News and briefs: Majority of physicians would opt to retire
With decreased reimbursements and increased demands from the healthcare industry, 6 out of 10 physicians are ready to retire. And it’s not just older physicians: almost 5 out of 10 physicians under 40 would retire if afforded the opportunity. These numbers come from a survey of over 13,000 physicians conducted by The Physicians Foundation.
“It is the latest, and perhaps the largest and most comprehensive of a number of surveys that have identified wide, deep and increasing discontent among the nation’s physicians regardless of their age, gender, specialty, location, or employment status,” writes editor John Commins in a HealthLeaders Media article.
In the survey, 58% of respondents rate their professional morale as somewhat negative or very negative. About 84% say the medical profession is in decline. When asked why, the top three answers were:
· Too much regulation/paperwork (79%)
· Loss of clinical autonomy (65%)
· Physicians not compensated for quality (59%)
A 2008 survey from The Physicians Foundation found that if given the choice again, 73% of respondents would choose to be a physician. In the 2012 survey, this number dropped to 67%.