Physician Practice Owners are No Longer Majority

In an article released by the AMA, a recent survey revealed that for the first time, physician practice ownership is no longer the majority. Currently 47.1% of physicians own their practice, compared to 76.1% in 1983. However, the majority of physicians, 55.8%, still do work for physician owned practices as opposed to being employees of hospital systems. In the past two years hospital based physician employment had increased, but is now beginning to level out with hospitals acquiring less physician practices.

AMA president Andrew W. Gurman, MD stated, “Patients benefit when physicians practice in settings they find professionally and personally rewarding, and the AMA strongly supports a physician’s right to practice in the setting of their choice.” As some physicians find the flexibility of owning their own practice a benefit, others enjoy being employed/contracted by a practice or hospital, which can decrease administrative responsibilities.