More than 75 percent report austerity measures, going into debt or tapping personal assets to keep practices open
In an MDLinx survey of U.S. physicians with ownership of practices of ten physicians or less, 26.4 percent reported that given the financial environment, they could foresee closing their practices within the next year.
“This poll is quite startling in the revelations about small practices, the healthcare lifelines to many communities,” said Stephen Smith, Chief Marketing Officer for MDLinx. “Physicians have had missiles raining in on their practices at an increasing pace – the economy, regulations, paperwork, insurance, lawsuits, etc.,” said Smith. “The coming retraction this survey hints at from small practices to larger clinics and hospitals would mean longer drives to less personal, higher cost medical care for millions of Americans.” The poll had a total of 673 double-verified physician respondents, 254 in the target category of small practice owners and partners detailed here.
The full survey results can be found here: MDLinx Survey Results.
Read the story on CNN Business.