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In 2023, the total market for physician groups in the United States was estimated to be worth $271.47 billion. With a CAGR of 3.7% between 2023 and 2030, the market is projected to expand from $279.69 billion in 2023 to $360.49 billion. The extraordinary and catastrophic scale of the global COVID-19 pandemic has resulted in lower-than-anticipated demand for physician services across the United States.
Specialists like paediatricians, obstetricians, and anesthesiologists complement general practitioners and family doctors in the healthcare system. When more than two doctors team together to treat patients, patients benefit from the improved healthcare results that result. Typically, these organisations are either physician-owned or hospital-owned. Due to having a smaller patient base, individual or solo medical practises are more financially precarious than larger group practises. Some factors that push the solo practitioner into larger groups include the improved financial security, specialised training, expertis, and job security that come with working in a group as opposed to a solo practise. Furthermore, due to the rise in healthcare expenditure and the availability of adequate reimbursement policies, patients will choose earlier treatment for various chronic diseases, increasing the demand for various groups of physicians to cater to a large patient pool, and consequently supporting the market growth.
A number of significant developments in healthcare IT have recently emerged among physician groups. One is the shift towards using EHRs (electronic health records). The widespread adoption of EHRs by medical practises is an emerging trend that is predicted to grow. This is because of EHRs' numerous advantages, which include better care for patients, more efficient operations, and more streamlined coordination of treatment. The rise of telemedicine is another important development. Here, doctors make use of remote monitoring equipment to treat patients. Video chats, phone calls, and electronic mail are all viable options for this. More and more individuals are turning to telemedicine to get the treatment they require, and this trend is expected to continue expanding. Finally, the usage of mobile health applications is another significant development. These are applications for use on mobile devices, such as smartphones and tablets, that improve medical treatment in a variety of ways. There are apps that may be used to keep track of drugs, keep tabs on vital indicators, and even teach you something new. More and more individuals are turning to their mobile devices to manage their health, and this pattern is only anticipated to grow.
The number of physician groups merging and being acquired has increased dramatically in recent years. Physicians in small organisations often decide to join forces with bigger ones to share the burden of patient care, administrative costs, and financial security. In addition, numerous mergers and acquisitions occurred as larger groups of physicians sought to increase and expand their services across the United States. Market expansion is helped by the trend of solo practitioners wishing to join larger practises. One of the main reasons why more individual doctors are joining larger groups in the United States is because of the cost savings they provide. Providers' use of Electronic Health Record (EHR) systems is incentivized by the Health Information Technology for Economic and Clinical Health Act (HITECH). The HITECH Act makes it more cost-effective for hospitals and other organisations with many doctors to share the burden of EHR maintenance.
As a result, many doctors find it difficult to sustain private practises and instead seek jobs in hospitals. Working in a hospital can provide a number of benefits, including security, consistency in income, and lower outlays for auxiliary services. It is anticipated that these benefits would lead to a rise in the worldwide employment of medical professionals. More doctors are choosing to work in hospitals because to regulations like those enacted by the Health Care Financing Administration (HCFA), which permit hospitals to classify newly acquired physician practises as either provider-based or free-standing. As a result, the growth of the U.S. physician groups market is projected to be stymied by the rising trend of hospitals hiring doctors away from private practise.
Report Coverage
Global Physician Groups research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Physician Groups report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Physician Groups competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Physician Groups market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Physician Groups market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Physician Groups market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
The Permanente Medical Group (U.S.), Optum, Inc. (U.S.), Brigham and Women’s Hospital (U.S.), Cleveland Clinic (U.S.), HealthCare Partners IPA (U.S.), Ascension (U.S.), Northwell Health (U.S.), Mayo Foundation for Medical Education and Research (MFMER) (U.S.), Beaumont Health (U.S.), Advocate Aurora Health (U.S.), NYU Langone Hospitals (U.S.)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Physician Groups market based on the below-mentioned segments:
Global Physician Groups Market, By Type
Single-specialty
Multi-specialty
Global Physician Groups market, By Payor
Public Health Insurance
Private Health Insurance/Out-of-pocket
Global Physician Groups Market, By Ownership
Physician-owned
Hospital-owned
Others
Global Physician Groups market, Regional Analysis
Specialists like paediatricians, obstetricians, and anesthesiologists complement general practitioners and family doctors in the healthcare system. When more than two doctors team together to treat patients, patients benefit from the improved healthcare results that result. Typically, these organisations are either physician-owned or hospital-owned. Due to having a smaller patient base, individual or solo medical practises are more financially precarious than larger group practises. Some factors that push the solo practitioner into larger groups include the improved financial security, specialised training, expertis, and job security that come with working in a group as opposed to a solo practise. Furthermore, due to the rise in healthcare expenditure and the availability of adequate reimbursement policies, patients will choose earlier treatment for various chronic diseases, increasing the demand for various groups of physicians to cater to a large patient pool, and consequently supporting the market growth.
A number of significant developments in healthcare IT have recently emerged among physician groups. One is the shift towards using EHRs (electronic health records). The widespread adoption of EHRs by medical practises is an emerging trend that is predicted to grow. This is because of EHRs' numerous advantages, which include better care for patients, more efficient operations, and more streamlined coordination of treatment. The rise of telemedicine is another important development. Here, doctors make use of remote monitoring equipment to treat patients. Video chats, phone calls, and electronic mail are all viable options for this. More and more individuals are turning to telemedicine to get the treatment they require, and this trend is expected to continue expanding. Finally, the usage of mobile health applications is another significant development. These are applications for use on mobile devices, such as smartphones and tablets, that improve medical treatment in a variety of ways. There are apps that may be used to keep track of drugs, keep tabs on vital indicators, and even teach you something new. More and more individuals are turning to their mobile devices to manage their health, and this pattern is only anticipated to grow.
The number of physician groups merging and being acquired has increased dramatically in recent years. Physicians in small organisations often decide to join forces with bigger ones to share the burden of patient care, administrative costs, and financial security. In addition, numerous mergers and acquisitions occurred as larger groups of physicians sought to increase and expand their services across the United States. Market expansion is helped by the trend of solo practitioners wishing to join larger practises. One of the main reasons why more individual doctors are joining larger groups in the United States is because of the cost savings they provide. Providers' use of Electronic Health Record (EHR) systems is incentivized by the Health Information Technology for Economic and Clinical Health Act (HITECH). The HITECH Act makes it more cost-effective for hospitals and other organisations with many doctors to share the burden of EHR maintenance.
As a result, many doctors find it difficult to sustain private practises and instead seek jobs in hospitals. Working in a hospital can provide a number of benefits, including security, consistency in income, and lower outlays for auxiliary services. It is anticipated that these benefits would lead to a rise in the worldwide employment of medical professionals. More doctors are choosing to work in hospitals because to regulations like those enacted by the Health Care Financing Administration (HCFA), which permit hospitals to classify newly acquired physician practises as either provider-based or free-standing. As a result, the growth of the U.S. physician groups market is projected to be stymied by the rising trend of hospitals hiring doctors away from private practise.
Report Coverage
Global Physician Groups research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Physician Groups report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Physician Groups competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Physician Groups market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | The Permanente Medical Group (U.S.), Optum, Inc. (U.S.), Brigham and Women’s Hospital (U.S.), Cleveland Clinic (U.S.), HealthCare Partners IPA (U.S.), Ascension (U.S.), Northwell Health (U.S.), Mayo Foundation for Medical Education and Research (MFMER) (U.S.), Beaumont Health (U.S.), Advocate Aurora Health (U.S.), NYU Langone Hospitals (U.S.) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Physician Groups Market from 2021 to 2030.
- Market Forecast for Physician Groups Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Physician Groups competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Physician Groups
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Physician Groups market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Physician Groups market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
The Permanente Medical Group (U.S.), Optum, Inc. (U.S.), Brigham and Women’s Hospital (U.S.), Cleveland Clinic (U.S.), HealthCare Partners IPA (U.S.), Ascension (U.S.), Northwell Health (U.S.), Mayo Foundation for Medical Education and Research (MFMER) (U.S.), Beaumont Health (U.S.), Advocate Aurora Health (U.S.), NYU Langone Hospitals (U.S.)
Primary Target Market
- Market Players of Physician Groups
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Physician Groups market based on the below-mentioned segments:
Global Physician Groups Market, By Type
Single-specialty
Multi-specialty
Global Physician Groups market, By Payor
Public Health Insurance
Private Health Insurance/Out-of-pocket
Global Physician Groups Market, By Ownership
Physician-owned
Hospital-owned
Others
Global Physician Groups market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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