The Health Care Bill and Your Medical Practice—What the Experts Say

While many of the people who fought the health care bill called it "socialized medicine

," the fact is that the bill as passed maintains a capitalist system in which most of the health care industry will be able to set prices as it sees fit.

Even the health insurance industry itself is facing only weak price controls while one of the biggest contributors to skyrocketing medical coststhe pharmaceutical industrywon't have to reform pricing at all.

This combination could end up being a disaster for primary care physicians. Why? Because one of the biggest selling points for the health care bill was that it would keep costs down. And what sector are the cuts going to come from if not from the pharmaceutical and health insurance industries? That's righta lot of them could well come from your bottom line.

Let's look at the facts. The health care bill does provide for some weak controls on the prices that health insurers can charge by prohibiting insurers "with a pattern of excessive rate increases" from selling health insurance on the new exchanges, according to the White House website.

And while the pharmaceutical industry is being billed a one-time assessment under the reform bill, that is the only financial hit being taken by those companies.

So we're looking at a situation where drug companies can charge whatever they want, health insurers have to at least appear to be careful about rates, and the government will be guaranteeing insurance to millions of people while at the same time looking to keep costs down.

Primary care physicians already work harder than just about anyone else in health care while still being the lowest-paid physicians. Now your patient load is set to go up by 10%20%, while at the same time every one of the players except the drug companies are going to be searching for ways to cut costs.

What do you think is likely to happen? As a former medical sales representative who now works as a wealth management advisor to primary care physicians, I don't think the future is looking that promising.

The health insurance industry is facing weak price controls on one side and the end to their discretion in which subscribers to take on the other. Our government has taken on a huge share of the responsibility for providing health insurance coverage at a time when we're facing historic levels of federal debt. Meanwhile, you know that the pharmaceutical industry isn't going to do a thing to keep costs down.

I think this is going to add up to more work for the same or even less pay for primary care physicians. And while there is a way for you to protect your lifestyle, the time to act is now if you want to come away from the health care bill with your wealth intact.

As a primary care doctor, you spend your entire workweek taking care of other people. Now that the health care bill has passed, you must start looking out for yourself at least as well as you care for others. That way you can have the lifestyle and retirement that you've earned no matter what happens to the health care industry in the future.

The Health Care Bill and Your Medical PracticeWhat the Experts Say

By: jengilbert02@yahoo.com

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