Independent Practice

Management service organizations are becoming increasingly powerful in healthcare, particularly in gastroenterology, orthopedics and ophthalmology, Medical Economics reported Oct. 1. 

As reimbursements from CMS and other payers continue to be misaligned with the cost of keeping practices afloat, physicians face difficult choices about how to lead their practices into the future. 

Here are three policy changes that independent physicians say would make a difference in the fight to keep the doors open in the age of healthcare consolidation:

The independent healthcare market is shrinking as consolidation climbs, reimbursements fall and inflation remains high. Here are five notes on the state of physician independence:

Nearly 80% of physicians now work in an employed setting. Here are five ways the remaining 20% keep their practices independent: 

Many smaller private or physician-owned practices have found themselves at a critical junction in recent years. Independent physicians are declining in numbers as the reach of consolidation widens, economic pressure intensifies and administrative burdens persist. 

Autonomy is top of mind for many physicians as the workforce migrates to employment over private practice,and some leaders are joining forces to leverage the power of a group.  

On July 10, CMS proposed a 2.8% conversion factor reduction to its physician fee schedule. 

Administrative work is the biggest challenge for many physician practices, according to a recent survey by MedCentral.

Is time running out for private practice physicians? As the number of physicians practicing independently shrinks, the industry is seeing the effects of this trend in 2024.