Roseland, NJ law firm Brach Eichler conducted a survey of nearly 150 doctors throughout the state. The physician’s outlook concerning their medical practice for the coming year was a fairly even mix:
The most common answers from those with an unfavorable outlook, why?
- Increasing insurance premiums
- Declining reimbursements – Nearly two in three (63.4%) indicated a decline
- Increasing competition, particularly from hospitals
- Declining autonomy
- Increasing regulation and paperwork
- Declining quality of patient care
The common denominators, in light of the mercurial state of health care reform:
Nearly half (45.5%) are considering changing their practice structure in 2013. The most common contemplated strategy expressed by half the physicians was to integrate with an Accountable Care Organization (ACO) – groups of doctors, hospitals, and other health care providers, who come together voluntarily to give coordinated care. Interestingly 95.2% of those practitioners that have joined an ACO indicated they have not seen any benefits to date. That statistic underscores the importance of getting sound advice – understanding all your options before you make any less than fully informed decisions.
I’d never attempt to perform a medical procedure – perhaps you should consider not making any significant business decision – likely one of the largest financial decisions of your life – without expert advice?