Do Doctors Really Deserve More Pay?

Got this email from a physician the other day:

“Isn't quality, affordable health care something we should strive for? Or should quality health care only be for the rich? True Obamacare isn't perfect but something had to be done to reign in health care cost and instead of bickering about it, we as a nation should all be looking at what we can do to improve it.”

He read one of my blog posts in which I stated “In the rotten world of Obamacare, with the focus on "quality, affordable" health care, PAs, NPs and nurse anesthetists are going to get an even bigger windfall.”

This doctor’s thinking -- or rather lack thereof -- is something both you and I should be concerned about.

In my mind his comment translates to:

“Doctors services are not valuable and I deserve to get paid less. I’m OK with the government controlling everything I do as a physician. I will shut up and put up.”

When you have that type of mentality, you devalue yourself as a physician and you devalue our profession.

Unfortunately many physicians do this whether it’s intentional or not.

The result is that you give the impression that your education and training isn’t worth much.

It’s a sign of defeat.

It’s also a sign of accepting the idea that you are nothing special.

When you talk and act like this, others will seize the opportunity and take advantage of you.

The entities which control the purse strings -- the government and insurance companies -- are looking for ways to cut costs. And one of them is to limit how much you get paid.

They know that many physicians won’t stand up and respond to their threats and demands and instead take the easy way out which is to claim that “it’s just part of the job.”

Is that what we really want as physicians?

I absolutely agree that we should provide excellent patient care.

But in order to do that, we’ve got to change our mindset and convey the value we provide rather than demeaning our own profession.

Over the years one way I was able to empower myself, change my mindset, and build the confidence to show my value as a physician when others were putting me down was to get my finances and investments in order.

You see, I realized that my personal finances relate to everything else in my life including my mindset as a physician.

When my finances were a mess, I was down and it manifested in my behavior. I would accept pay cuts, work more shifts for no extra pay above and beyond the usual rate, and then justify it by thinking that’s the way it is.

But when I got my finances straightened out and had a plan and then implemented that plan, my behavior changed also. No longer was I someone’s lackey. Instead my attitude was “In order for me to provide good care to patients, you must value what I do, and you cannot continue to cut me down. If you do, then I will not offer my services.”

I hope that you agree with me.

If you do not, then you should probably unsubscribe from the financial lessons I send you through these emails.

If you’re still with me, awesome.

Because I’m launching a new service that I think will really help you. It’s a request I’ve gotten over the years from a number of physicians who really need help with their investments, retirement, and other aspects of financial planning but who don’t want to hire a financial advisor. I’ll send you more details soon.

For now, if you’d like for me to help you change your mindset by getting your finances and investments in order, then schedule your initial consultation by clicking here:
Just fill out the short form and I'll be in touch with you.
Talk again soon.
P.S. Never devalue yourself. You deserve every penny of what you make as a physician and you should be proud of it!