Physicians said they don't have enough time to properly instruct patients on following their treatment plan.

The next biggest concern, cited by 53 percent of physicians as one of the top two issues, is the complexity that comes with managing multiple ailments of Medicare patients.

Other issues that large groups of physicians cited as their top two concerns:

• Patients' inconsistency in following treatment plans (32 percent)

• Patients' hesitation to undergo tests because of cost (21 percent)

• High frequency of calls or visits from certain patients (17 percent)

• Inability to monitor patients between visits (11 percent)

"Knowing that chronic care patients are a significant part of the population--and a group that has additional needs--it is critical that physicians find ways to regularly monitor their wellness and compliance," said Andrew Baumiller, CEO of SmartCCM.

While this study suggests that doctors are stretched for time in dealing with senior patients, it appears that Medicare patients are pleased with their care. A poll conducted in March shows that 85 percent of those enrolled in traditional Medicare are highly satisfied, while 88 percent of those enrolled in Medicare Advantage are highly satisfied with their care.