Thread: Obamacare?
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      08-17-2011, 01:21 AM   #35
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Originally Posted by 11Series View Post
Labor costs are pretty common to be somewhere between 20-35% of any business's expenses. It would be crazy to imply that any company could ignore labor costs and be successful.

True, I'll concede this. But just like any human capital-intensive business, labor is a critical factor in the medical field. Thus, changing labor prices will have a significant effect on productivity.

We are NOT attracting the "best and brightest" into the field of medicine to become doctors. We are attracting the wealthy and the priviledged who can shoulder massive education bills to become doctors, to the exclusion of many of the "best and brightest" who simply cannot afford to become a doctor.

If we can take a big chunk out of medical school debt, so that becoming a Doctor isn't such a financial roll of the dice, then we can REALLY attract the "best and brightest".

Seriously? There are a million reasons to illustrate why we ARE attracting the best and the brightest. Average standardized scores, accomplishments prior to medical school entry, GPA, etc. All students who want to go to medical school can, as long as they are willing to live modestly until they pay off their debt burden. Until now, government loan programs were relatively generous, usually covering most if not all the needs of a student. The rest of the expenses can be covered via private loans and scholarships. The military also offers a loan forgiveness program in exchange for X years of service.

Suggesting that all medical students are elitist and wealthy is frankly insulting; I can personally say that the vast majority of my classmates were NOT wealthy, and paid for their education through scholarships and loans.

The issue, that you stated at the end, is the immense debt burden doctors face following graduation, coupled with initially meager training salaries, at such a late stage of their lives. Rising educational costs also add to this. Did you know that we pay thousands of dollars for the PRIVILEGE of taking licensing exams? And all of this before we earn a penny.