Health Care Consolidation: Published Estimates of the Extent and Effects of Physician Consolidation

Studies show physician practices have increasingly been acquired by hospital systems, insurance companies, private equity firms, and other entities.

At least 47% of physicians were consolidated with hospital systems in 2024—up from less than 30% in 2012. Studies show this consolidation can increase spending and prices, with one finding significant increases for office visits occurring in hospitals. Care quality may be the same or lower. It’s unclear how this type of consolidation affects access to care.

There’s less evidence on the effects of physician consolidation with insurance companies or private equity.

What GAO Found

Physicians have become increasingly consolidated as the share of physicians in practices owned by other entities has...