It’s really bad for physicians right now. Unfortunately, it’s only going to get worse without some sort of intervention.
- Doctors are burning out at unprecedented rates: they are 15 times more likely to burnout than professionals in other fields.
- A 2015 Medscape survey found that about 50% of doctors are experiencing burn out.
- Doctors have the highest suicide rate of any profession – two times more likely than the US population
- The average Doctor-Patient interaction is only about 8 minutes
- Doctors spend more than two-thirds of their time on paperwork as opposed to taking care of patients
- In a 2016 survey, The Physicians’ Foundation found:
- 54% of physicians described their morale as somewhat or very negative
- 63% are pessimistic about the future of medicine
- 49% would NOT recommend medicine as a career choice for their children
- 80% are overextended or are at capacity, with no additional time to see patients
- 47% plan to accelerate their retirement
- 48% of doctors plan to cut-back on hours, retire, take a non-clinical job switch to “concierge” medicine, or take other steps limiting patient access to their practices
- Only 14% of physicians report that they have the time they need to provide the highest standards of care
- 23% of physicians said they are either practicing some form of concierge medicine or are transitioning to a concierge, or concierge-like, model
In the midst of all of this, many current and next generation of doctors are rejecting the 20th Century model of medicine that is harming so many of them. Doctors are seeking to create a work-life-mental-spiritual balance. It starts by figuring out why they have become doctors in the first place.
People become doctors for some combination of 3 main reasons:
- The money
- To help people
However, all three of the reasons have continued to lose their luster over the last couple of decades. And, as the statistics above show, it’s not getting any better:
- The prestige. While not completely gone, the prestige factor continues to degrade. Why do doctors continue to accept being called “providers” by insurance companies and hospital executives? (After all, the word physician actually means “one who is skilled in the art of healing” not one who is skilled in the art of providing.)
- The money. Most doctors in the US earn good salaries compared with other careers. However, most “providers” will tell you that their incomes are being squeezed and their responsibilities are increasing. Therefore, their real income is decreasing, especially when you factor in the amount of patients they must see on a daily basis, just to keep their income where it was the year before. And it continues to get worse.
- To help people. Sure, doctors still provide a service that numbs the pain or provides surgery, but at less than 8 minutes per visit, how well does the doctor really know their patient?
Here is a list of what physicians find MOST satisfying about practicing medicine:
- Patient Relationships
- Intellectual stimulation
- Interaction with colleagues
- Social/Community Impact
- Financial Rewards
- Prestige of Medicine
Here is a list of what physicians find LEAST satisfying about the practice of medicine:
- Regulatory/paperwork burdens
- Erosion of clinical autonomy
- Inefficient EHR
- Professional liability concerns
- Commoditization of medicine
- Lack of time with patient
- Certification concerns
RHM Impact has developed a business system and advisory platform that has been built specifically for both the physicians and patients. The RHM platform requires physicians and patients to develop a long-term relationship that benefits both parties in a way that is completely different than the current, or the 20th Century practice of medicine.
Ultimately, patients desire two main things from their physician: time and advice. And, what may seem counterintuitive, physicians desire the same thing. In fact, almost 74% of physicians describe “patient relationships” as the most satisfying aspect of their medical practice.
Why did you become a Physician?
Regardless of the specific reasons, many physicians are looking for ways to better themselves, personally and professionally. As an alternative, many physicians are exploring the field of regenerative medicine, as much for economic reasons as for medical or scientific reasons. As such, the RHM platform offers
- the clarity to know what options are available
- a guide to help them choose a excellent platform for them to make a difference in their patients lives’
- the confidence to choose a platform that is best for them
Ultimately, RHM offers a business system and advisory platform for physicians the give them the opportunity to move from “provider” back to “physician” where they can truly use their skill in the art of healing.
RHM, at the intersection of science, medicine, and business, is committed to providing the leading platform for impact physicians in the field of regenerative medicine. We do this by helping physicians navigate the complexities of the business of regenerative medicine as the physicians help their patients navigate the complexities of regenerative medicine.
If you want to learn more about the RHM business system and advisory platform and how it could help you become a Physican again, start here: Power of Regenerative Medicine.