"Doctors opt-out on Medicare Patients, Banking Money Woe, Economic Correction"
JDC Bullet News Forecasts: Doctors are saying bye-bye, and changing the way they provide patient services.
Doctors are choosing to not service Medicare patients as Congressional cutbacks continue affecting their bottom-line. The July 1st 10.6% cut has been delayed for another year, due to the physician's outcry hitting lawmakers on the Hill hard in this big election year. They should be happy over the delayed reduction, since their plea for higher reimbursements is ignored.
The situation becomes critical for Medicare recipients as doctors elect to retire, even though there are many practicing well into their 70s. It is a sad commentary as other physicians refuse to accept new patients.
A small percentage of doctors are testing the waters changing their practice to a yearly based fee of $1,000 to $1,500. These doctors believe, cutting the bulk of their clients will allow them to spend more time with the patient and better serve those who can afford it. I guess it is a two-way street. . .the doctor benefit: less patients - less work - less stress, and not having to deal with insurance areas in which they have to fight to get paid.
It is highly unlikely this would catch on throughout medical offices in the U.S., as the government should be monitoring any growth. so as not to cripple health care.
Banking Pain and Money Woes:
It's tough, but the bottom has not fallen out of the money industry. A lot of foolish purchases and loans, commercial overbuilding, and greedy speculators are contributing factors to the painful money crunch.
Stocks of one-third of the big banks is down more that 50%, while smaller banks are in a better position to be of assistance as they pickup the slack from big lenders who are becoming more demanding in their scrutinizing of customer loan qualifications and repayment capabilities, a procedure smaller institutions can't afford to overlook.
Money is available, but will be harder to get. Now might be a good time to recheck your credit status and remove any errors.
Economy Happenings:
With home sales starting to creep along, exports enriching the economy, and speculation of oil drops quoted to $110.00 a barrel. . .a very slow recovering should start around the end of the year, despite the foreclosures which will affect the economy into 2009.
Our country has been overdeveloped and increased sales via the Internet is taking its toll on the economy affecting retail store closings into the thousands.
Everything goes up and everything always comes down. We Americans live vicariously, foolishly pampering our whims and taking for granted the decades of prosperity, living for the now with an absence of common sense. . .and a desire for immediate gratification flying by a shoe string.
Despite what appears to be a bursting bubble, a major correction is at hand. A preview warning for the future. A chance to recoup and get it right. It's called a learning curve!
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