Physician Practice

Doctor-owned practices now a minority: AMA

Physician Practice Insider, June 12, 2017

The American Medical Association (AMA) has run the numbers and found that, for the first time since people can remember, fewer than half of working physicians own their own practices.

A doctor hanging up his own shingle was once part of the folklore of American life, and previous studies from the 1980s, an accompanying story on AMA Wire notes, found physician ownership above the 70% range.

But AMA’s 2016 Physician Practice Benchmark Survey of 3,500 physicians found that “less than half (47.1%) of patient care physicians had an ownership stake in their practice.” Previous Benchmark Surveys in 2012 and 2014 had ownership only slightly above 50%; 2016 was the first time owners were a minority and “also the first year when there were an equal number of employees and owners.”

The survey also finds that the younger the physician, the less likely he or she is to own their business; ownership is 54.9% among physicians 55 and older, and 27.9% among physicians under the age of 40.

Read more at Part B News.

Most Popular