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Survey: Physicians feel pressured by business matters
Physician Practice Advisor, December 14, 2004
The "Medical Practice Monitor," a new survey conducted by an American Express division for small businesses financing, found that specialists spend more time on practice management affairs than primary care physicians.
The survey of physicians in private practice conducted in September and October 2004 found that 24% of oncologists, 22% of rheumatologists, and 20% of urologists said that they or their partners spend at least 21 hours per week managing their practices.
Nearly 85% of the physicians felt that running a business while practicing medicine was "extremely challenging" (26%) or "challenging" (86%). Staffing and cash flow were the more frequently cited business challenges.
Automating medical recordkeeping and purchasing medical and office supplies online were the two most common means that physicians planned to use to overcome their practice challenges.
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