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HomeBest Practices → My hand surgeon should have been paid $4.5 billion. Instead, he didn't get even $1,000.

My hand surgeon should have been paid $4.5 billion. Instead, he didn't get even $1,000. Print E-mail
Written by Jay Crawford, MD | KevinMD   
Tuesday, 03 September 2019 13:08

I believe that health care providers aren't paid anything close to what they are worth to society. I don't mean this in the sappy emotional sense in which the "value of any human's life is infinite," or any other subjective standard. I am talking about real-world, measurable economic impacts. Using the entrepreneurs' 10% reward as a guide, health care providers create astronomical value for which they are paid a small token. In 2016, self-made billionaire Naveen Jain asked and answered: "If you want to make $1 billion, all you have to do is solve a $10 billion problem." That 10% reward for an entrepreneur's creation is a useful rule of thumb: Jeff Bezos is worth $100 billion because he created a $1 trillion solution to retail sales. I applied this scale to a hand surgeon using a real-world patient - me - and was surprised by the results.

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Last Updated on Tuesday, 03 September 2019 13:13
 


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