Many seniors would love to continue practicing, but Grossan says Electronic Health Records and expensive recertification costs force them out of practice, since many have resisted going this route in the past, but now are forced to pay thousands in up-front system fees and monthly costs to run.
It’s All They Know
Physicians tend to be very busy and very involved and Good says many haven’t developed a lot of outside hobbies or other interests throughout the course of their career.
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“I think my generation of physician believe that medicine is a calling,” Good says. “Many of us would be kind of lost without medicine. There is an old psychology 101 test where you are asked to describe yourself—man, woman, son, daughter, etc. Most physicians say doctor first and then everything else, which admittedly is a little psychologically flawed.”
He agrees with the CompHealth study indicating loss of social interaction is a concern for physicians considering retirement.
“Physicians spend all day talking to patients,” Good says. “My friends who have retired do report loneliness and isolation and those considering [retirement] note it is a concern.”
Still, 76% of respondents indicated that they would like to travel more in full retirement, and while making the decision to call it a career is hard, it’s something that many could look forward to one day.