"Should we ever reach that point in private
medical practice businesses, where health
insurance isn't involved, and physicians keep
their own books, there will always be
Cryptocurrency to rely on."
If private practice disappears as most are predicting, then all physicians that have become fed-up with being an employee and those who choose to control their own careers will go for the only available option left in the USA--a cash-only practice method (Concierge Practice).
Then again the reality of this happening is next to none. I see two reasons for that. First, the same financial problems will continue to thwart the cash-only medical practices the same as they are today for a chilling reason... physicians aren't being provided with a formal business education and most all will fail financially. It's inevitable.
Secondly, I would expect that the government and politicians wouldn't tolerate the exodus of physicians from government controlled healthcare and would legislate physicians out of their cash-only practices.
You may think that you can't be forced out of a cash-only practice, but remember that the medical boards and state politicians that run them make the medical practice rules in each state. They could easily increase the requirements for state licensure or even limit it, require increased CME credits, and a dozen other restrictions that would or could bring doctors to their knees again.
I believe it is inevitable that with the outrageous education debts that keep increasing with no end in sight will serve as the primary leverage for forcing all medical school graduates into employed positions. Of course, medical education in Europe and other countries is much cheaper, especially
in France.
One could get the doctorate there and come back to the USA and practice. Actually, it's no different than the thousands of physicians from foreign countries now practicing in the USA today. Physicians from wealthy families who can pay cash for their education are left with the best options.
The one remaining and unresolved issue today is whether the Supreme Court will eliminate ObamaCare, or if the new president and congress can overhaul the healthcare system well enough to bring medicine back to a level that satisfies all the PHYSICIANS.
Patient care will be neglected, the same people without health insurance will never change, and tax dollars now doled out to medical education and medical research by the government will control the whole system anyway. It's a no win system.
I have always been happy and privileged to practice in the way I chose for all those years and before I had to face the present day challenges that certainly would have made me miserable in my
medical career.
----Professional Probe----
"When you pull up to the fast food place
with your horse and wagon, most will assume
that you likely lost your medical practice
because you had no business education."
Articles©2013-2022/CGG INVESTMENTS LLC. All rights reserved. #117, 3-16-22
