127,000 physicians have left private practice since 2019

More than 127,000 physicians moved to employment from 2019 to 2023, according to new data from consulting firm Avalere in a study sponsored by the Physicians Advocacy Institute.

Here are five major notes:

1. In 2022 to 2023, 19,100 physicians became employees of hospitals or other corporate entities, a 5.1% increase.

2. In that same period, hospitals and other corporate entities acquired 8,100 additional physician practices, a 6% increase.

3. Hospitals acquired 2,800 physician practices, a 7.3% increase.

4. Corporate entities acquired 5,300 additional physician practices, an 11% increase. 

5. Around 78% of physicians were hospital- or corporate-employed by January 2024. 

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