Private equity firms have invested more than $750 billion in the U.S. healthcare market, according to a literature review published in Anesthesiology Feb. 13, including significant investments in anesthesiology and pain medicine.
The review, conducted by researchers at several U.S. universities, examined trends in the growth of private equity in anesthesiology over the last decade and its impact on practice structures and care.
It found that in 2010, the estimated annual private equity investment in the healthcare market was $41.5 billion. This increased to more than $200 billion in 2021. The article notes that while private equity firms have traditionally focused on specialties such as dermatology, which has more opportunities for generating revenue through elective and ancillary services, firms have become increasingly interested in anesthesiology.
Between 2013 and 2016, 33.1% of physicians employed by groups acquired by private equity firms were anesthesiologists. Of physician groups acquired by private equity firms, 19.4% were anesthesia groups.
Past studies have identified a similar trend. According to an April 2022 study published in JAMA, anesthesia prices increased an average of 26% when anesthesia companies, backed by private-equity investors, took over HOPDs or ASCs, compared with independent practices.
