Independent practice losing ground to hospital, corporate, private equity ownership

Are independent physicians becoming a rare breed?

Rarity of independent practitioners may depend on medical specialty, according to data published by the American Medical Association (AMA) that show the latest trends in independent practice by specialty, including family medicine and internal medicine.

This slideshow presents the findings in “Physician Practice Characteristics in 2024: Private Practices Account for Less Than Half of Physicians in Most Specialties,” a new Policy Research Perspectives paper published by AMA. Author Carol K. Kane, PhD, analyzed data from AMA’s Physician Practice Benchmark Survey.

The transition from independent practice to corporate control of medicine is not always good news for physicians as business owners, or for patients seeking access to medical treatment, according to AMA. Association President Bruce A. Scott, MD, said private practice is “unraveling” due to regulatory burdens and cuts to payment across U.S. health care.

The 2024 survey sample size grew from 3,500 of previous years to 5,000 physicians who have completed residency, provide patient care at least 20 hours a week, are not employed by the federal government, and practice in the United States. The poll took place in August and September 2024 and had a 43% response rate.

Here are the percentages of physicians by specialty in private practice as of 2024. For each specialty, there were at least 100 responding physicians.