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Employed physicians now outnumber those in private practice

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For the first time, reports an American Medical Association press report, there are fewer physician owners (45.9%) than employees (47.4%), The data were collected in a national survey of 3,500 U.S. physicians and reported in a Physician Practice Benchmark Survey

A FierceHealthcare report on the news said:

“The trend was fueled by the preference of younger physicians toward employed positions. Nearly 70% of physicians under age 40 were employees in 2018.

“Whether physicians are owners, employees or independent contractors varied widely across medical specialties in 2018. For instance, surgical subspecialties had the highest share of owners (64.5%) while emergency medicine had the lowest share of owners (26.2%) and the highest share of independent contractors (27.3%). Family practice was the specialty with the highest share of employed physicians (57.4%).

“While the distribution of physicians has been shifting toward large practices and practices that are hospital-owned, 40% of physicians still worked in practices that were both small (10 or fewer physicians) and physician-owned in 2018, according to the report. More than half of doctors (56%) still work in practices with 10 or fewer physicians.”

To read the FierceHealthcare article, please hit this link.

To read the Physician Practice Benchmark Survey, please hit this link.

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