The following report, conducted by The Physicians Foundation, is based on 17,236 physician responses to a biennial survey, which inquired physician’s perception of the state of the medical profession. Key findings suggest a continued struggle among physicians to maintain morale levels, adapt to changing delivery and payment models, and to provide patients with reasonable access to care. Because physicians remain the key drivers of healthcare quality, access, and cost, how they practice and how they view their own profession is of critical importance to health professionals, policy makers, media members, and to the public.