Is it Time to Reconsider the Benefits of Private Practice?

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In recent years, much has been written about the numbers of physicians leaving private practice for hospital employment.  Unfortunately for many, the decision to leave a private practice has turned out to be like “jumping out of the frying pan and into the fire.”  Many physicians who thought it was time to leave a private practice setting are now having second thoughts or experiencing signs of burnout. Let’s take a look at a few reasons why it is time to reconsider the benefits of private practice.

More Autonomy

When was the last time a hospital administrator asked you for your opinion on how to improve the patient experience or create a better staff culture?  In a private practice setting, those kinds of decisions are yours to make or at a minimum be a part of the discussion.  In private practice, you can base your decisions on patient care, not a policy drafted by others who may be several years removed from the doctor-patient experience.

Workplace Culture

In a recent study, less than 50% of physicians in a hospital setting feel like they are always treated with respect.  Increasingly, in today’s healthcare workplace, culture is playing a greater role in the recruitment and retention of staff. In a private practice setting, if you are experiencing a toxic culture, look no further than the closest mirror.  You and your practice partners have the ability to create whatever type of environment works best for you and the staff.

Work/Life Balance

In private practice, you get to control how many patients per day you are going to see. You also get to decide when and how much you are going to work.  Determining what the right work/life balance is for you is a decision that can only be made by you (and your loved ones).  The good news is that if the mood strikes and you want to get away for a few days in wine country or hit the mountains for a quick ski trip, you can make it happen.

Patient Relationships

In private practice, especially in a primary care setting, you are establishing relationships with the patients you treat. Studies show that an ongoing physician-patient relationship results in greater satisfaction for both the physician and the patient.  This improved patient experience also leads to more referrals and favorable outcomes. A private practice becomes part of the fabric of a community and being connected to that care setting cannot be discounted.

Compensation

Most private practice settings allow you to set your own fees and work as many hours as you want to earn more money.  Even more so, for sub-specialties, seeing more patients means more money versus hospital system salary structures.  Additionally, efficiencies and other workflow improvements have a greater impact on the bottom-line in a private setting.  As the owner or major partner of the private practice, you decide what to do with the profits earned.

If you are interested in learning more about the private practice opportunities that Jackson Physician Search has available right now, contact a recruitment professional today.  

 

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