These are the findings from the American Medical Association’s 2024 Physician Practice Benchmark Survey. Physicians included in the survey include those who practice in the U.S., actively see patients, and have completed residency. Here is what the survey finds:
Increasingly, physicians are less likely to work in small practices that they or other physicians own. Rather, they tend to work in practices that are larger, more likely to be multi-specialty, and, certainly, more likely to be owned by a hospital or private equity group than in the past.
In 2024 only 42.2 percent of physicians were in private practice, 18 percentage points below the share in 2012…
Forty-seven percent of physicians either worked in a practice that was owned by a hospital, hospital system, or health system (34.5 percent) or were directly employed (or contracted directly with) a hospital (12.2 percent) in 2024. This collective share is 18 percentage points higher than in 2012. Lastly, 6.5 percent of physicians were in practices owned by private equity groups, higher than the shares in 2020 [4.5 percent]…
You can see the full results of the survey here.
