With all the news about the subprime mortgage industry’s collapse, 4 dollar a gallon gasoline, and the resultant economic downturn, it is interesting to see a segment of the health care industry affected. And when I say “health” take it with a grain of salt. The average plastic surgeon is losing elective cosmetic patients hand over fist! People are simply not dropping the dough they used to to have Botox, face lifts, liposuction , etc. I guess if you are about to lose your house to foreclosure or you are spending 200 bucks a week on gas, the lid lift will have to wait! The ultra-famous surgeons are still doing fine I am sure but the guys (and girls) just starting out and now squabbling over simple laceration repairs like pigeons over crusts of bread! Assuming a patient has insurance or is willing to pay out of pocket, I can now get a plastic surgeon to come in for a simple 1″ lac in the blink of an eye! (not that I routinely call them for this - put patients often want a plastic surgeon for facial lacerations). Some of the new guys are trying to take EXTRA call would you believe! If one guy “steals” as case from the guy on call, all hell may break loose!
God, there are some positive things to economic recession!
Canadian Pharmacy
Come on now. At the very least, foreclosures aren’t exactly affecting the well-to-do to any significant degree. Rich folks all locked in low interest rates back in the day—it’s those who couldn’t have afforded a house were it not for ARMs and liberal lending who are affected. I like to look at foreclosures in my area, and 9 houses out of 10 in my city, for example, in foreclosure are in the “bad” neighborhoods, where those in the subprime market bought houses they could barely afford that are now in foreclosure.
Maybe if the well-to-do were in real estate investment or if their businesses cater to those affected by the crisis, their net worths and/or profits have decreased, but Joe Schmo still has his 5.15% fixed-rate mortgage.
Well, I have heard it from three relatively newly-minted plastic surgeons in my area that their business is way down. I was not aware that a LOT of cosmetic procedures are done on the middle class - not just the really rich. Of course those “recession-immune” rich (which also permeate my area) are still going to get things done - however they tend to go to very prominent and well-established surgeons, not the guy starting out.
People were probably financing their plastic surgery with home equity loans. With valuations flat or falling the well is running dry.
I’ve read stories of banks canceling home equity credit lines on people as well.
With gas up, the media painting a sad story and the house cash-register running out who can blame folks?
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