Rising operational costs and administrative burdens have made independent practice increasingly difficult, fueling concerns about autonomy and market consolidation.
Here are 10 key statistics to know:
1. The percentage of primary care physicians affiliated with hospitals nearly doubled between 2009 and 2022, rising from 25.2% to 47.9%, according to a study published Jan. 17 in JAMA Health Forum.
2. Florida and Texas had the highest proportion of PCPs affiliated with private equity-acquired practices, while North Dakota and Wisconsin led in hospital-affiliated PCPs.
3. Office visit prices negotiated by hospital-affiliated PCPs were 10.7% higher ($14.91 more) than those at independent practices, while private equity-affiliated PCPs charged 8% more ($9.56 higher).
4. About 77% of physicians have moved away from independent settings, opting for employment by hospitals or health systems.
5. The percentage of self-employed physicians declined from 53% in 2012 to 42% in 2022, marking a 9.2% drop, according to a survey conducted by the American Medical Association.
6. The share of physicians working in practices with fewer than 10 physicians fell nearly 10%, while those in groups of more than 50 physicians increased by 6%.
7. Nearly 25% of physicians in health system-led organizations are considering changing employers, compared to 14% in physician-led practices, consulting firm Bain & Co. recently released its “Frontline of Health Survey” in an October blog post.
8. Employed physicians also reported more “inappropriate feelings of anger, fearfulness or anxiety,” compared to independent physicians, according to a September report by the Physicians Foundation.
9. Burnout rates were also higher among employed physicians (62%) compared to their independent counterparts (53%).
10. Around 58.5% of practices are health systems- or corporate-owned –– with corporations owning slightly more than health systems at 30%, according to the Physicians Advocacy Institute and Avalere Health.
