Physician hiring, turnover increases after practices acquired by private equity, study finds (Fierce Healthcare)

A new Health Affairs study reveals that private equity (PE) acquisitions of physician practices are fueling rapid growth in clinician headcounts while also driving significant turnover — raising alarms about long-term effects on patient care and physician stability. Focusing on 200 ophthalmology practices acquired between 2014 and 2021, researchers found that clinician headcounts grew by 46.8% within three years post-acquisition, but physician turnover surged by 265% compared to non-PE-owned practices. Notably, departing physicians were more likely to be older (ages 40-60), possibly reflecting cash-outs by partner-owners who benefited financially from the acquisition.