In unprecedented numbers, America’s doctors — those most entrepreneurial and fiercely independent of professionals — are trading in their autonomy for regular work hours and a hospital paycheck. Quickly and quietly, hospitals across the country have been buying up hundreds of doctors’ medical practices and hiring thousands of formerly independent physicians.
A three-judge panel of the U.S. Court of Appeals for the D.C. Circuit hears a challenge to the Affordable Care Act (ACA or “ObamaCare”), in a lawsuit led by the Association of American Physicians and Surgeons. This is the first hearing by a U.S. Court of Appeals on the unconstitutionality of the law in 2014, less than two weeks after it went into effect.
Physicians looking for employment have an opportunity to take advantage of doctor shortages—more hospitals have vacancies. A survey of hospital leaders showed a 17.6 percent vacancy rate for physicians at their facilities, which is up from the 10.7 percent vacancy rate the same survey found in 2009.
Industry experts predict that 2014 will be a record-breaker in terms of physicians retiring, merging or selling their practices. According to Deloitte’s 2013 Survey of U.S. Physicians, six in 10 report, “it’s likely that many will retire earlier than planned in the next two to three years.” In addition, by the end of 2014, an estimated 50 percent of physicians will work for a hospital-owned or affiliated medical group or health system.
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