The Shifting Landscape: How technology and regulations have changed physician practice and retirement readines

 Abstract

Medicine has been irrevocably altered by electronic medical records and the Affordable Care Act (ACA). This article describes the results of a national survey with 523 physicians of different ages and specialties. The results show varying degrees of optimism about medical practice, retirement planning, and the future of medicine. Those employed by a hospital gave the ACA the highest average grade, while practice owners/partners the lowest. Respondents had diverse opinions about the impact of EMRs on patient care, efficiency, costs, and workload. The most pessimistic respondents were practice owners/partners, who were cynical about medicine’s future, would not recommend medicine as a career, and cited the ACA’s negative effects. Evolution of EMRs and the anticipated changes in health legislation are certain to continue and will alter the landscape of medical practice in the future. These changes will ultimately affect physicians’ retirement planning efforts and their readiness to retire