Factors Affecting Physicians Early Retirement Intentions: Implications For Healthcare Delivery

Abstract

Several authors have postulated that changes in the healthcare system, such as the growth in managed care, decreasing reimbursement, and the movement toward more integrated healthcare systems, perceived negatively by mature physicians, may contribute to their early retirement.  This, in turn, may produce adverse effects on the availability of medical care.  This study explores this and other related issues through analysis of data obtained from a survey of nearly four thousand physicians regarding factors potentially relevant to their early retirement decision.  While managed care is perceived to be an important factor in the early retirement decision of physicians, it does not necessarily lead to earlier retirement.  Physicians rank financial and personal factors as more important in their retirement decision.  Several of these factors significantly impact their expected early retirement age.  The results have several important implications for healthcare delivery relating to the retention or early retirement of effective practicing physicians, succession planning, and seamless generation of income.