Around 11,300 of those physicians joined corporate entities, such as insurers and private equity firms, after the COVID-19 pandemic.
The number of corporate-employed physicians also jumped 31 percent since 2019. By the end of January, nearly 20 percent of physicians reported being employed by a corporate entity besides hospitals and health systems.
Hospitals and health systems together with corporate entities owned 48.4 percent of physician practices as of January. Avalere reported that 48,400 physicians left independent practice last year for hospital or corporate employment, including payers and private equity firms.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.