Increases In Physician Professional Fees In Private Equity–Owned Gastroenterology Practices

Health Affairs February 1, 2025
Yashaswini Singh, Zirui Song, Daniel Polsky, Jane M. Zhu

Abstract

Consolidation of physician practices, largely driven by health systems, has motivated policy efforts to move care toward lower-price, non–health system settings. At the same time, however, private equity (PE) firms are increasingly acquiring those non–health system practices, potentially negating the prior price advantages of those practices. We used novel ownership data on gastroenterology practices linked to commercial claims for the period 2015–20 to study how PE acquisitions affect the prices and volume of care relative to both health system–affiliated practices and independent practices. We examined both professional fees and...

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