Disheartened by increasing regulatory demands and the transition to value-based care, a large number of physicians are considering retirement, according to The Doctors Company's 2018 Future of Healthcare report.
The Doctors Company's report was based on observations of more than 3,400 physicians.
Here are five findings:
1. Seventy percent of physicians wouldn't recommend healthcare as a career. Twenty-six percent are likely to recommend a medical profession to family members.
2. Fifty-four percent of physicians said changes in healthcare are likely to lead them to retire within five years, including 30 percent of physicians under 51 years old. Male physicians, who are more likely to report being surgical specialists, are more likely to retire than female physicians.
3. EHRs negatively impact the physician-patient relationship, according to 54 percent of physicians. Sixty-one percent believe EHRs hurt efficiency and productivity.
4. Sixty-one percent of respondents said they believe value-based care will hurt their practice.
5. Although primary care physicians, surgeons and specialists expressed concern about the viability of independent practices, 75 percent of solo practitioners plan to remain independent.
A Georgia surgeon predicted there will be no independent physicians in five years. A nonsurgical specialist in Utah said, "I am worried solo practitioners are being squeezed out and forced to join larger corporations to survive in today's practice environment, which will negatively affect how patients are treated."