You will have fewer people entering the profession as the rewards are reduced. But that's for the future.
Are you familiar with the term Brain Drain? It was invented by the British after professionals packed up their bags and left the country. That's what some Doctors will do. They will go overseas.
Physician practices and groups, with the means, will lease cruise ships. They will be stationed 15-20 miles offshore.
The new industry of the future will be ferry service to and from these ships, carrying the well to do and their foot lockers full of cash.
>OK I’ve heard this all before. Doctors will leave their practices.What are they going to do?<
The specialists do make quite a bit of money. Most of them can afford to pay off their loans and get out. I am betting that they do. It wont be cost effective for them to stay in.
between paying for loans, still having to pay high insurance to continue doing business, they would be better off to treat patients for cash under the table and stay away from government programs.
As in Canada right now, many physicians take bribes to give service or have pulled out of the public health care field entirely. They now charge each patient for services.
You can wait 12-18 months for a routine blood exam in Canada now through their system, or pay $800 - $900 out of you own pocket for it and get it that week.
Similarly you can have surgery done when the government can find a doctor to do it and budget your surgery or pay for it in cash and have it done immediately.
The wealthy and powerful will always have the best doctors, but the people that this monstrosity is being sold to will be shorted by health care professionals far and wide.