Physicians find business demands very challenging

Physicians in private practice have a tough time balancing their role as doctor with that ofsmall business owner, according to the first-ever Medical Practice Monitor by OPEN from American Express.

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One quarter of physicians overall describe maintaining the dual role of practicing medicine and running their businesses as "extremely challenging," and 58 percent overall describe it as "challenging."

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According to the survey, 43 percent of all physicians in private practice report spending theequivalent of at least one full day per week managing their businesses, and eight percent sayeither they or their partners spend the equivalent of at least three business days on practice management.

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And 75 percent of physicians say they aspire to having more time to practice medicine rather than managing the business of their practices.

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A Vision for Success

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• The most successful people in any field know when to ask for help. When the issues at stake are significant in scope, have serious consequences, and fall outside your comfort level, it’s time to call in a specialist in the field. A consultant may be able to offer you just the help you need.

Tony Rovinsky is the founder and principal of Rovinsky and Associates, Inc. 
www.rovinskyandassociates.com 
You may contact him at: trovinsky@rovinskyandassociates.com