Reasons Not To Become A Doctor

No one ever said being a doctor was easy. School and training go on seemingly forever, and once graduation arrives, doctors work long hours and are faced with life-and-death decisions daily.

There were once rewards. For decades, doctors earned hefty paychecks, had autonomy and respect. Those benefits are fading, and as a result, so is the number of doctors. Within the next 15 years, the United States will experience a shortage of between 90,000 to 200,000 physicians, according to the recently published Will the Last Physician in America Please Turn Off the Lights: A Look at America's Looming Doctor Shortage.

The American Medical Association recognizes there are shortages in certain geographic areas and in certain specialties. Part of that is due to the aging population and a stagnant number of medical school applicants.

Bigger reasons not to become a doctor

There are, however, other significant reasons not to become a doctor. They include the increasing costs of medical malpractice coverage, higher practice costs, lower insurance reimbursement rates and insurance-company restrictions resulting in less autonomy over how patients are cared for.

Insurance cutting into salary

Insurance has become a loaded word. One-third of the country is insured by Medicare, and over the next nine years, the government program plans to cut payments to physicians by about 40%, while practice costs are projected to increase 20%, according to the American Medical Association. The first of those cuts will take place in July, when the reimbursement rate to doctors will drop by 10.6%. The next cut of 5% will occur in January.

Medical school enrollment is down

The Association of American Medical Colleges projects that America needs a 30% annual increase in medical-school enrollment in order to keep up with need for doctors. In 2012, compared with 2002, medical-school enrollment will be up 21%.

The future of medicine

Doctors have to practice defensive medicine, and their insurance rates are so high," says Matray. "But rates are leveling off and coming down right now. However, if history repeats itself, they will go up in a few years. A lot of doctors right now are not encouraging their kids to be doctors."