U.S.: Doctors driven to bankruptcy

[Shiloh]

Source: http://money.cnn.com/2013/04/08/smallbusiness/doctors-bankruptcy/index.html?hpt=hp_t2

Doctors driven to bankruptcy
By Parija Kavilanz @CNNMoney April 8, 2013: 11:20 AM ET

NEW YORK (CNNMoney)
As many doctors struggle to keep their practices financially sound, some are buckling under money woes and being pushed into bankruptcy.

It's a trend that's accelerated in recent years, industry experts say, with potentially serious consequences for doctors and patients. Some physicians are still able to keep practicing after bankruptcy, but for others, it's a career-ending event. And when a practice shuts its doors, patients can find it harder to get the health care they need nearby...

 

[AlaskaDenise]

Re: U.S.: Doctors driven to bankruptcy

from article:

"The weak economy has taken a toll on doctors' revenue, as consumers cut back on office visits and lucrative elective procedures, said Guy, a bankruptcy attorney in Nashville with Frost Brown Todd LLC.

Doctors also blame shrinking insurance reimbursements, changing regulations, and the rising costs of malpractice insurance, drugs and other business necessities for making it harder to keep their practices afloat......"

This article seems to be referring to individual physicians. How does that compare to those who are part of an HMO, group practice, hospital staff, etc? Sharing costs (& losses) and negotiating lower insurance rates for a group may keep those physicians in practice.

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