A recent Wall Street Journal report painted a picture of the decline, highlighting that the territory has just 90 obstetricians and 800 pediatricians for a population of 3.47 million. While the population is declining — it dropped 9.1 percent over the past decade — there are less patients to support the underfunded system, leaving many physicians with nowhere to turn but the mainland. According to WSJ, a pediatrician in Puerto Rico earns roughly $27 for a patient visit, compared to $200 in mainland U.S. states.
Its healthcare system is withstanding blows from all sides. The island was a hotspot for pharmaceutical and medical device makers after World War II when the government provided federal tax credit incentives for such businesses in Puerto Rico. However, those tax credits were ended and most companies have left, according to the report. Roughly half of the island’s residents are dependent on the government for healthcare, but the territory’s Medicaid grant is on course to run out next year. On top of that, Puerto Rico’s Health Insurance Administration hasn’t been able to get a bank loan for two years and lost access to loans from the Government Development Bank, according to the report.
Now the burden is falling on the shoulders of physicians, who are forced to work long hours for little pay. Many are leaving the island — which could make the economic situation worse.
Read the full article here.
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