Are employed doctors better off?

Is working for a hospital less of a headache than running a private practice? That’s the answer Medscape was trying to find out with the Medscape Employed Physicians Report 2014. To present their findings, they produced a wonderful slide presentation on their website with the help of Leslie Kane, their Editorial Director.

More than 4600 doctors told us what they like and dislike about employment and whether they plan to remain in their current situation. Although there are plenty of benefits to being employed vs in private practice, there are some clear downsides. Doctors who had previously been in private practice told us whether they were glad they made the switch or whether they regret it.

To find out the benefit of employment, they asked doctors to list their top 3 benefits. The major benefit was not having to run the practice ( mentioned by 58% of physicians) . Another key top benefit was eliminating the billing and collecting payments. Guaranteed income was not the primary benefit, although it still made the top 3.

Below is the chart from the slideshow that list the other benefits of employment:

Graph from “Employed Doctors Report: Are They Better Off?”
The positive aspects of employment have a flip side. Doctors gain security, but they’re trading away control over their decisions, autonomy, and influence, and they’re saddled with a plethora of new rules to follow.

Understandably, the major reasons of disliking employment has to do with loss of control over their work life. Some of the responses that the survey received reflected this with phrase like: “the administration functions like the mafia”; “I could be let go at any time”; “I’m not really being bossed around, but I do have to kiss some butt”; “no control over the hiring or firing of support staff”; “zero input into management decisions.”

Below is the chart from the slideshow that list what doctors dislike most about employment:

Graph from “Employed Doctors Report: Are They Better Off?”
Either self-employed or employed, the majority of doctor in each case indicated that they are satisfied with their current practice situation. And that what’s important.

The snapshot that we have provided is just a taste of what the survey discovered. If you are interested in learning more, and see how you current employment situation compares with your colleagues then you should follow this link to see the full report.

Are you satisfied with your current employment? We would like to hear from you. Give us your comments below.

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