Friday, 06 January 2012 08:00
Small Business: Doctors Going Broke
By Parija Kavilanz | CNNMoney.com
Doctors in America are harboring an embarrassing secret: Many of them are going broke.
This quiet reality, which is spreading nationwide, is claiming a wide range of casualties, including family physicians, cardiologists and oncologists. Industry watchers say the trend is worrisome. Half of all doctors in the nation operate a private practice. So if a cash crunch forces the death of an independent practice, it robs a community of a vital health care resource.
"If this continues, I might seriously consider leaving medicine," [one doctor] said. "I can't keep working this way." Also on his mind, the impending 27.4% Medicare pay cut for doctors. "If that goes through, it will put us under," he said.
Although Congress has blocked those cuts from happening 13 times over the past decade, most recently on Dec. 23 with a two-month temporary "patch," this dilemma continues to haunt doctors every year.
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Congress Continues to Endanger Healthcare
Friday, 06 January 2012
Small Business: Doctors Going Broke By Parija Kavilanz | CNNMoney.com
Doctors in America are harboring an embarrassing secret: Many of them are...