Overview
The 212,000 physician practices in the US consist of primary care and specialty practices. Primary care physicians are responsible for monitoring an individual’s overall medical care, performing physical exams, and treating minor illnesses. Primary care practices include general and family practices, internal medicine, pediatrics, and obstetrics/gynecology. Specialty practices focus on a particular area of medical care and may also perform surgeries to treat problems. Specialists include allergists, cardiologists, dermatologists, gastroenterologists, general surgeons, ophthalmologists, orthopedists, psychiatrists, and radiologists.
Lower Reimbursement Rates
Since only about 9% of patient visits are self-pay, physician practices are highly dependent on reimbursements from private insurance companies, Medicare, and Medicaid.
Hospital Affiliations
The past few years has seen an increase in hospitals purchasing physician practices to grow their revenues and medical staff.
Industry Financial Benchmarks
Here are typical financial statements for physician practices.
This data is provided by Powerlytics, Inc. Powerlytics is a big data predictive analytics platform provider with the most comprehensive, accurate and granular consumer and business financial data available in the marketplace. Its proprietary platform provides a comprehensive financial view of the over 200 million adults and 30 million businesses that comprise the American economy. Learn more about Powerlytics products & data.
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