Hospital employment overtook having an ownership stake in a practice as the most popular physician employment set up from 2012 to 2013, according to survey data from Jackson Healthcare.
The number of physicians in private practice also declined from 2012 to 2013.
The survey cites high overhead costs (45 percent), administrative issues associated with owning a private practice (34 percent), and reimbursement cuts (32 percent) as the top three reasons physicians left private practices. Twenty-eight percent of physicians also believe that hospitals offer better opportunities.
The following list reflects trends in physician employment between 2012 and 2013, according to the Jackson Healthcare survey findings:
2012
- Hospital employed — 20 percent
- Ownership stake in practice — 23 percent
- Solo practice — 21 percent
- Work for physician owned practice/no ownership stake — 12 percent
- Practice owned by hospital or health system — 15 percent
- Independent contractor — 9 percent
2013
- Hospital employed — 26 percent
- Ownership stake in practice — 22 percent
- Solo practice — 15 percent
- Work for physician owned practice/no ownership stake — 15 percent
- Practice owned by hospital or health system — 14 percent
- Independent contractor — 8 percent
According to Jackson Healthcare, 39 percent of physicians under the age of 45 have never worked in a private practice.