60% of Docs Wouldn't Recommend Their Profession as a Career
"It is kind of a generational thing. If you were to talk to docs who came out of training 25 or 30 years ago the vast majority of them would go out and join a small group of two or three docs, they would hang a shingle and open their own practice. For those folks things like Obamacare and expanded Medicaid or more government rules are a definite dissatisfier. They result in lower rates of reimbursements. They also result in less control over how you decide to run your practice. But it is not like it is any one thing such as Obamacare. This has been going on for many years. If you went back a few years, you'd see the same thing although the percentage wouldn't be this high but that is probably true of the docs who are older and heading towards retirement age."
Manning says dissatisfaction among older physicians will not necessarily affect the decisions of younger people to enter medicine.
"The folks who are coming into the business today know what they are getting into," he says. "Most of them tend to lean towards employment instead of being out on their own. You see the numbers of physicians who prefer to have someone else run the business so they don't have to worry about the overhead."
Even with all the carping by physicians, Manning says it remains a good living. The key is to ensure that would-be doctors understand what they are undertaking from the onset.
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