Jackson Healthcare, the parent company of Jackson & Coker, put together a comprehensive report on current physician trends that everyone in healthcare administration needs to know. The report covers physician supply and demand, the impact of government regulations, compensation and reimbursement, physician outlook and satisfaction, and different practice environments. Jackson Healthcare drew upon its proprietary research for the report.
Key findings include:
-Reimbursement cuts were one of the top two reasons physicians cited for selling their medical practice.
-Physicians whose income increased in the year are more likely than those whose income decreased to:
- Be younger than 45.
- Be very satisfied with their career.
- Encourage young people to enter the field.
-Satisfied physicians are more likely to:
- Be between 25 and 44 years of age.
- Work 8 hours per day.
- Be employed and have never worked in private practice.
- Have chosen employment for lifestyle reasons.
- Have a greater number of patients with private insurance.
-Sixty-eight percent of physicians who sold their practice reported approaching the hospital to initiate acquisition talks.
-Primary care practices make up the majority of acquisitions by hospitals.
-Seventy-seven percent of physicians said selling their practice was the right decision.
-More physicians are choosing employment over private practice.
To read the full report, click here.