How much are U.S. docs worth? Figure it out backward
Regarding the Vital Signs blog post “How much are U.S. doctors worth? Depends who you ask” (ModernHealthcare.com, June 24), figure it out backward. How much should a doctor have at retirement, assuming a conservative investment strategy? Calculate the time available for earn- ing/saving from the age at end of residency to age of retirement and assume a percentage of income saved. Don’t forget the Internal Revenue Service.
Considering the time-value of money, and the fact that doctors don’t earn any significant money until they are eight years older (or more) than their college classmates, smart people will ask themselves if they should employ their curiosity and intelligence in a more lucrative and comfortable fashion.
Maybe the U.S. should just hire French doctors and the smart American kids will choose careers in insurance and hospital administration.
Dr. Mark Schnitzer Chief medical officer Ver2 Digital Medicine