Seven in 10 physicians said rising costs were the primary reason their practice went into the red in 2023, according to Medical Economics' 95th "Physician Report" released Aug. 14.
Physicians also identified staffing issues, paperwork and lower reimbursements as issues faced in 2023.
The report surveyed practicing physicians on salaries, practice financial health, productivity, malpractice rates and the state of the profession in 2023. Respondents replied to the survey in the first half of 2024.
Here are the top 10 issues facing physicians:
- Burden of paperwork and quality metrics
- Inadequate reimbursement
- Third-party interference such as prior authorization
- Burnout or work-life balance
- Electronic health records
- Lack of staffing
- Nonphysician providers gaining practice, prescriber independence
- Lack of trust in healthcare institutions and medical knowledge
- Recruiting young physicians
- Malpractice or tort reform