70 Percent of Doctors are Employed by Hospitals, Private Equity Firms or Insurance Companies
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- Опубликовано: 4 май 2024
- 70% of Doctors are Now Employed by Hospitals, Private Equity Firms and Insurance Companies.
Conversely, Only 30% of Doctors are Independent, Which is a Major Drop from 20 Years Ago when 57% of Doctors Were Independent.
Breakdown of the 70%:
--50% of Doctors are Employed by Hospital Systems
--20% of Doctors are Employed by Private Equity Firms or Insurance Companies.
More Specifically, for Primary Care Physicians:
--43% of Internal Medicine Doctors are Employed
--57% of Family Practice Doctors are Employed
Hospital Systems Want to Employ Primary Care Physicians (PCPs) So They Can Drive PCP Referrals to Their Own Specialists, Who Will Then Order a lot of Tests and Procedures within Their Facilities.
These PCP Referrals Are Becoming MORE Important Because Referrals Are Done Much More Frequently Today...
In 1999, 4.8% of PCP Visits Resulted in a Referral.
In 2018, 18% of PCP Visits Resulted in a Referral.
It Went from 1 in 20 Visits to 1 in 5!
Employers and Employees Must Understand that Large Organizations--Hospitals and Private Equity Firms--Influence the MAJORITY of Doctors to Maximize Fee-for-Service Revenue. It Is Now the Norm.
Sources:
www.beckersasc.com/asc-transa...
www.beckershospitalreview.com...
www.ama-assn.org/system/files...
www.ajmc.com/view/outpatient-...
www.healthcarefinancenews.com...
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I'm proud to be part of the 30%. Family practice independently owned by the physicians who serve our rural community day in, day out.
Awesome!! Thank you for watching and for your comment.
The irony is that the 30% are not really independent. They are still bound by the same pressures controlling the 70% who are owned outright by Private Equity, Insurance, and Hospitals.
Excellent point!
Thank you for watching.
I am an RN working for a large Hospital corporation and the other night I was clocking out for break and saw something posted about our uniforms being changed to reflect the new "branding" of our growing healthcare system. The name of our hospital will be changing to represent the entire hospital system. We also get numerous emails about such "branding". It really turns my stomach as I feel that the financial side of healthcare should be considered a necessary evil, yet they are unashamedly promoting their profit driven "brand", while at the same time remaining blind to the healthcare crisis, nursing shortage, physician suicide rate which are all results of the corporatization of healthcare. They don't see how tone deaf it is to promote hospitalization, (something nobody wants), the way Disney promotes their theme parks. I get the feeling that the hospital system I work for wants to become the Amazon of healthcare and put all the little guys out of business.
You are correct. Thank you for sharing your experience. It’s not good for patients.
Medical practice in America is a prime example of the THEORY OF EVOLUTION. It has truly become a struggle for existence for physicians. I retired after practicing Internal Medicine for 40 years. The biggest blow to my practice came from Medicare, with its PRICE FIXING. Forced price fixing, to rock bottom unrealistic levels. Medicaid was worse. Medicaid paid me 50 cents per patient per month to "compensate" for the low reimbursements. When I called the local Medicaid official to say I'm quitting, she said, oh doctor, isn't fifty cents a month generous enough? I didn't know whether to laugh or cry!!! As to being owned by hospitals, the economics for primary care is this: the hospitals SUBSIDIZE the primary care docs in terms of salary, but demand a maximum of referrals and procedures. If they don't generate enough of either/both, they get stern warnings. This is truly pathetic. This is slave labor, glorified.
Thank you for sharing your experience.
Profit should not be involved when it comes to healthcare, period. The Hippocratic oath is something a 10 year old could understand and follow, though it's probably the case that people, who could care less about medicine, are involved in this.
True. Maybe even a 9 year old. 😉
Thank you for watching.
Independents became independent for a reason - more autonomy. Sadly those days are dwindling.
Sadly True. Appreciate you watching.
Imagine how many people die due to the lack of attention to detail and incompetence these hospital systems have. Bedside manner is out the window. It’s all for profit and you know what, without sick people (customers) they wouldn’t be in business. That should scare you.
Thank you for watching and sharing your thoughts.
Hospitals see patients as insurance policies and how much they can squeeze out from it
Thank you for sharing your perspective.
Not our DPC office... Patients should know these numbers.
#True. Thank you for watching.
Do the tree of the hospital owner. For example: Tenet Healthcare(per wikapedia)started in 1969. A law firm in Los Angels with 3 partners(always remember names for your tree)L.C., J.B, and R.E. created NME or National Medical Enterprise. I like to see them hanging with their doctor friends on the beach. Wonder who came up with the idea? Comes in handy especially by 2022. You have so many different names, LLC, branches of healthcare all covered. HELL lets buy some colleges so I can hurry and get my son through college. Honestly it's a very, very small world ........I mean whole dang world!!! It's political, international, financial so suck it up buttercups. From Old Nurse who just had her bubble popped (plus don't want to be on the hit list). I pray for an across the board healthcare cost, salaries that pay per performance, FDA approved drugs and all of us to have finger print scanner like cops when someones coming at me with a needle. (oh and pls no taxes, social security, stop healthcare bills, fraud calls and FIGHTING!!! Covid distracted us when the fraud started coming. Appreciated healthcare
Medicine today has clients, not patients.
Ahhh… very well put. Thank you for watching!!
PCP cost 15 dollars and specialty charge 45 dollars and plus always cholesterol pills are very famous deal
I was just going to write (you answered it at minute 5:05) - with the time limit of 7 minutes, it is just easier to write a referral to a specialist and you hit your quality metrics and keep the patient thru-put goosing the $$ train. Thank you.
Thank you for watching and for your comment.
thank you for making these vids
Thank you for watching!
@@ahealthcarez please do a video if Physicians are being or going to be replaced with mid-level providers and machines? Have Physicians become a commodity?
For Example
Primary Care Physicians replaced with N.Ps/P.A.s
Anesthesiologists replaced with CRNAs
Surgeons replaced with Artificial Intelligence
@@user-lu6yg3vk9z Thank you for the suggestion!
Excellent assessment.
Thank you for watching and for your feedback.
Hi Dr. Bricker, thank you for the video!
How does management (whether PE, insurance, or a hospital) influence physician behavior? Beyond that of RVU based bonuses.
Also, how much of the increase in referrals do you think can be attributed to new technology? I know a lot of hospitals cite that as a major driver of growing costs.
Influence/Control referrals.
Wide range in referral rates by specific physicians… ie based on judgement/time of doctor. If was tech driven, would be more consistent across PCPs.
Thank you for watching!!
This is so true but we are independent
Thank you for watching.
would you be willing to start a community to further discuss these concepts? It could aid in the path to solutions.
Great suggestion. I’ll think on it.
😳😬🤯 😱 OMG
Very accurate emojis.