Saturday, March 27, 2010

More Doctors Giving Up Private Practices

There has been growing concern about the continuing trend away from small private practices and towards salary jobs at hospitals. Many of us are familiar with small private physicians from dentists and orthodontists, to podiatrists and optometrists. Because young physicians are becoming burdened by medical school debts and the costs of opening private practices there has been a huge drop in physician owned businesses in the last few years. These numbers are expected to drop as doctors decide to accept salaries at hospitals rather than worrying about the risks of a running a private business. The rise of bigger health care organizations may explain the rising costs of private health insurance. As the system continues this trend, more and more Americans will see the health care system as a monopoly.

For patients, this transformation is a "mixed blessing". Bigger health care systems can provide better care, but the the individual patient-doctor relationship that many of us still experience may no longer exist. What do you guys think?

3 comments:

PH(OE)BE said...

The drop makes sense in this economy. It's understandable that doctors no longer want to worry/deal with private practices. From my experiences, the patient-doctor relationship can still be there at hospitals as well.

Talia Y. said...

I have mixed feelings about this. I agree with Phoebe that it does make sense in this economy and that people will find it more practical. However, I think it is also good to have private businesses as well. In the long run, it might be beneficial to have private businesses so there is no monopoly and doctors, physicians, etc can run their own businesses with their own rules etc.

Yoda Yee said...

Ouch. With the drop of private businesses, there will be less money flow. As we discussed in class, the movement of just $500 can create a sustainable job environment.

I feel like the spiral of the recession persists because of these small factors. As less private businesses stand, there will be less job openings for those who are in need. Less jobs lead to less income, which ultimately leads to to less consumer spending.

Banks need to stop hogging up the money, and increase consumer confidence by loaning to the people. On the other hand, if all fails and banks die out... we're screwed.