- The number of hospital-employed primary care physicians is on the rise, increasing from 10% in 2012 to 20% in 2014.
- Primary care physicians who own a single-specialty private practice dropped from 12% to 7% over the same two-year period.
- The survey of 1,527 physicians, run by Jackson Healthcare, was conducted from April 18 to June 5.
Quality of life appears to be the major motivating factor in physicians' decision not to operate a private practice. 37% of surveyed physicians said they didn't want to deal with the administrative hassles of owning a practice. 33% said they got into medicine to be a doctor, not a businessperson.
"Overall, the lifestyle that employment offers is the underlying factor driving physician preference," said the survey.
But financial factors also played a part. The Affordable Care Act ushered in some reimbursement cuts, and combined with the high overhead costs of operating a private practice, some physicians found that meant that they lacked the resources to comply with new regulations.