Dell's Bottom Line

By Dell Hill

“Count your blessings” is always good advice.  Today, I’m doing just that over the blessing of finding a personal physician who accepted me as a patient, despite the fact that payment for my medical services is exclusively through Medicare and Medicaid.  Most doctors are simply not taking Medicare/Medicaid patients because to do so could speed up the process of going broke.

“You were lucky”, he said with a smile.  “You were still listed in our database as having been a patient before you moved to Texas and, now that you’ve returned, you’re still on our list.  When I saw your request I recognized the name and approved you.  Otherwise, you’d probably still be looking (for a doctor)”.

So why is this happening?  Why are medical doctors closing up shop, filing for bankruptcy, and not accepting Medicare/Medicaid patients?  I wanted to know, so I asked.

His answer surprised me.  I’ve never thought of doctors as being poor or “going broke”.  In fact, the opposite is true.  I’ve always thought of doctors as being well-to-do - rich, even.  And then I saw this piece posted by CNN Money and it all started to make much more sense.

CNN:
NEW YORK (CNNMoney) — Doctors in America are harboring an embarrassing secret: Many of them are going broke.

This quiet reality, which is spreading nationwide, is claiming a wide range of casualties, including family physicians, cardiologists and oncologists.

Industry watchers say the trend is worrisome.  Half of all doctors in the nation operate a private practice.  So if a cash crunch forces the death of an independent practice, it robs a community of a vital health care resource.

“A lot of independent practices are starting to see serious financial issues,” said Marc Lion, CEO of Lion & Company CPAs, LLC, which advises independent doctor

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