Based on 2018 survey data, while the percentage of physicians who own their practices versus those who are employed were nearly equal, for the first time there were fewer self-employed physicians (45.9%) than those who were employees (47.4%). These numbers reinforce a trend over the past years where physicians are moving away from owning their own practices.
A breakdown of the demographics revealed men are more likely to own practices than women, older physicians (age 55) are more likely to have practice ownership, nearly two-thirds of surgical subspecialists own their practices, while slightly more than half of ObGyns do.
The rate of physician ownership has been falling since the late 1980s and early 1990s. Employed physicians are working for hospitals as well as practices owned by other physicians. Choosing one mode of employment over the other will ultimately be based on an individual physician’s unique combination of needs, desires and economic realities. Every endeavor should begin with a solid plan that encompasses the current landscape as well as future considerations. Resources are available from various organizations, including the AMA (See ‘Learn More – Primary Sources’ below).
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This educational activity may contain discussion of published and/or investigational uses of agents that are not indicated by the FDA. The planners of this activity do not recommend the use of any agent outside of the labeled indications.
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presented in this activity is not meant to serve as a guideline for patient management. Any procedures, medications, or other courses of diagnosis or treatment discussed or suggested in this activity should not be used by clinicians without evaluation of their patient’s conditions and possible contraindications and/or dangers in use, review of any applicable manufacturer’s product information, and comparison with recommendations of other authorities.
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