Physicians, fed up with the costs of their practice, quit medicine and shift careers

An ObGyn doctor to CNN:

"After 24 years, I'm working longer hours than ever," she wrote. "Insurance payments for patient care have stayed virtually the same for the last 15 years, while the cost of doing business, including health insurance, staff salaries and supplies have risen.

Wah hit her "peak" income year in 1990. Then she took a pay cut every year from 1993 onward, to eventually take no salary for two months prior to permanently shutting her office.

A first-ever survey of 12,000 primary care physicians showed that 10.1% of respondents planned to seek a job outside of health care in the next one to three years.

It takes a minimum of 10 to 12 years of training to become a doctor. Medical residency programs are mostly funded by Medicare to the tune of $9 billion to train about 100,000 residents annually."

Please read the whole article: Rx for money woes: Doctors quit medicine. CNN.

Image source: OpenClipArt.org, public domain.