How Do Doctors Make Money? Ways For a Doctor to Get Paid
How do doctors make money?
Being a doctor is one of the most respected professions all over the world. But have you ever thought how doctors make money? In fact we know they charge you for fees every time for their consultation. But is it the only way doctors makes bucks?
First of all let us begin this post with a disclaimer that doctors are just another breed of professionals who are looking at earning money from the work they do. And what is wrong in it if a doctor is well paid for the job he does? Nothing. But when you look closely at the ways a doctor can make money, it seems like the best job for anyone. No wonder we can see a lot of students clamoring for the MBBS seats every year. In India well off parents are happy to give away 50 -60 lakhs for admission to a medical college (as donation). This mentality arises from the well known knowledge that the children will have a bright future as a doctor and will be able4 to earn back the money spent with profit.
So let us see the ways a doctor can make money. How to make money as a doctor?
Being a doctor is one of the most respected professions all over the world. But have you ever thought how doctors make money? In fact we know they charge you for fees every time for their consultation. But is it the only way doctors makes bucks?
First of all let us begin this post with a disclaimer that doctors are just another breed of professionals who are looking at earning money from the work they do. And what is wrong in it if a doctor is well paid for the job he does? Nothing. But when you look closely at the ways a doctor can make money, it seems like the best job for anyone. No wonder we can see a lot of students clamoring for the MBBS seats every year. In India well off parents are happy to give away 50 -60 lakhs for admission to a medical college (as donation). This mentality arises from the well known knowledge that the children will have a bright future as a doctor and will be able4 to earn back the money spent with profit.
So let us see the ways a doctor can make money. How to make money as a doctor?
- Consultation fees
If you are visiting a doctor who runs a private clinic you will have to pay him the consultation fees every time you visit him. If suppose the doctor works for a big specialty hospital then hospital will charge you for the service taking along their cut too. Reasonable. This way of making money is known to everyone and is accepted by the general public.
What is in it for the doctors? If you watch closely the system, you can see that the doctor will recommend every patient to only this lab and in return the lab pays the doctor a percent commission for each patient referred. Here what happens is the total cost of laboratory test increases steadily as the labs have to pay a n certain sum of money to the doctors again. No wonder health treatment In India is becoming too costly.
- Commission from pharmacy companies
A doctor will be approached by the so called medical representatives working for the pharmaceutical companies and will be offered various offers to recommend their company product to the patients. Remember that the normal patients would not dare to go against the doctors words and is sure to buy the medicine recommended by the doctor.
The offers given to the doctor even includes 30% of the MRP of the medicine. Some doctors have also got the offers like foreign trips free of cost by the companies.
The offers given to the doctor even includes 30% of the MRP of the medicine. Some doctors have also got the offers like foreign trips free of cost by the companies.
- Commission from the nearby labs
If suppose the doctor is working privately in a clinic, you can expect that the doctor will recommend you to the laboratories nearby for various tests.
What is in it for the doctors? If you watch closely the system, you can see that the doctor will recommend every patient to only this lab and in return the lab pays the doctor a percent commission for each patient referred. Here what happens is the total cost of laboratory test increases steadily as the labs have to pay a n certain sum of money to the doctors again. No wonder health treatment In India is becoming too costly.
- Commission from diagnostic centers
This way of making money is exactly similar to the point mentioned above. Doctors refer the patient to a particular diagnostic centre for the X-RAY tests and other test and in return get paid sitting at home. This way of commission system is the real disaster of the Indian health policy which makes the doctors the king.
What is extremely difficult to understand is this small eventuality. An MBBS student while writing his exam papers will be happy to write down the word “CETRIZINE” as the medicine for common cold. After graduating as a doctor when a patient comes in front of him for common cold he would have no issues writing down “CETZINE” on the prescription paper.
Please note that the doctor has not recommended anything wrong. But he has recommended the branded version of the drug CETRIZINE – CETZINE. Only difference seems to be that while CETRIZINE costs Rs.1.20 for 10 tablets, the branded drug CETZINE will have a price tag of Rs.35 for 10 tablets.
Do you really feel that this method of squeezing the patients directly and indirectly is the best way for doctors to make money?
What is extremely difficult to understand is this small eventuality. An MBBS student while writing his exam papers will be happy to write down the word “CETRIZINE” as the medicine for common cold. After graduating as a doctor when a patient comes in front of him for common cold he would have no issues writing down “CETZINE” on the prescription paper.
Please note that the doctor has not recommended anything wrong. But he has recommended the branded version of the drug CETRIZINE – CETZINE. Only difference seems to be that while CETRIZINE costs Rs.1.20 for 10 tablets, the branded drug CETZINE will have a price tag of Rs.35 for 10 tablets.
Do you really feel that this method of squeezing the patients directly and indirectly is the best way for doctors to make money?
Comment your thoughts
Tags: commission system, doctor conscience, doctors make money, doctors vs patients, making money
Subscribe to:
Post Comments (Atom)
Share your views...
6 Respones to "How Do Doctors Make Money? Ways For a Doctor to Get Paid"
This is a really interesting article. As an aspiring doctor myself, I would like to think that my patients in the future will not be afraid that I might be more motivated my monetary incentives than their health. Doctor's recommending a specific medication even if they don't think it is the best one for the job is in my opinion extremely unprofessional. While doctors have the potential to make a lot of money, they also have the potential to do a lot of damage when thinking about their own monetary wants rather their patient's needs.
3 June 2012 at 06:26
Let us hope that every aspiring doctors will follow your path.
3 June 2012 at 07:12
thanks for this great article... i will share this to my doctor friends
5 June 2012 at 06:24
this is a very helpful post.. thanks for sharing. :)
5 June 2012 at 06:48
Doctors do invest so much on their specialization before they are able to earn.
5 June 2012 at 07:13
I agree that Doctors earned well, thanks for this post too!
5 June 2012 at 07:19
Post a Comment
Comment your Ideas here