Very interesting.
But I think this is part and parcel of a larger picture. Yes, physicians are getting squeezed. But so are all folks who act as though high credentials still guarantees a good income. I think there is a shift from credentials to competence. If you are a fantastic electrician or plumber or car salesman or whatever, you are extremely likely to do quite well, financially.
It used to be that if you were competent enough to jump through the right hoops, you could secure for yourself (and your future family) a good living. That is still partially true, but now the issue is based to a large extent on whether you are good at whatever you do (at least in the private sector–there are far fewer demands for good performance in the public sector). It’s no longer enough just to be a ____ (fill in the blank), you have to be a good ___. And THAT is a profound argument against government health care.
Does it require more vigilance and care from “the public?” Yes. But there are HUGE benefits. No, you don’t have some sort of nanny state to make sure that your pillow is fluffed. And there will be those whose pillows go without fluffing. But then again, you don’t have a government intruder who has a key to your house and whose job it is to come in when it is convenient for him (not for you, and often un-announced) and fluff your pillow. And while he’s at it he’ll make sure that the temperature on your water heater is within government standards and turn it down if he needs to bring you into compliance. No, you are your own person. You are free.
I think that move from credentials to competency is very good news for most of us. It’s a radically conservative stance.