Financial Viability Of Medical Practices in the Next 5 Years: 4 Statistics

A majority of physicians agree that the financial viability of their medical practice over the next five years is mixed as their practices are not growing significantly, according to 2013 Physician Compensation Survey released by Physicians Practice.

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The survey includes responses from nearly 1,500 physicians.

 

When asked to describe their practice’s financial viability in the coming five years, respondents reported the following:

 

1. Mixed, my practice is not growing significantly — 33.3 percent
2. Robust, my practice is thriving — 27.6 percent
3. Shaky, I’m working harder just to maintain my income — 27.2 percent
4. Poor, I may have to close my doors within the next five years — 11.9 percent

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