We all know that when supply increases, prices go down and, of course, that product is more readily available. If there’s a glut of potatoes, chances are good that the grocery stores are going to have a sale on them, offering substantial savings. Conversely, when there is limited supply of something, prices go up and fewer people can have that item. (The iPhone comes to mind. By limiting its availability, they’ve made the things wildly popular, desirable, and profitable. )
As we consider ways to improve health care and its costs in this country, perhaps we should be thinking of physicians as the valuable economic resource to society that they are. We clearly have an impending shortage of physicians to address the demographic tsunami – Baby Boomers entering Medicare age. And the lead time to train adequate capable physicians to address this trend is measured in years, not months. The fewer physicians available to take care of the public, the more expensive care will be. We should be doing all we can to make the practice of medicine inviting, so there are enough talented individuals to deliver care…. Makes sense, doesn’t it?
