Interesting read. Doctor practices are traditionally a small business and the trends indicated in this article show this small business on the decline. Healthcare trends.
Excerpt: The health-care reform law is accelerating a shift away from private practices as doctors, fearful of new costs and regulations, “run for cover” under the protection of large hospitals.
During a hearing before the House Small Business Committee on Thursday, health-care professionals explained that the shift has already been picking up momentum in recent years, driven largely by growing regulatory and administrative burdens, rising malpractice costs and declining reimbursements from insurers — all of which they say have hit small practices especially hard. Consequently, doctors are shying away from the traditional solo practitioner model in favor of employment at large hospitals, which amid constant industry changes, can provide more financial security and take responsibility for keeping up with new regulations.
Research by Accenture shows that the number of physicians who own their firms dropped from 57 percent in 2000 to 43 percent in 2009, and it’s projected to continue falling to 33 percent by 2013