A buddy of mine, an urologist, works 60 plus hours a week. His income has dropped 25% in the last 3 years. Why? He’s angry and frustrated having spent so many years educating himself and still working slavish hours. For what? Well the American Medical Association (AMA) has a partial answer.
The American Medical Association considers itself the elite professional organization. The AMA, an old medical association, represents 34% of the nation’s doctors. It has seen its membership decline almost a half from a decade ago. It had to do something. It recently voted in favor of collective bargaining, forming unions of doctors to level the playing field with powerful managed care organizations.
The health care industry has gone through roiling change and disruption including cost containment, consolidation, capitation, and managed health care. Every part of the health care industry has been impacted. In a few year, you may see your physician on the picket line blaspheming your HMO.
What happened to my buddy the urologist? He’s now a Brand U selling therapeutic magets and having a blast doing it.