Hey guys and welcome back to the Medical Entrepreneur podcast.
My name is Adam Sewell, and this is where we teach you how to break free from traditional medicine, to carve the career of your dreams and still do what you love.
And one of the big reasons why we get so many people who follow this podcast is because they land their first job at a practice or in a hospital…
And it’s not how they imagined.
They spend their whole lives in college and learning about the subject they’re super passionate about…
But once they see the work they’re doing and the rate of pay they get for it… they really don’t enjoy it!
So in today’s episode, we’re gonna be talking about how mainstream medicine workers are having their pay cut every single year.
And… I’m gonna show you what you can do if you want to break free and work on your own terms.
So make sure to check it out!
What You Need to Understand About Mainstream Medicine…
So here’s the thing…
The entire mainstream medicine industry operates on a series of codes. So you might be familiar with some of them like ICD9 or ICD10 or CPT codes.
All of these codes like this are developed by the American Medical Association, who then licenses it to the federal government or Medicare to basically use in their practice.
Medicare then sets a price for all of those codes and says, “Hey, this is what is the standard price,” and depending on the contractor throughout the country with Medicare, they set a certain price depending on your location, so San Francisco will be a lot more expensive than the middle of nowhere in Kansas.
But basically, the prices are essentially fixed. So the federal government actually determines how much pay is going to be allowed for each procedure that is done.
And private insurances like Blue Cross, Blue Shield, Aetna, United Healthcare, Humana, all of these kinds of guys, what they do is they basically go off of that reimbursement and they offer a percentage of that.
But the truth is that now these companies will offer you about the same rate as Medicare, or even less potentially, which is sad to see, since they were the cheapest.
And part of the reason why they were cheapest was because the Medicare system had consistently cut reimbursement over and over and over the last 20 years.
In fact, if you look at reimbursement for almost any procedure, no matter the complexity of it, no matter the danger of it, it has been cut simply to almost nothing.
For example, if you are going to do a coronary artery bypass graft you will have to…
- cut someone’s chest open
- rip open their chest
- take veins from their leg
- graft them into their heart
- stop their heart
- put them on a pump
- graft them for the heart
- restart it
- sew them up
And not to even mention…
- the risk of finding the patient
- talking to them
- doing all the research on their history
- understanding if they’re a good candidate or bad candidate
- reading their imaging studies to understand where the coronary artery blocks are then
- taken to the operating room,
- prepping them opening their chest
- surgically stopping the bleeding from that during the actual surgical procedure
All of that, pays just $1,000.
Which makes absolutely no sense whatsoever!
This is the real issue in the mainstream medical industry, no matter how many hours you work or how many patients you see, your pay is always fixed.
Here’s Another Reason Your Pay is Fixed…
See the truth is, even if your pay rate does start to move… it’s only going in one direction…
And that’s down.
The reason why, is because in 2020, the US government started to do something which it had never done before… it started to print MASSIVE amounts of money.
20% of all the US Dollars that have been in supply were printed in 2020. That’s how bad the situation is.
This led to some heavy, heavy inflation. Basically the price of everything went up, from food and gas all the way to rent prices.
This means that if your pay is standing still, and inflation is on the increase, there is only one way that your pay rate will go.. And it’s down.
In order to break free from this, the simplest way is to start your own practice.
This is what will allow you to set your own price, choose how many patients you see, and even hire staff to scale things up.
If you think you’re ready to start your own journey as a medical entrepreneur, make sure to follow us on social media and subscribe so you never miss an episode!
Additional Resources:
– Join my challenge here!
– Check out my website here!
– Sign up for our Aesthetics training here!
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Medical Entrepreneur is a podcast dedicated to those who are trying to escape mainstream medicine and start building the healthcare business of their dreams.
Subscribe on YouTube or follow us on your favorite podcast platform!