(via The Blog that Ate Manhattan)
"Why should I care if doctors get a pay cut?" my patient recently asked me.
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The number of physicians who do not accept new Medicare patients is dramatic; in states like Texas, this number can exceed 40%. No wonder, as Medicare pays less than half of doctors' fees. This scenario comes as a record number of Boomers approach Medicare age.
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According to the Kaiser Family Foundation, there are more significant drivers of health costs, including new prescription drugs, technology and administrative needs. Princeton economist Uwe Reinhardt estimates that physicians' take-home pay represents roughly 10% of national health care spending. Cutting physician pay by 20% would only reduce spending by 2%.
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