The American College of Physicians (ACP) is calling for stronger oversight of private equity in healthcare, warning that the industry’s focus on short-term returns may conflict with long-term patient care, physician autonomy, and practice sustainability.
The position paper notes that private equity acquisitions of physician practices increased more than sixfold between 2012 and 2021, with gastroenterology ranking among the most targeted specialties, accounting for 120 acquisitions. ACP cites evidence linking private equity ownership to higher healthcare costs, reduced physician autonomy, increased use of nonphysician providers, and no consistent improvements in quality outcomes.
While acknowledging that private equity can provide capital, operational support, and technology investments, ACP argues that existing regulatory oversight has not kept pace with the rapid consolidation of healthcare practices. The organization is urging policymakers to strengthen transparency requirements, close regulatory loopholes, and ensure that patient-centered care remains the primary objective.