Obamacare was supposed to make health care more affordable, but it may end up making it unavailable. Many doctors across the country anticipate that Obamacare will reduce doctor’s compensation so much as to threaten the viability of private practice. Nearly 40 percent of them said they would “retire, seek a nonclinical job in health care, or seek a job or business unrelated to health care” over the next three years as the overhaul is phased in, according to a recent Merritt Hawkins survey.
The survey of 2,379 practicing physicians also found that 28 percent of those who plan to retire are 55 or younger. And 74 percent said they plan to make “one or more significant changes in their practices in the next one to three years.” Among the changes these doctors are considering, in addition to retiring, are working part time, closing practices to new patients, cutting back on the number of patients, and switching to a cash or concierge model.
A poll conducted by Investor’s Business Daily last year found that four in nine doctors would consider retiring early if Obamacare became law.