NEW YORK, April 16, 2014 /PRNewswire/ -- WebMD Health Corp. (NASDAQ: WBMD), the leading source of health information, today released its annual Medscape Physician Compensation Report for 2014, which provides an in-depth look at how compensation influences physician career considerations and practice. Medscape surveyed 24,000 physicians across 25 specialties about issues related to compensation and found significant differences in their responses based on gender, specialty and location. The report findings indicate that physicians' job satisfaction is influenced more by their choice of specialty than economic or other factors.
When physicians were asked, "If you had to do it over again, would you choose the same specialty," respondents who answered "yes" varied greatly by specialty:
Internal Medicine: 27%
"Compensation may not be the only reason that medicine has become a less attractive career choice than it once was," said Leslie Kane, Director, Business of Medicine for Medscape. "Changes in the healthcare landscape, increased paperwork, more rules, less autonomy and legal woes are also having a major impact on physicians' career choices and overall satisfaction."
The Medscape survey also reports that overall, 25 percent of physicians are considering not accepting new Medicare and Medicaid patients. The report finds:
53% say they are not sure whether they will participate in a health insurance exchange
25% will drop insurers who pay poorly
34% of physicians have now joined an Accountable Care Organization or plan to join one this year
As employers switch insurance plans frequently to reduce cost burden, coverage shifts may impact the physician/patient relationship. Physicians were asked: "Will you drop insurers that pay poorly?" Of those responding "yes," again, specialty type influenced response. The average for all physicians surveyed was 25 percent. By specialty:
"Between coverage and reimbursement concerns, physicians are often caught between a rock and a hard place when it comes to the relationships they share with patients," said Kane. "Many doctors refuse to drop patients for insurance-related issues, primarily because they care about their patients and consider it inappropriate," Kane added, "However, others realize that 'time is money', and have made the tough decision to drop patients in order to keep their practices viable."
To view the full Medscape 2014 Physician Compensation Report, visit https://medscape.com/features/slideshow/compensation/2014/public/overview.
Medscape Survey Methods:
The Medscape Physician Compensation Survey: 2014 was completed by 24,075 physicians representing more than 25 specialty areas, including Medscape members and non-Medscape members, from December 11, 2013, to January 24, 2014. Respondents were invited via email to respond to the online survey. The margin of error for the survey was +/- 0.62% at a 95% confidence level.
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