You know the “rich doc”. He’s the one that plays golf every Wednesday, drives a fancy car, and always sports a suntan. Right? Wrong. Getting a medical education is a financial back breaker. By the time the “soon to be rich” doctor graduates medical school, he is $200,000 in debt. And his big payday after graduation is to work as a resident up to fifteen hours a day for seven days a week for a meager salary. In fact, I spoke with a physician at the hospital the other day who told me he compared himself to his uncle who is an electrician. In terms of income, he wouldn’t equal his uncle’s income until he is fifty-five. And when they eventually go into practice they are buffeted by malpractice insurance, electronic medical records, personnel issues, and hospital requirements. What does this mean? It means that these graduating doctors are not doing it for the money. It’s because they are devoted professionals who are truly interested in the well being of their patients. So, the next time you see the insurance bill it’s not about the doc.
