Medicine seems to be at a tipping point regarding workforce recruiting, and private equity, disruptors and massive health systems are all competing for physicians. But where do gastroenterologists fit into this dynamic?
Here are three notes on how private practice affects gastroenterology:
1. Private equity has increased its role in gastroenterology in recent years. As of October, around 10% of gastroenterology physicians are a part of a private equity-backed platform, according to Healthcare Appraisers' 2023 GI "Industry Outlook" report, published in September.
2. Although the number of physicians of all specialties are less likely to work in private practice now than they were 10 years ago, according to a recently released analysis from the American Medical Association, gastroenterologists have maintained their presence as private practice providers. Data from career site Zippa found that 88% of gastroenterologists work in private practice.
3. Compensation is on the rise for gastroenterologists in all practice settings, increasing by 9% from 2018 to 2023, according to the Healthcare Appraiser report.
Private practice gastroenterologists have an edge regarding pay: In the same period, the median compensation for gastroenterologists working at hospital-owned groups or MSOs increased 4%, compared to a 15% increase for those at physician-owned groups.