Health care landlords feel brunt of Medicare cuts

[JohnWood]

Health care landlords feel brunt of Medicare cuts
http://www.marketwatch.com/story/health-care-landlords-feel-brunt-of-medicare-cuts-2011-11-16

Best to keep an eye on the stocks that are mentioned in this article..like shorting them for instance.

[madfranks]

Maybe I'm ignorant of this, but I didn't know any cuts to Medicare have been made. When did this happen?

[JohnWood]

Doc mamboni can verify this for me..He deals primarily with medicare. Dentists are medicaid providers. Insurance companies have already started to impose their austerity measures back in 2007 (start of financial crisis). My wife did the insurance billing for me for the last ten years. She kept me updated with stealth tactics used by the insurance companies to deny or to delay claims. Insurance companies never announce publicly what they will do in fear of public backlash. Let you tell you, my wife and I are overjoyed that we don't have to deal with insurance companies anymore. It is a racket !!

[mamboni]

Doc mamboni can verify this for me..He deals primarily with medicare. Dentists are medicaid providers. Insurance companies have already started to impose their austerity measures back in 2007 (start of financial crisis). My wife did the insurance billing for me for the last ten years. She kept me updated with stealth tactics used by the insurance companies to deny or to delay claims. Insurance companies never announce publicly what they will do in fear of public backlash. Let you tell you, my wife and I are overjoyed that we don't have to deal with insurance companies anymore. It is a racket !!

Agree with your assessment of the health insurance companies - total national scandal and the government is behind it 100%. Medicare anticipating massive cuts in 2012, something like ~25%. If that happened a lot of docs will close their practices entirely and many will have to stop taking new Meidicare patients out of necessity. Good luck to the boomer turning 65 in 2012 and trying to find a doctor. Docs and hospitals have been able to absorb virtually zero increases in reimbursement over the last 10 years by cutting corners, strongarming vendors, freezing new hires ans using physician extenders. I don't know how much more savings can be achieved - but a 25% cut is not doable without major layoffs and service cuts. My hospital is considered very well managed and efficient at it operates at a 2% margin which is considered borderline terminal in the free market economy. But, that's how the best hospitals operate. Half the hospitals make no money or lose money, subsidies and grants notwithstanding.

Personally, Medicare is a small part of my practice and I can absorb a cut. But if the insurers follow suit and cut as well then I will have a problem. Granted I live well below my means and could live on a 25% pay cut. But I object to the slow grind being applied to doctors and hospitals while private insurers line their pockets with $billions while rationing care and delaying or denying payment in a constant game of evasion. And they can raise premiums and copays on the consumer with impunity. An insurance compnay can deny you any test or precedure and it cannot be sued for malpractice thanks to government immunity. The system is totally corrupt and the hospitals and doctors are totally under the thumb of the insurers and government. The only leverage the docs have is to walk off the job. And that is what I will likely do within 5 years - I've just about had enough of the BS.

[madfranks]

Great post, mamboni. Make sure to make a big stink of it when you do quit, let them all know exactly why you are doing it.

[JohnWood]

Doctor mamboni: You may want to hurry up with that retirement plan of yours..LOL
Wal-Mart looks into expanding services at health clinics
http://www.usatoday.com/money/industries/retail/story/2011-11-10/walmart-healthcare-clinics/51144790/1

[mamboni]

Doctor mamboni: You may want to hurry up with that retirement plan of yours..LOL
Wal-Mart looks into expanding services at health clinics
http://www.usatoday.com/money/industries/retail/story/2011-11-10/walmart-healthcare-clinics/51144790/1

Competition is a good thing - it creates value and forces products and services to be priced at real market levels.

Walmart's initiative sounds like it will attract primarily uninsured; so by definition, it represents a loss leader marketing ploy. Vendors who partner with Walmart to provide this service better be careful or they will go the way of private contractors to the state of Illinois.