Decrease in Solo Practices

Many physicians today, particularly physicians out of training, are seeking careers based on many factors not considered in the past. Motivators for jobs are quality of life, communities, security, and shared call amongst other factors. These shifts are also making solo practices less common.

Physicians in solo practices find that they are self employed and running a business in addition to practicing medicine. The back-end business including marketing, billing, administration, and running the office can lead to long hours and without shared call with other groups little vacation and time off. In addition, new pressures from the current economy and changes in Medicare can make running a solo practice even more challenging and less stable.

Physicians out of training are concerned with starting a solo practice because of the threat of getting in to more debt opening an office as well as lifestyle flexibility and quality of life outside of work.

This article in The Detroit News says even mid-career physicians in Michigan and across the country are giving up their solo practices and joining large and better-financed hospital systems as salaried employees.

The shift is ushering in a new era in medicine that improves the coordination of patient care between doctors and hospitals and further consolidates the health care industry. In 1997, about 40% of physicians were in solo or two-doctor practices. By 2008, that figure had dropped to about 30%.

Read the full article in The Detroit News, or click here:
http://www.detnews.com/article/20100720/BIZ/7200368/Doctors-find-solo-act-tough-medicine#ixzz0uKU2OlAL