As health care reform begins to take hold in America, we are beginning to see some significant departures from our “ways of old.” The new forms of payment that are taking hold seem so foreign to us because they are in direct opposition to our past system. Our previous method, primarily fee-for-service, was one where there was an incredible amount of wiggle room for what payments should be. Individual hospitals or practitioners would negotiate with an insurance company as to what their reimbursement should be for a given service or procedure. This has led to enormous disparities in what individual hospitals may receive for the same procedure and the same outcome.
To begin our examination of doctors’ salaries, let us first look at the real cost of becoming one. According to Medical School Admission Requirements (MSAR), the data warehouse for medical school application services, less than 60 percent of all applicants to MD programs are accepted.