More than four in 10 physicians in private practice say they spend the equivalent of about one full day per week managing their business, underscoring the growing need to better balance their professional roles with their business responsibilities, according to a new study.
Overall, about one-quarter of all doctors in private practice said it has become "extremely challenging" to balance this dual role, and about 58% described it as "challenging," according to a Medical Practice Monitor survey by OPEN, the small-business network of American Express Co.
The survey was based on online interviews with a nationally representative sample of 356 medical doctors in private practice, about 300 specialists and 100 dentists.
