Large, physician-owned group practices are gaining ground as a popular form of practice, even as the number of physicians in solo and small practices declines, and employment maintains its appeal.
As physicians shift from owning private practices to employment in hospital systems, this countertrend is also taking place. Large group practices are growing in number, even as solo and small practices are in decline.
Do large, physician-owned groups bring benefits that beat employment? And how do large groups compare with smaller practices and new opportunities, such as private equity? You'll find some answers here.
Working in Large Group Practices
Large group practices with 50 or more physicians are enjoying a renaissance, even though physicians are still streaming into hospital systems. The share of physicians in large practices increased from 14.7% in 2018 to 17.2% in 2020, the largest two-year change for this group, according to the American Medical Association (AMA).
"Physicians expect that large groups will treat them better than hospitals do," says Robert Pearl, MD, former CEO of Permanente Medical Group, the nation's largest physicians' group.
Compared with hospitals, "doctors would prefer working in a group practice, if all other things are equal," says Pearl, who is now a professor at Stanford University Medical School.
