Survey: Small Medical Practice Confidence Index Rises in 2012
Practice Fusion’s 2012 State of the Small Practice survey and infographic reveal 60 percent of small medical practices are helped by technology, while nearly half report improvements in their practice in the last year
SAN FRANCISCO – January 24, 2012 – Forty-five percent of doctors in small or medium-sized practices report that their practice is doing better this year compared to last according to a survey released today by Practice Fusion, the free, web-based Electronic Medical Record (EMR) company. The second annual State of the Small Practice report also showed that technology has made things easier for over 60 percent of US medical providers in private practice. Administrative costs, insurance and reimbursement issues continue to be major burdens in a rapidly changing health care climate defined by government reform, technology mandates and an unfavorable nationwide economy.
- 45 percent of doctors report that their practice is doing better this year compared to last year while 14 percent report that their practice is doing worse and 33 percent report no change.
- In the 2011 State of the Small Practice Survey, only 26 percent reported that their practice was doing better than the year before, while 41 percent reported doing worse.
- 60 percent of small practices report that new technology has made things easier.
- 26 percent of practices use computers that are less than a year old. Thirty-eight percent report that the computers in their practice are over three years old, a major improvement from 73 percent the previous year. (Seven percent of practices have computers in the five to six-year-old range, down from 21 percent in 2011.)
- An overwhelming 89 percent of doctors report being satisfied or extremely satisfied with their career despite challenges, a 20 percent increase from the year before.
- Most practices ranked insurance and reimbursement as the top negative pressure (69 percent), followed by patient compliance issues (64 percent) and practice administration concerns (48 percent).
- Positive trends are led by advancements in medicine (68 percent), patient compliance (53 percent) and improvement in the healthcare workforce (51 percent).
Embed the 2012 State of the Small Practice infographic on your site by copying the embed code below:
“We are witnessing a transformation in American medicine,” said Ryan Howard, CEO of Practice Fusion. “On the one hand, small practice doctors are struggling with rising costs and lower reimbursement rates. On the other hand, technologies such as Practice Fusion’s free EMR system are helping thousands of medical practices across the country to increase efficiency, eliminate paper charts, qualify for federal EMR incentives and provide top quality care to their communities.”
Practice Fusion’s EMR system provides charting, scheduling, e-prescribing, lab integrations and referral letters at zero cost to small and medium-sized ambulatory practices. Raw data from the 2011 and 2012 surveys is available for free upon request. Practice Fusion is also offering physician sources from across the country ready to talk about their own experiences managing a small practice.
The 2012 State of the Small Practice study was conducted by an internet survey with a national sample of 1,000 practices gathered through Practice Fusion’s platform. Medical providers were asked to provide responses to a series of multiple choice survey questions based on last year’s data. In the previous year, the study was conducted on the MDLinx platform using a national sample of 100 small practice physicians using a series of open-ended questions. View results from the 2011 State of the Small Practice survey.
About Practice Fusion
Practice Fusion provides a free, web-based EMR system to physicians. With charting, scheduling, e-prescribing (eRx), lab integrations, referral letters, Meaningful Use certification, unlimited support and a Personal Health Record for patients, Practice Fusion’s EMR addresses the complex needs of today’s healthcare providers and disrupts the health IT status quo. Practice Fusion is the fastest growing EMR community in the country with more than 130,000 users serving 30 million patients. The company closed a $23 million Series B round of financing led by Founders Fund in 2011. For more information about Practice Fusion, please visit practicefusion.com.
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- Location: San Francisco