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The right technology and support can keep you competitive and combat burnout

The solo practice doctor is on the verge of extinction, many industry experts have long predicted. Yet other sources say independent practices are making a comeback. “For every solo practice that chooses to close its doors, there are many more that continue to stand their ground, pretty much as they have for the last 50 years,” reported The Independent Pediatrician.Read More

Think beyond compensation to benefits that can help you avoid burnout

New doctors are more likely to work for employers rather than for themselves. As we previously reported, 2016 marked the first year in which less than half of practicing physicians (just over 47 percent) owned their own practice. Nearly a third of doctors (32.8 percent) worked for hospital-owned practices or were employed directly by a hospital in 2016, according to the most recent American Medical Association (AMA) data. That number is expected to increase, since millennial doctors prefer careers as employees rather than as owners.Read More

The program that promised to reduce doctors’ student debt is falling short

The median cost of attending a four-year public medical school is more than $240,000. Private medical school fees can exceed $340,000, according to the Association of American Medical Colleges (AAMC). Most medical students rely heavily on financial aid to fund their education. The median education debt for new med school grads is $180,000, with 14 percent of graduates starting their residency owing $300,000 or more.Read More

There’s no clear-cut answer, but here are the main pros and cons to each career path

Health care experts have been predicting the end of independent practices for years now. And their numbers have continued to drop—a report from the American Medical Association showed that the percentage of doctors with an ownership stake in their practice declined to 47 percent in 2016. This is down from 53 percent in 2012, reported Medical Economics, which named “Remaining independent in a time of value-based care initiatives” as one of the top 10 challenges facing physicians in 2018. Read More