Corporate entities now employ 82% of U.S. physicians, and about nine out of 10 physicians in employed settings are reporting symptoms of burnout, according to a new survey.
The Physicians Advocacy Institute and Healthsperien’s Center for Health Research, Policy & Strategy surveyed more than 1,000 hospital- and corporate-employed physicians and found widespread burnout, administrative burdens and pressure to put corporate interests ahead of patient care.
In 2026, insurers, private equity firms and other non-hospital corporations own more physician practices than hospitals and health systems, and about 64% of physician practices are corporately-owned, according to the report.
Here are 10 things to know:
- Corporate ownership is the dominant model in healthcare, with corporate entities now employing 82% of all practicing physicians in the U.S. Among those employed physicians, 72% have only ever worked in a corporate setting and just 28% have prior experience in a physician-owned practice.
- Eighty-eight percent of employed physicians report symptoms of burnout, with the burden falling most heavily on younger and midcareer physicians.
- Nearly half of employed physicians are looking for a new job. Among those with prior experience in a physician-owned practice, 35% cite lack of clinical autonomy as a reason for considering leaving.
- Sixty-three percent of employed physicians face corporate barriers to referring patients out-of-network, and 59% feel pressure to keep patients within their health system. These restrictions can limit access to specialized outpatient or surgical care.
- Nearly half of employed physicians feel pressure to prioritize volume over care.
- More than three-quarters of employed physicians report delays in care or treatment due to prior authorization requirements, and 61% say prior authorization leads patients to abandon or delay recommended treatment.
- Nearly 80% of employed physicians say that EHR documentation is an ongoing burden.
- Equipment reliability is a concern, as 88% of employed physicians reported encountering faulty medical equipment in the past year.
- Nearly half of employed physicians say they would likely join a trade union.
- Despite the pressures, nearly 90% of employed physicians say they are satisfied with the quality of care they deliver.
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