Is Medicaid really that bad?

A primary care physician advised me to check the insurance demographics before moving to a location to open a practice. He said Medicaid pays very bad and you cannot make a living if you see these patients. If someone sees 50% Medicaid is it really that bad? Are 10 Medicaid equal to 5 private insurance? Is it state dependent? Thanks in advance.
Source: Student Doctor Network - Category: Universities & Medical Training Authors: Tags: Podiatric Residents & Physicians Source Type: forums