Who’s Happier? Independent or Employed Physicians?

Do physicians prefer to be employed by a facility such as a healthcare organization, hospital, or private practice? Or, would they rather be self-employed?

Medscape recently surveyed about 5,000 physicians to determine their preferences in regards to self-employment versus facility employment. To view the full study, click here.

The study provided several key findings, and they are as follows:

  • When a physician in employed by a facility, it is rare for them to return to self-employment. In fact, about 27 percent of physicians have gone from self-employment to facility employment, while only 13 percent have done the opposite.
  • The common reasons that physicians choose employment include: to establish financial security (36%), to create a healthy work-life balance (26%), and lastly to have fewer administrative responsibilities (13%).
  • The aspect of employment that physicians seem to enjoy most is not having to deal with the responsibility of owning a practice.
  • On the opposite end of the spectrum, physicians disliked the lack of autonomy associated with employment.
  • Both self-employed physicians and employed physicians are equally satisfied with their income, and they possess an equal feeling of pride associated with their work.

Overall, self-employed physicians tend to be happier than employed physicians. 63 percent of self-employed physicians confirmed that they were satisfied with their jobs, and only 53 percent of employed physicians reported satisfaction.

To view the full article by Emily Rappleye, click here.

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