Are American Doctors Overpaid? My Vote
An article in Slate raises an interesting question: are doctors overpaid? Unquestionably, the article points out, doctors in the United States make a lot of money relative to doctors in other countries. American doctors make four times what French doctors earn. Four times! Comparatively, the gap between what doctors make and rest of us make is larger in the United States than in other countries.
The numbers are eye popping. In the 1990s, the ratio of the doctor's income compared to the American employee's income was about 5.5. In France, it is 1.9. In Great Britain, it is only 1.4. As I wrote last week in my response to Dr. George Hossfeld's email, the top five highest paying jobs in the United States are all doctors.
Is it a travesty that one profession makes 5.5 times what the rest of us make? I don't think so. I think doctors should make a lot of money because in the big circle of life, it is more important that doctors do their job well than at least 99% of the rest of us, and we need to recruit the best and the brightest. So I'm cool with doctors making a lot of money. What I have a harder time digesting, however, is the suggestion that doctors are not making enough money, so we should turn our civil justice system - that has been in the works for hundreds of years - on its head so doctors can make more money.
Comments
Its true that doctors done a great job and our life is in their hand.So it does not matter whether they overpaid or not.And we will not have to argue on that.
Posted by: Joseph Watson | September 23, 2009 5:20 AM
I read with amusement your response to my post. In 2008, I earned $115,000 before taxes. That's for a 30 year career, past president of the Illinois College of Emergency Physicians, past Division Chief, University of Illinois. I have contributed ~ $75,000 in unreimbursed medical care per year for that last 30 years. I live in a 3 bedroom 2,000 square foot house and drive a 6 year old American car. My wife, an ER RN for over 30 years, and I have cared for thousands of patients without any financial compensation at all. And yes, I don't think you lawyers even get the way doctors think. There are many, many more like me than the few you fixate on. I guess that lets you rationalize your profession. Everytime I hear a trial attorney tell me about rich doctors (and make personal attacks that make them look foolish) I wonder when they last did pro bono litigation work for the "poor little guy". I dare you to post this, with your salary, house stats, etc.
Posted by: George Hossfeld | November 29, 2009 12:42 AM
I appreciate the information. It is certainly interesting. In one year of your life, 2008, you earned less than I would have expected and probably less than you deserve.
I'm surprised you did explain why you wrote me an email one day - without ever having spoken to me in my life - wishing ill on my family. (See http://www.marylandinjurylawyerblog.com/2009/09/dr_george_hossfeld_comes_after.html)
I've been blessed to be able to earn a decent living for my family. I'm not running from that. But my income or your income is not relevant. What matters is what the numbers say: doctors are paid 5.5 times more than the average American worker and more than your average American personal injury lawyer.
I actually think you missed the point. Read this post again. I specifically said I don't think doctors are overpaid.
Posted by: Ron Miller | November 30, 2009 12:08 PM