Private/ Small Physician Practice Confidence Increase

Although hospital employment is rampant and there is a lot of media attention on the increase of hospital employment models, our firm still sees a significant number of private practices thriving in this economic environment as well as candidates seeking private or small group employment models.

We consider this an encouraging sign, and Healthcare IT has recently reported an increase of confidence in private and small group physician practices, attributed to implementing new technology. According to a recent article, 60% of physicians in small or medium-sized practices say technology has made things easier for them, and nearly half say business is better this year compared to last, according to a new survey released today by EMR vendor Practice Fusion.

Among findings from the poll:

-45% of physicians report that their practice is doing better this year compared to last year, while 14% report that their practice is doing worse and 33% report no change. (In the 2011 State of the Small Practice Survey, only 26% reported that their practice was doing better than the year before, while 41% reported doing worse.)
-60% of small practices report that new technology has made things easier.
-89% of doctors report being satisfied or extremely satisfied with their career despite challenges, a 20% increase from the year before.

Most practices ranked insurance and reimbursement as the top negative pressure (69%), followed by patient compliance issues (64%) and practice administration concerns (48 %).

Advancements in medicine (68%), patient compliance (53%) and improvement in the healthcare workforce (51%) were among the positive trends cited by physicians in this survey.

Read the full article at Healthcare IT News, or click here:
http://www.healthcareitnews.com/news/buoyed-it-small-practice-confidence