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The physician workforce reached 1,044,734 in 2022, according to a census conducted by the Federation of State Medical Boards and published July 18 in the Journal of Medical Regulation.

The number of physicians working in private practice decreased by 13.4 percent from 60.1 percent in 2012 to 46.7 percent in 2022, according to a report from the American Medical Association.

While the average physician will leave medical school with six figures of debt, a number of states offer some type of medical loan forgiveness for physicians based on factors including income and practice setting. 

When considering entering private practice, there are several considerations for physicians to make, including the operational advantages and pitfalls of running your own practice. 

About 20 percent of the U.S. population lives in a rural area, yet just 11 percent of physicians practice in these regions, according to a report by the Health Policy Institute at Georgetown University in Washington, DC. 

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