Your doctor took a 33% pay cut. Here’s who kept the change

Published August 28, 2026 9:00am ET



The big debate over American healthcare is stuck in a trap. Government officials treat Medicare like a simple math problem on a budget spreadsheet, believing they can balance the books by constantly cutting pay for physicians. This ignores how our bodies work because human life is not just another line item on a ledger, and the medical care needed to keep people healthy should not change every time the government wants to rewrite its budget. 

Right now, independent medical practices across the country are quietly going under. For 25 years, the cost of running a medical practice has gone up, yet main street physicians do not receive the regular inflation raises that hospitals and nursing homes do. When you look at real inflation, Medicare physician pay has dropped by 33% over the past 25 years. Big Healthcare, including hospitals and the insurance industry, benefits the most. This creates an impossible trap for older physicians and new medical graduates alike, as they simply cannot afford to keep local medical practices open.

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.