The number of physician-owned private practices in the U.S. has declined by nearly 20% since 2012, according to the American Medical Association’s Physician Practice Benchmark Survey.
The AMA surveyed 5,000 physicians who have completed residency, provide patient care for at least 20 hours per week, are not employed by the federal government and practice in one of the 50 states or the District of Columbia.
As of 2024, just 42.4% of physicians work in private practice, down from 60.1% in 2012, according to the survey.
Ophthalmology has the largest percentage of specialists who remain in private practice, at 70.4%, followed by orthopedic surgeons at 54%.
The number of hospital-employed physicians rose 33% between 2013 and 2022 from around 157,000 to more than 205,000. In contrast, private practices grew by 17%, indicating hospitals are hiring at roughly double the rate, according to a new report published May 13 in the Journal of the Society of Laparoscopic and Robotic Surgeons.
The total number of employed physicians increased by 22% over the last decade, from roughly 620,000 in 2013 to over 760,000 in 2022.
One key limitation in reporting private practice ownership data, the journal notes, is the lack of publicly available information on whether private practices are physician-owned. Most ownership data come from proprietary sources, making it difficult to determine how many physicians are truly in control of their workplaces.
Here are the percentage of physicians who work in private practice from 2012 to 2024, per the AMA:
2012: 60.1%
2014: 56.8%
2016: 55.8%
2018: 54%
2020: 49.1%
2022: 46.7%
2024: 42.2%
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