Physicians identified regulatory/paperwork burdens and loss of clinical autonomy as their primary sources of dissatisfaction. They spend 21% of their time on non-clinical paper work duties, according to the survey, while only 14% said they have the time they need to provide the highest standards of care. About two-thirds (72%) said third-party intrusions detract from the quality of care.
In response to regulatory burdens and other concerns, physicians are seeking alternatives to traditional, full-time private practice.
The survey indicates that only 33% of physicians now identify as private practice owners, down from 49% in 2012, while 58% identify as employees, up from 44% in 2012.
A growing number of physicians (13.5%) said they will seek non-clinical, administrative jobs, 21% will cut back on hours worked, 11.5% will take temporary (locum tenens) positions, 10% will switch to part-time practice, 14% will retire, and 9% said they will switch to concierge medicine.
Docs Drop Out
Physicians also signaled that they're disengaged from key initiatives of healthcare reform. Only 43% said their compensation is tied to value. Of these, the majority (77%) have 20% or less of their compensation tied to value. Only 20% are familiar with the Medicare Access and CHIP Reauthorization Act (MACRA) which will greatly accelerate value-based payments to physicians.
While 36% of physicians participate in accountable care organizations (ACOs), only 11% believe ACOs are likely to enhance quality while decreasing costs. Physicians also are dubious about hospital employment of doctors, another mechanism for achieving healthcare reform.