In the late 1960s, Dr. Andrew Lee’s father opened a private medical practice in the Chinatown section of Washington D.C. In 1999, Andrew took over his father’s practice where he and his wife, who is also a doctor, work together to care for the local residents. Over the years, the Lees’ practice has treated over 10,000 patients, but that is about to end.
The decision to close the doors on the family practice was not an easy one to make and one that has been a topic of discussion for a few years. Part of the reason for their decision is due to the insurance companies that add a lot of administrative time and cost with things like pre-authorizations.
However the final nail in the coffin is Obamacare. Andrew recently stated:
“I think all citizens in America should be provided with some access to health care. But, I am not sure this is the right way to shovel a massive law through. My anticipation is that it will be modified, some.”
“My wife and I would have this discussion for years, but it was not until three years ago, did I realize we are really fighting a losing battle.”
“I am not sure if it is 100 percent related to government, as much as it is also the health insurance companies. They tend to have a lot of factors in there that make you do things like pre-authorizations, which increase your administrative time.”
“In my view, the two winners for the Affordable Care Act are the insurance companies, because more people will have to purchase insurance, as well as the pharmaceutical companies because many more people will be buying medications—they are the two lobby groups that have fared pretty well from this.”
I agree that the insurance companies are going to reap a plentiful harvest with Obamacare. At the moment, my wife and I are trying to purchase our own health insurance. We are still shopping and comparing, but it looks like it will cost us somewhere between $700 and $900 per month.
The federal government will be the biggest winner because of the $3,700 per year in increased taxes for everyone in addition to the millions of additional tax dollars they will receive as the penalty aspect for Americans not having health insurance.
The Lees’ will close the doors to their private medical practice but they will continue to practice medicine at a new John’s Hopkins University medical facility that is opening up in the D.C. area. They plan on taking all of their patient records with them and hope that their patients follow them to the new facility.
This will be another growing trend in the medical field as many private practice doctors will be forced to close shop and either join larger medical groups or find new careers. And when I read more and more reports like this, I can’t help but recall the words of Nancy Pelosi who keeps trying to tell everyone that Obamacare will help increase access to medical care.