Medical Group Practice Management in the US - Industry Market Research Report

Medical Group Practice Management in the US - Industry Market Research Report

  • May 2020 •
  • 35 pages •
  • Report ID: 5931570 •
  • Format: PDF
Take care: Ongoing medical personnel shortages may restrain revenue growth

Abstract

Medical Group Practice Management
Over the five years to 2019, the Medical Group Practice Management industry grew as more physicians integrated into larger provider networks. Over the past decade, the traditional model of healthcare delivery has been gradually transforming. Burdened by medical school debt and seeking regular hours, more young physicians are opting out of private practices and instead joining hospitals or other medical groups. Moreover, the shift away from small practices is also being driven by growing concerns over rising healthcare costs, medical errors and changes in payment systems. In addition, with rising operating costs and reimbursement pressure, some older physicians have been selling their practices and moving into salaried jobs. Over the five years to 2024, industry revenue is forecast to rise, driven by healthcare reform provisions and aging demographics. There are several provisions, which are expected to support coordinated healthcare delivery, encouraging physicians and other providers to consolidate. For example, the implementation of electronic health records (EHRs) can be complicated for small healthcare providers without adequate financial and technical resources.

This industry comprises medical groups of physicians of various disciplines, including primary care physicians and specialist doctors. Medical group practices are defined as three or more physicians engaged in the practice of medicine as a legal entity sharing business management, facilities, records and personnel.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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