Business Liability Insurance TX

Business Liability Insurance TX

Internist Doctors in the Lone Star state are Experiencing Hardships, Heres Where

As is the case in other geographicities in the country, Internal Medicine in Texas is going through many of the same difficulties as other disciplines. Of the roughly sixty three thousand doctors in the Lone Star state, roughly 8000 specialize in Internal Medicine. For many of the 7713 Texas internist doctors the future is uncertain. Of those 7713 physicians, 7369 are M.D.’s and 344 are D.O.’s. While there may be some differences in training, both M.D.’s and D.O.’s are equally certified and able to become an doctor of Internal Medicine. An physician of Internal Medicine usually has at least 10-12 years of education including a B.A. (undergraduate) in a healthcare or science related area, a medical doctorate (graduate, Alleopathic or Osteopathic), and an accredited Internal Medicine residency (post-graduate).

Until the recently approved reforms to healthcare are realized, and to the current political shifts and prospective resulting consequences are also, the healthcare industry will be in limbo. The current climate in the industry is very similar to what happened when Hillary Clinton was rallying the push for healthcare reorganization in ‘93. Only when it becomes apparent what the future will be, hospitals and physicians are unable and uneasy to make plans for the trying times to come.

The new health care reform, recently signed into law, from Obama claims to:

* makes insurance providers more reasonably priced by providing the most prominent middle class tax decrease for health care in history, reducing premium
costs for many millions of families and small business owners who are priced out of coverage today. This helps over thirty one million Americans afford health care who do not get it today – and makes coverage more affordable for many more.
* set up a new competitive health insurance market giving tens of millions of Americans the exact same insurance choices that members of Congress will have.
* bring greater liability to health care by laying out appropriate rules of the road to keep the cost of coverage down and prevent insurance industry abuses and denial of care.
* end discrimination against Americans with pre-existing conditions.
* put our budget and economy on a more secure path by reducing the deficit by $100 billion over the next ten years – and about $1 trillion over the second decade – by cutting government overspending and reining in waste, fraud and abuse.

It is also clear from their presentation that they are getting ready for attacks based on expenditure to the American Taxpayer and to the idea that both Social Security and Medicare are at risk, that the change will simply rob Peter to pay Paul. These concerns are addressed upfront: “The Act will protect and preserve Medicare as a commitment to America’s seniors. It will save thousands of dollars in drug costs for Medicare beneficiaries by closing the coverage gap called the “donut hole.” Doctors, nurses and hospitals will be incentivized to improve care and reduce unnecessary errors that harm patients,” and further they state: “The financial health of Medicare will improve and guaranteed benefits will be preserved by ending the 14% average overpayment to private insurance companies under the Medicare Advantage (MA) program.” So not only are they protecting Medicare, but they are reducing costs, almost a hat trick.

Weak Economy

With the current economic decline and enormous job losses across the country, these have unswervingly affected the cash flow to doctors and physicians. When jobs are lost, the loss of healthcare benefits is unavoidable, and so access to health care is also. However, many healthcare providers are delaying retirement since watching the stock market destroy their retirement assets. This delay will result in a much smaller number of employment opportunities being offered and graduating residents not finding as many existing job opportunities as before. Residents today appear to prefer not to commit to less pleasing jobs, and are choosing locum tenens opportunities. They are also putting off committing to full-time employment because of the scarcity and lower remunerations. So in the predictable future, it appears there will be a deficit of good job opportunities available.

Demographics: TX and USA

In the United States, the population of 65+ is going to double by 2035 and will reach its high point being almost one fifth of United States population. In the Alamo state alone, 62.2% of the inhabitants are between 18 and 65. That accounts for approximately 15 million more people who will have passed the retirement age in 45 years. There are currently less than three, some studies show less than two, million individuals over the age of 65 to date. At the current rate of population growth for the state, that is a very steep and sudden climb for any demographic. Even though older citizens are healthier than previous generations, the numbers of disabled and chronic condition sufferers are on the rise. So the demand for health care will rise for the next 25 years and beyond. This is the driving force behind the constant growth for demand of physicians, which may result in shortages of available medical services.

Aging is also directing the supply of physicians. Up to 1/3rd of the current six hundred and fifty thousand practicing physicians will be considering retiring by the year 2020. Texas will be left with less than 30,000 of todays physicians to care for over 30 million people. A shortage of primary care physicians, such as Internal Medicine physicians, is a special concern due to this, and also the selection of younger doctors to choose to further specialize. The reason behind this is that further specialization beyond primary care is needed for higher salaries to pay for their expensive education. The deficiency is expected to hit rural and underserved areas the hardest.

Even with the health bill finally signed into law its effect on our health care is not known. By 2014 their will be an enlargement in the enrollment into health care insurance programs. This increase when, combined with the long term aging of the populace, should push demand for services and therefore cost higher. However, no one yet knows what will happen to reimbursement rates from Medicare and this new program. The question is will there be rate a cut of reimbursement rates for different specialties by Medicare and this new program that may conversely become a decreasing factor of the income of all specialties, including Internal Medicine.

Clearly the Obama administration has its arms full. We are getting older and there are fewer young people to carry this growing financial task. The Sins of the Fathers…..