Physicians are flocking to employed models over private practice, a trend that's picked up momentum during the COVID-19 pandemic, JDSupra reported January 11.
About 108,700 physicians have left private practice since January 2019, according to a report by consulting firm Avalere cited by JDSupra.
Factors drawing physicians to employed models, according to the report:
- High costs of maintaining a private practice
- Declining reimbursement
- Administrative and organizational burdens
- Business challenges for physicians who are trained to focus on delivering patient care
- Financial pressures
- Changes to technology, including electronic health records systems
- Mental health, burnout and stress