CNN: Dr. Vern Cherewatenko is one of a small but growing number of physicians across the country who are dumping complicated insurance contracts in favor of simple cash payments.
As one forced to pay for his own insurance through COBRA, I’m all for it… if perscriptions dropped to a normal price point (as well as Dr. services) life would be very, very easy and – ultimately – better.
I have a friend who is a doctor on the east coast. If it wasn’t for the skyrocketing price of malpractice insurance, doctors would be MUCH more affordable.
They really need to do something about capping malpractice.
Beau
I think a few things would have to be done, all at the same time, but going back to cash is a start. Because then there’s the hospital – they take cash, but it’s to the tune of 5-6 figures per operation. At $500 per “are you OK?” room visit from a Dr., that would have to change too. As well would perscriptions. And then yes, malpractice too, would have to be capped so it’s one less expense.
Personally I believe once one thing took off (I honestly don’t care which) the rest of the costs jumped on the bandwagon, and that’s caused the mess we have right now…
I am a physician just about to start out in my own private practice. I am astounded by the cost of malpractice insurance! I will have a very difficult time getting started with the upfront costs alone. I’m going to take cash, but I’m going to have to charge the usual fees for consultations and procedures just to keep from going under, let alone making profits. Don’t forget about student loans that now are due to be paid and which have increased, via deferrment, to close to two hundred thousand dollars. Those have to be paid as well as the high malpratice insurance costs. I love being a physcian and really look forward to tort reform so I can make my 30 years of education work for me.