The rate of mergers between health systems and independent cardiology groups over the past decade has been "staggering," according to a new report from Global Healthcare Advisors.
JC Lupis, GHA's research platform managing director, shared the report with Becker's ASC Review. GHA is a boutique investment bank exclusively focused on buy-side acquisition advisory services in healthcare.
Six insights from the report on provider autonomy in cardiology:
1. In 2018, 84 percent of cardiologists practiced in an integrated setting rather than a private setting.
2. The shift toward integration reflects cardiologists' efforts to protect themselves from climbing reimbursement pressures and administrative burdens.
3. Cardiologists began joining health systems at a slower pace with the advent of value-based care, which provides an opportunity to leverage independence as evidence of higher-value services.
4-6. The percentage of revenues going to overhead for self-employed cardiologists varies by group size and their role within the practice.
Owner of a solo practice: 50 percent
Owner of a group practice: 44 percent
Partner: 34 percent