enrolled statewide. To practice in the US, one must have attended an accredited university and pass the medical boards here while trying to prove that they have no terrorist affiliations to reside legally in the country. Seems a tough situation to me.
I agree Beth Ann. The institution of med. school would have to change.
I should also mention, that even though there is this rigorous testing system in the US that medical students and residents have to go through to practice in the states, I have seen many a physician that probably should not be practicing. I am unaware of the standards and history in other countries, but there is always a bad apple or two. Couple those bad apples with our own locally grown, what would happen to the overall quality of healthcare?
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I also agree with Beth Ann in that the med school process would have to be changed. What are the other drawbacks in having foreign doctors come and practice in the U.S.? Would it really make that much of a difference? The foreign doctors might see how much their counterparts are making and demand the same, or close to the same, salary. Also, the middle and upper classes might still pay for a physician they trust and can rely on. Therefore, it might make a slight difference, but I don't know about the dramatic reduction people are looking for.
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