Becker's Healthcare August 21, 2024
The number of physicians working in private practice is shrinking, as consolidation and rising costs makes practicing independently less feasible.
More than 108,700 physicians left private practice for employment opportunities from 2019 to 2021, according to a report from Avalere. Additionally, 58.5% of physician practices are owned by health systems or corporations as of 2023, according to research by the Physicians Advocacy Institute and Avalere Health.
Here are five reasons the number of independent practices is declining:
1. Aging physician population
A big reason for the drop in practice ownership is due to the retiring physicians who are typically owners, combined with a decreased proportion of younger physicians opening practices.
According to Association of American Medical Colleges data, by...
Today's Sponsors
Today's Sponsor