Medical practices are getting larger, and physicians are less likely to own them, according to a report from the American Medical Association.
Carol Kane, AMA's director of economic and health policy research, compiled the report released Wednesday by analyzing data from the association's biennial Physician Practice Benchmark Surveys from 2012 to 2022. The most recent survey was conducted in late 2022 and included data from 3,500 post-residency physicians.
Here are five key changes among physician practices in the past decade.
1. Physicians are less likely to own practices.
Nearly 47% of physicians worked in private practices in 2022, compared with 60.1% in 2012. Last year, 9.6% of physicians worked as hospital employees or contractors, up from 5.6%. More than 31% worked at practices at least partially owned by a hospital or health system, compared with 23.4%. a decade ago.
Women are less likely to own practices. In 2022, 35.7% of women physicians were owners versus 48.6% of men.
Last year, 44% of physicians owned practices, down from 53.2% a decade ago.