Physician Trends 2015

Copyright © 2015 Jackson Healthcare

Data, Surveys & Commentary on U.S. Physicians

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Copyright © 2015 Jackson Healthcare 2

What’s Highlighted In This Report?• Supply & Demand

• Regulatory Impact

• Compensation & Reimbursement

• Outlook & Satisfaction

• Practice Environment


The American Association of Medical Colleges (AAMC) projects a shortfall of between 46,100 – 90,400 physicians by 2025.

SUPPLY & DEMAND


Key Physician Shortages by 2025

• Primary Care (12,500 – 31,100)

• Specialists & Surgeons (28,200 – 63,700)

• Medical Sub-specialists (5,100 – 12,300)

Source: Complexities of Physician Supply & Demand: Projections from 2013 to 2025, AAMC

SUPPLY & DEMAND


72 percent of physicians believe there is a physician shortage

Source: 2014 Survey of America’s Physicians by Physicians Foundation

SUPPLY & DEMAND


Scenarios that could impact demand:

• Changing demographics

• ACA expanded medical insurance coverage

• Integrated care delivery model

• Expanded use of retail clinics

• Increased use of advanced practice nurses

Source: Complexities of Physician Supply & Demand: Projections from 2013 to 2025, AAMC

SUPPLY & DEMAND


“…while productivity improvements (via tech and staffing) might solve the (physician) shortage for big cities with ample resources, what about the non-metropolitan areas…?”

— Randy Gott, SVP with The Advisory Board Company

Source: “Is the physician shortage a real concern? Depends on where you live,”

Advisory Board Company, Sept. 2, 2015

SUPPLY & DEMAND


As physicians retire, local health systems struggle to replace their core medical staff.

— Randy Gott, SVP with The Advisory Board Company

Source: “Is the physician shortage a real concern? Depends on where you live,”

Advisory Board Company, Sept. 2, 2015

SUPPLY & DEMAND


Impacts of ACA on Physician Practices

• Too early to tell (25 percent)

• High deductibles for patients (12 percent)

• Loss of patients (8 percent)

• More patients with coverage (8 percent)

• Decline in reimbursements (7 percent)

• More bureacracy (6 percent)

Source: Jackson Healthcare Survey of 1,527 Physicians between 4/18/14 – 6/5/14

REGULATORY IMPACT


46 percent of doctors give the ACA a D or F grade


REGULATORY IMPACT


74 percent of physicians said they felt the ACA would be overturned by Congress, with 66 percent saying it should be repealed.

Source: January 2015 Survey by LocumTenens.com

REGULATORY IMPACT


61 percent of physicians reported an increase in overhead costs for items such as EHR and administrative costs to comply with the ACA

Source: Jackson Healthcare Survey of 1,352 Physicians (Released: June 25, 2015)

REGULATORY IMPACT


60 percent of physicians reported more administrative work under the ACA, resulting in less time with patients


REGULATORY IMPACT


REGULATORY IMPACT



REGULATORY IMPACT



$195,000

Average Primary Care Physician’s Compensation

Source: Physician Compensation Report 2015 by MedScape Medical News

COMPENSATION & REIMBURSEMENT


$284,000

Average Specialist’s Compensation

Source: Physician Compensation Report 2015 by MedScape Medical News



Top 5 Compensation Increases from 2013-14

• Urology

• Invasive Cardiology

• Dermatology

• Gastroenterology

• Radiation Oncology

Source:“Doc pay resumes upward march after prior year's slowdown,” by Steven Ross Johnson, July 18, 2015, Modern Healthcare



“The past five years have seen a significant increase in the creation of alternative payment models, such as accountable care organizations, patient centered medical homes, bundled payments, gainsharing, and various other pay-for-performance formulae.”

Source: Advisory Board Company, “How physicians can adapt to compensation changes,” A Law Review Q&A, July 10, 2015



“We continue to see the expansion of compensation figures for the primary-care specialties at a rate that's surpassing that of the (other) specialties.”

— Todd Evenson, COO of MGMA

Source: “Doc pay resumes upward march after prior year's slowdown,” by Steven Ross Johnson, July 18, 2015, Modern Healthcare



Proposed updates to CMS’s Physician Fee Schedule could lead to an increase in Medicare reimbursement for physicians in 2016.

Source: “How Medicare plans to change physician pay next year,” Advisory Board Company, July 9, 2015



Reimbursement cuts were one of the top two reasons physicians cited for selling their medical practice.

Source: Jackson Healthcare Physician Acquisition Survey (June 2015)



Physician satisfaction is on the decline.

64 percent of physicians said they would choose medicine as a career again (vs. 69 percent in 2011)

Source: Physician Compensation Report 2015 by Medscape Medical News

OUTLOOK & SATISFACTION



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Over past five years, physician satisfaction with EHR has decreased nearly 30 percentage points.

Source: 2014 Physician Survey by American Medical Association & AmericanEHR Partners



81 percent

% of doctors at capacity or overextended


PRACTICE ENVIRONMENT


53 hours

Average work week for a physician




9 – 12 Hours

Average number of hours worked per day




22 patients

Mean # of patients seen per day




20 minutes

Mean time spent with each patient




13 patients

Mean # of patients seen during hospital rounds




5 surgeries

Mean # performed in OR on a surgery day




68 percent of physicians who sold their practice reported approaching the hospital to initiate acquisition talks.




Primary care practices make up the majority of acquisitions by hospitals.




77 percent

# of physicians who said selling their practice was the right decision




85 percent

# of physicians who have adopted EHR

Source: 2014 Survey of America’s Physicians by the Physicians Foundation



The number of physicians taking call dropped from 77 percent in 2012 to 57 percent in 2014.




More physicians are choosing employment over practice ownership.


EMPLOYMENT


5 Advantages of Employment:

• Elimination of concerns about their practice’s financial viability (71 percent)

• Less administrative work (43 percent)

• Less stress (42 percent)

• Ability to take time off (40 percent)

• Stability/security (37 percent)


EMPLOYMENT


Headquartered in Atlanta, Georgia, Jackson Healthcare serves more than

seven million patients in over 1,300 healthcare facilities. The company also

helps hospitals optimize real-time patient care logistics. As one of the largest

healthcare staffing companies in the U.S., Jackson has earned national media

coverage by providing innovative solutions to healthcare problems, in addition

to championing local, national and international charitable work. Atlanta

Business Chronicle named Jackson Healthcare the city’s “Best Place to Work”

in 2014 and 2015 and “Healthiest Large Company” in 2015.

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