The number of employed physicians has increased significantly over the last decade. In a recent study by Avalere, supported by the Physicians Advocacy Institute, 3 out of 4 physicians now are employed by the corporate sector, health systems, and hospitals.
Even though the number of physicians in private practice has dropped to 26% in 2021, physicians still own 46% of practices in the United States, The Amnerican College of Surgeons reports. This reversal in practice ownership over the past few decades has occurred because of difficult economic conditions, including inflation, debt, work force shortages, burnout, professional isolation, and compensation stability, as well as the increasing administrative burdens in healthcare. Concurrently, plentiful capital in the hands of private equity and health insurance companies has allowed them to buy out medical and surgical practice owners looking to get out, with the hope of profiting in 3–7 years when they sell off the practice.
However, there are a significant number of surgeons who like the features of a private practice. These features include clinical and business autonomy, more productivity and satisfaction with electronic medical records, and the ability to preserve the traditional relationship with patients rather than being on the clock. Read more.
