Many U.S. Doctors will Leave Private Practice for Hospital Employment, Accenture Reports
July 29 2015 - 6:33AM
Business Wire
Only one-in-three doctors will remain
independent by the end of 2016
A growing number of U.S. doctors are leaving private practice
for hospital employment and only one-in-three will remain
independent by the end of 2016, according to a new report from
Accenture (NYSE:ACN).
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The number of independent physicians has declined over the last
several years, from 57 percent in 2000 to 49 percent in 2005.
Accenture predicts that next year this number will drop further, to
33 percent, and represents a 10 percent decline from Accenture’s
2012 report.
The two factors that physicians cited most often as their
biggest concern with remaining independent were reimbursement
pressures and overhead cost, cited by 36 percent and 23 percent of
respondents, respectively. With that, some independent doctors are
choosing to opt-out of public programs, such as Medicaid (cited by
26 percent of respondents), health exchange plans (15 percent) and
Medicare (3 percent).
Meanwhile, in response to revenue and cost pressures, other
independent physicians are experimenting with low-staffing models,
such as reducing support personnel (22 percent) or extending office
hours (21 percent).
Independent physicians are also creating new business models to
remain competitive. Nearly one-fifth (17 percent) of those surveyed
are participating in accountable care organizations and 7 percent
are aligning to patient-centered medical home models. In other
cases, one-fourth (24 percent) are considering ancillary or
subscription-based services to generate new revenue streams over
the next three years.
“Independent practices need business models that are as unique
as the market they serve,” said Kaveh Safavi, global managing
director of Accenture’s health business. “There’s increasing
complexity with running an independent practice and requires that
doctors differentiate by specialty type, size or in personalizing
service options, such as remote consultations or same-day
appointments. Doing so will help independent physicians stay
relevant and profitable.”
Methodology
For the third time, Accenture conducted an analysis of the U.S.
market for independent physicians, estimating the number of
licensed professionals in 2013 and projecting a forecast for the
end of 2016. To complement these findings, Accenture conducted an
online survey of 194 independent US physicians to assess their
employment status and practice models.
About Accenture
Accenture is a global management consulting, technology services
and outsourcing company, with more than 336,000 people serving
clients in more than 120 countries. Combining unparalleled
experience, comprehensive capabilities across all industries and
business functions, and extensive research on the world’s most
successful companies, Accenture collaborates with clients to help
them become high-performance businesses and governments. The
company generated net revenues of US$30.0 billion for the fiscal
year ended Aug. 31, 2014. Its home page
is www.accenture.com.
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Media:AccentureJenn Francis, 630-338
6426jennifer.francis@accenture.com
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