Physicians ready to quit — practice costs too high

by Cynthia Andersen, 17 September 2009

A recent CNNMoney.com article reported that some physicians are fed up with the costs of running their practice and are ready to quit. The costs of malpractice insurance, salaries, and

overhead have steadily increased over the years, while insurance reimbursements have stagnated.

Most physicians who leave medicine feel guilty over the huge waste of their training, skill, talent, and money. They'd spent at least 10 to 12 years, including medical school and residency, before entering the workforce.

The shortage of primary care doctors in the United States is already an issue. A first-ever survey of 12,000 primary care physicians conducted in October 2008 found that 10.1% of respondents planned to seek work outside of healthcare in the next 1 to 3 years.

One doctor stated, "When you get to a point where you feel unappreciated and you're arguing with people about being paid, it takes away the passion for what you do." Many physicians are reluctant to speak about their money woes, because they don't want to be perceived as "greedy."

Some physicians are seeking to leave the profession because they're fed up with insurance reimbursement challenges, as they struggle to cover the costs associated with being a doctor. One big concern is the time they spend on paperwork related to reimbursement claims.

To learn how physicians can reduce costs associated with insurance reimbursements, click here.

To read the complete CNNMoney.com article, published September 14, 2009, click here.

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