Waszul argues that high salaries for doctors are part of the problem of high medical costs for Americans, but Gary Price, MD, and Tim Norbeck wrote a rebuttal for Forbes that argues the following: doctors get to legally limit their competition. The United States, unlike other countries, requires physicians to complete a U.S. Those are both set by the Accreditation Council for Graduate Medical Education, a body dominated by physicians’ organizations. Economist Yarek Waszul writes that “the supply of doctors is tightly controlled by the number of medical school slots, and more importantly, the number of medical residencies. There are a lot of reasons for this, with some healthcare experts arguing that it has to do with the way that the supply of doctors is limited by medical associations. In fact, we pay nearly double what most other similar economies pay their medical providers. Here in the US, we pay our doctors more than anywhere else in the world. Working in the United States is already the best way to ensure the highest potential salary for a doctor. However, understanding how the money you pay for medical care turns into a doctor’s salary is an interesting process! Let’s look at how doctors in America get paid. On the contrary, most doctors’ main income comes from their fairly stable salaries, not from speaking engagements or research partnerships. The salaries of athletes vary drastically from year to year, and much of their pay comes from contracts that value certain accomplishments (namely: wins!) over simply getting the job done. Ultimately, we’ve learned that no, being a doctor isn’t like being an elite athlete. This made us wonder, is being a doctor sort of like being a famous athlete, who gets paid not just for doing their job but also sponsorships, partnerships, and endorsements? Stephen Burkhart, an orthopedic surgeon, who has made $65.3 million through partnerships with pharmaceutical companies. Some doctors in the database have received nothing at all, or perhaps $10 or $20 here and there as reimbursement for “promotional talks, research, and consulting, among other categories.” However, there were medical providers like Dr. All of this data comes from federally mandated reporting of information that doctors have to provide. A few years ago, the nonprofit media organization ProPublica developed a database where patients can look up their doctors to see if they have been paid by pharmaceutical or medical device companies. Money, medicine, and insurance are a messy world for outsiders to understand. Understanding the pay infrastructure of the medical industry is no easy task! There are a lot of moving parts to payroll in the medical world, and often, workers are siloed into specific areas that do not have much overlap.
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