29,800 physicians exited private practice for insurers, PE firms & other corporations in 2 years
There was a 32 percent increase in physician practice acquisitions by corporate entities in the past two years, which added 29,800 formerly independent practice physicians, according to a June 29 report from Avalere.
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.
Filed under: General Problems
My family Dr. had to leave his private practice to join other Drs. affiliated with one of the local hospitals. His malpratice insurance was crippling and he would have lost privileges at the hospital. Big government, pharma, the deep state and the swamp are at work everywhere.
If a medical group is rich enough they can avoid liability for ANYTHING all day, …but then one becomes a “company doctor” and company doctors kill because they have become disloyal to medicine and chained to the will of the CEO seeking NOTHING but MONEY…..