Are private practice physicians going extinct? 6 stats on declining independence

Here are six stats on physicians and private practice and how ownership is evolving:

  1. Only 26 percent of physicians were employed in private practice in 2022.
  2. A 2021 analysis by the American Medical Association showed 49.1 percent of patient care physicians work in a physician-owned practice. 
  3. An April 2022 report showed approximately 108,700 physicians had left private practice since January 2019.
  4. Physicians own 46 percent of all practices, while corporate entities and hospitals own 27 percent and 26 percent, respectively, as of April 2022.
  5. Hospitals and corporate entities own an estimated 135,300 physician practices as of April 2022.
  6. A total of 36,200 physician practices were acquired between 2019 and 2021, with 4,800 being acquired by hospitals and 31,300 by corporate entities.

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