Physician licensure has created a cartel. There I said it and I said it out loud. The right to practice medicine has high barriers to entry, both in terms of high standards and high costs. It takes 7-to-11 years beyond college to train a new physician, but it really begins long before medical school.
Author: Devon Herrick
Does Medicare Underpay Physicians? Yes, No and Sometimes
There is a shortage of physicians in the United States. There is especially a shortage of primary care physicians willing to treat Medicare enrollees. People nearing the age of Medicare eligibility are often advised to begin searching for a primary care physician who accepts Medicare a year ahead of time.
Data published in 2020 by the Association of American Medical Colleges estimates that the U.S. could see a shortage of 54,100 to 139,000 physicians by 2033. That shortfall is expected to span both primary- and specialty-care fields.
The Advantages (and Disadvantages) of Medicare Advantage
Traditional Medicare has advantages and disadvantages. Traditional Medicare involves Part A (hospitalization) Part B (doctors and clinics), Part D (drugs). Parts B and D require additional premiums. Furthermore, traditional Medicare has unlimited cost sharing, that runs 20% of the total cost. Most enrollees in traditional Medicare opt to buy a separate supplemental insurance policy to cover their cost sharing.
Congress Needs to Ensure Health Care Price Transparency is not a Sham
The latest issue of Health Care News features a commentary, “Price Transparency Is a Fraud in a Fake Market.” This argument is somewhat surprising because conservative policy wonks love to expound on the benefits of price transparency. The logic goes that if only doctors, hospitals and drug makers were forced to reveal prices consumers would shop and force down prices, like occurs in competitive markets.