A TD Bank survey found the nature of physician ownership has changed within the last several years, with more females becoming owners of physician practices, according to NJ Biz.
The survey analyzed 340 U.S. small medical practices.
Here are five findings:
1. The survey found 36 percent of women reported being practice owners for less than five years. Dan Croft, TD Bank's head of healthcare practice solutions, attributed the rise of female ownership to more female college graduates.
2. Forty-seven percent of male respondents have been in practice for more than 20 years.
3. While respondents reported rising expenses, 30 percent to 50 percent of the practices remained profitable.
4. Based on respondents' feedback, TD Bank concluded the physician practice outlook is generally positive with many younger physicians and female physicians using technology to improve efficiency.
5. Merely 14 percent of respondents expected to shut down their practice.
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