r/FluentInFinance • u/The-Lucky-Investor • 11d ago

“Medicare for All” would save the U.S $5.1 Trillion over 10 years Discussion/ Debate

https://www.commondreams.org/news/2018/11/30/easy-pay-something-costs-less-new-study-shows-medicare-all-would-save-us-51-trillion
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u/YYC-Fiend 11d ago

What about the share holders? WON’T SOMEBODY PLEASE THINK ABOUT THE SHAREHOLDERS?

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u/abrandis 11d ago edited 10d ago

Exactly, everyone looks at the healthcare crisis from the perspective of the patients.

Lol , the US healthcare is built around the private equity groups , insurance industry, big hospital systems , big pharma ,labs and diagnostics imaging, medical devices ....every part is making fat profits,when you look at it from their perspective and it all makes sense. This system is working perfectly...for them...

Meanwhile 33+ other developed countries with way smaller economies can somehow offer universal healthcare. (Of course they're not perfect, but none would trade theirs for ours) .go figure...

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u/Verumsemper 11d ago

Nothing in the US healthcare ever considers the physicians!!

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u/Dry-Way-5688 11d ago

Everyone seems envious because they think doctors are rich. Reality is doctors are just pawns for insurance companies. They are hardly rich. For the mental and physical stress they have to endure in their line of work, they are not even rich. Not compensated enough.

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u/rads2riches 11d ago

Doctors make up only 9% of healthcare costs. The rest is a mix of largely remora fish.

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u/LittleCeasarsFan 10d ago

I don’t think that’s true.  Unless you choose to work in a setting serving underserved communities, you are probably doing very well.  A GP in my area, mcol, makes at least $300,000 a year.

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u/aaron1860 10d ago

Yes physicians make a good salary but they need to. The people capable of becoming doctors are likely capable of making more in other fields like business and finance. Combine that with the sacrifice needed of giving up 8+ years of income by completing med school and residency, and the ludicrous student loans, no reasonable person would chose this without the promise of a good lifestyle - even if they want to dedicate themselves to service.

For illustration, a person has choice between engineering and medicine…. Engineer makes 120k a year after 4 years of undergrad. Physician has another 8 years of training (med school and residency) plus a 300k loan after undergrad. In that 8 years the engineer makes almost 1 million in income (plus 401k and whatnot). The physician makes 300k a year but it takes them another 5 years to catch up if they save every penny.

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u/Dry-Way-5688 10d ago

Longevity in doctor’s career is limited. The older they are, the more wear and tear their bodies go thru, the less they can work. It becomes a loss investment.

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u/Imallowedto 10d ago

I would think a career like a construction worker, roofer, or flooring installer is way harder on the body.

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u/kmurp1300 8d ago

And that’s not true of plumbers?

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u/Dry-Way-5688 8d ago

Plumbers donot start their career by borrowing millions for student loans.

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u/kmurp1300 8d ago

Millions?

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u/ggtffhhhjhg 10d ago

There are doctors in my state making over a million a year and all the nurses I know make around $100k+ a year.

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u/Dry-Way-5688 10d ago

This is anomaly. Some doctors in cosmetic may do. Those have to charge enough because the lawsuit is expensive. (Is it worth it?). But the average doctor is just considered middle class or slightly higher.

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u/ggtffhhhjhg 10d ago

These doctors aren’t in cosmetics.

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u/Examiner7 10d ago

Yeah I don't think it's actually the doctor's fault. It's all the bazillion middlemen trying to leach a living.

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u/kmurp1300 8d ago

Procedure oriented docs are rich.