Who Is Buying Primary Care Practices?
Over the last few years, there has been a growing trend in the number of primary care practices being bought by hospitals, insurance companies, and private equity firms. Entities such as hospitals and insurance companies have long been acquiring privately owned medical practices and offer high remuneration potential. In just one-year (2015- 2016), over 5000 practices were bought and 14,000 physicians were employed by hospitals driving the decline of solo practices even further. However, this is not a new phenomenon, with historical records showing that primary care practices have been on a steady decline for the past three decades, with the percentage of solo physicians falling from 41% to 17% between 1984 and 2014.