Will Physicians Stay in Private Practice? 20 Statistics Based on Income

Jackson Healthcare released the report "51 Statistics on How Income Impacts Physicians in 2014."

The report includes statistics on payer mix, healthcare reform and career outlook. The majority of physicians whose income decreased in the past year were more likely to say they won't remain in private practice because of overhead cost increases than those who experienced increased income.

Here are 10 statistics for physicians who had income decrease in the past year:

•    76 percent said they would not remain in private practice because overhead was too high
•    69 percent said they do not have partnerships with insurers, hospitals and local companies to provide care to patients and the community
•    61 percent said they are unlikely to encourage a young person to enter the field
•    48 percent said they do not use advanced practice professionals
•    43 percent said they were dissatisfied with the practice of medicine
•    40 percent say they schedule less surgical procedures on a surgery day this year than they did last year
•    40 percent said the outlook for a career in medicine in 2014 is generally negative
•    39 percent said the number of patients they see in an office day has decreased
•    14 said they are strongly considering leaving the practice of medicine or retiring
•    11 percent say they have made the decision to practice medicine part-time or on assignment

Conversely, among those who experienced a pay increase over the past year:

•    91 percent say they will definitely be practicing medicine in 2014
•    45 percent said the outlook for a career in medicine is generally favorable
•    45 percent said they are very satisfied with their careers in medicine
•    43 percent said the number of patients they see in an office visit during the past year has increased
•    41 percent said they chose hospital employment over private practice because they wanted to be doctors, not business people
•    41 percent said they use nurse practitioners
•    43 percent said they have partnerships with insurers, hospitals and local companies to provide care to their patients
•    40 percent said they use physician assistants
•    35 percent said they are very likely to recommend a career in the field to a younger person
•    33 percent said they see/care for/round on more patients in a single hospital shift
•    26 percent say they work eight hours a day
•    26 percent are hospital employees
•    16 percent say they use foreign medical graduates

More Articles on Practice Management:

28% of Orthopedic Surgeons Currently, Plan to Participate in ACOs
10 Ways to Improve Collections at Medical Practices
7 Ways to Earn Respect, Rather Than Demand It

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