How to set fees for your medical services that are ‘just right’

One of the great mysteries of medicine for patients is why doctors charge what they do. Some are amazed at the fact that bright young doctors are willing to work long hours for patients whom they do not know, for an income that is not bad, but that is much less than other professions such as bankers command.

Aniruddha Malpani, MD“Patients would be much happier if the medical costs were transparent.”
-Aniruddha Malpani, MD, medical director of Malpani Infertility Clinic in Mumbai, India

Patients admire the fact that doctors are willing to work for 24 hours at a stretch and that they sometimes get up at 2 in the morning for emergencies. It can be an arduous lifestyle that disrupts the physician’s personal life – something that you can’t compensate for even with money.

On the other hand, many patients also feel that doctors charge too much. They envy the Mercedes that some doctors drive and the fact that they might take off an occasional Wednesday to play golf. Many resent the fact that they have to pay hundreds of dollars for medical procedures that may take just a few minutes.

Also, it’s a well-known fact that the fees charged by doctors can vary considerably – not only from doctor to doctor – but from...

Log in or register for free to continue reading
Register Now For Free Already Registered? Log In
This entry was posted in Business of Medicine, Practice Management and tagged , , , , , , , , , . Volume: .