Analysis: When economists published revealing data about doctor salaries, the backlash was intense. Why? And why do doctors earn so much more in America than in other countries?
We here at the Department of Data are dedicated to exploring the weird and wondrous power of the data that defines our world.By accounting for all streams of income, they revealed that doctors make more than anyone thought — and more than any other occupation we’ve measured. In the prime earning years of 40 to 55, the average physician made $405,000
Yale University economist Jason Abaluck notes that when he asks the doctors and future doctors in his health economics classes why they earn so much, answers revolve around the brutal training required to enter the profession. “Until they finish their residency, they’re working an enormous number of hours and their lifestyle is not the lifestyle of a rich person,” Abaluck told us.That is true.
But that debt almost vanishes against a physician’s still more-than-robust expected $10 million in lifetime income.One unfair, inflammatory and accurate answer would be that they like money. They also found that each 10 percent increase in the Medicare payment rate for a procedure causes a 4.4 percent increase in billing for the procedure — mostly because the doctor will work to find additional patients who could benefit from the now-more-profitable intervention.“We can’t just sit back and say, ‘Oh doctors, they’re good people. They wouldn’t possibly do this,’” Gottlieb said. “They may be very good people, but that doesn’t mean that they don’t care about economics.”“In general, U.S.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin, Ethereum Technical Analysis: BTC Consolidates Around $29,000 Ahead of Nonfarm Payrolls – Market Updates Bitcoin NewsBitcoin is trading near a support point of $29,000, ahead of today’s U.S. nonfarm payrolls (NFP) report. Ethereum was back in the red.
Read more »
EUR/JPY Price Analysis: The next up barrier remains at 158.00EUR/JPY manages to pick up pace and reclaims the area above the 156.00 hurdle after two consecutive daily pullbacks on Friday. In the meantime, the co
Read more »
Analysis | 5 things Trump’s Jan. 6 indictment week tells us about the 2024 electionAnalysis: The first former president of the United States to be indicted has now been charged a third time. Here’s what we’ve learned from the last five days.
Read more »
EUR/USD Price Analysis: The hunt for the 1.1150 zoneEUR/USD adds to Thursday’s advance and climbs to four-day highs north of the key 1.1000 barrier on Friday. Further gains in the pair should meet the n
Read more »
USD Index Price Analysis: Further losses in store below 103.50DXY adds to Thursday’s decline and challenges the key 102.00 support at the end of the week. The index came under renewed downside pressure soon after
Read more »