Gastroenterologists are slightly more likely to be practice owners, at 42.7% self-employed. According to data from career site Zippa, 88% of gastroenterologists work in private practice –– the second highest of any specialty.
But the line between independence and employment for gastroenterologists may be growing thinner.
“Many young gastroenterologists are running away from private practice,” Adam Levy, MD, a gastroenterologist in Macon, Ga., told Becker’s. “This is due to the high cost of educational loans and an environment where hospitals are offering large salaries to graduates. It is difficult for private practice to compete upfront due to declining reimbursements.”
However, gastroenterologists also earn more in self-employed settings. Median compensation for gastroenterologists working at hospital-owned groups or MSOs increased 4%, compared with a 15% increase for those at physician-owned groups, according to the Healthcare Appraisers’ 2023 GI “Industry Outlook” report.
For those with “an appetite for risk,” private practice could still prove beneficial in the long run, Gabriel Oinescu, MD, and gastroenterologist at Wyckoff Heights Medical Center in New York City, told Becker’s.
“The challenge is that each physician is trading in a comfortable [employed] position, albeit with limited autonomy, for potential financial risk,” he said. “Keeping a practice open will take more effort to comply with government regulations and reporting, so reducing the burden may help. Eventually, building and monetizing the equity of the practice should be enough to incentivize physicians to seek alternatives to employment.”
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