• American Doctors in Crisis, Many Going Broke

    I have written often about crisis doctors are facing with the challenges government policies are presenting for them.

    Now CNN Money has a new article out about how doctors across America are going broke, and we need look no further than Obamacare and the related changes in Medicare to know why.

    The article quotes Dr. William Pentz, a cardiologist in Philadelphia:

    …recent steep 35% to 40% cuts in Medicare reimbursements for key cardiovascular services, such as stress tests and echocardiograms, have taken a substantial toll on revenue.

    These cuts have destabilized private cardiology practices,” he said. “A third of our patients are on Medicare. So these Medicare cuts are by far the biggest factor. Private insurers follow Medicare rates. So those reimbursements are going down as well.

    This crisis isn’t limited to cardiologists. We know that many doctors have quit seeing Medicare patients entirely, and more are sure to follow. Many health facilities, including hospitals and hospices will fail. Further Medicare cuts will total $575 billion over the next decade and 7.5 million people will lose their Medicare Advantage plans and be forced into paying higher premiums for fewer benefits.

    America’s once superb healthcare system is crumbling before our eyes. Reversing this trend must begin with a change in leadership at the top in 2012 and the repeal of Obamacare. President Obama and his allies in socializing our healthcare system cannot be allowed to continue pushing forward. We’re seeing the results of their handiwork already.

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