Summary

U.S. Physician Groups Market Growth & Trends

The U.S. physician groups market size is anticipated to reach USD 461.1 billion by 2030, based on a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 5.13% during the forecast period. The market's growth can be attributed to the shift of practitioners from solo practices to group practices. In a group practice, a physician has the capacity to manage advanced, essential, and expensive medical equipment. Group practices can expand their reach to cover a broader geographic area, operate across multiple locations, serve a larger patient base, and achieve greater profitability. In addition, practitioners can receive valuable feedback and insights from colleagues and co-workers when working within a group.

Moreover, the growing government initiatives to promote physicians' revenue in the U.S. are expected to propel the market's growth over the forecast period. Government bodies have realized the importance of physicians in developing a value-based healthcare system in the U.S. and have undertaken various initiatives to bridge these gaps between revenues of different specialties. For instance, in April 2019, CMS and the Department of Health and Human Services (HHS) announced payment models to boost the revenue for primary care practices, including Primary Care First (PCF), Primary Care First-High need population, Direct Contracting (Global, Professional, and Geographic).

The COVID-19 pandemic has significantly impacted the growth of the market. Many physician groups experienced a substantial decrease in revenue as elective procedures and non-urgent visits were postponed or canceled. This loss of income created financial strain, especially for smaller and independent practices. According to the American Medical Association, the Medicare Physician Fee Schedule (MPFS) spending dropped significantly in March and April 2020 to around 57% (USD 13.9 billion). However, the increasing adoption of telehealth and the shift towards value-based care in the U.S. have positively impacted the market growth.

U.S. Physician Groups Market Report Highlights

• Based on the practice type, the multi-specialty segment held the largest market share in 2022. This can be attributed to the growing patient preference owing to its comprehensive healthcare services and wide range of treatment options available at such practices

• Based on the practice size, the fewer than five physicians segment held the largest market share in 2022 owing to the high quality of services available at such locations and the high number of physicians operating in such practices in the U.S.

• Based on the ownership, the physician-owned segment dominated the market in 2022. However, the private equity segment is expected to witness the fastest growth over the forecast period owing to the rising acquisition of small physician groups by such firms

• Based on the region, the Southeast region held the majority of the market share in 2022 owing to the presence of many physician groups in the region

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation
1.2. Estimates and Forecast Timeline
1.3. Research Methodology
1.3.1. Information procurement
1.3.2. Purchased Database
1.3.3. GVR’s Internal Database
1.3.4. Secondary Sources
1.3.5. Primary Research
1.3.6. Details of Primary Research
1.4. Information or Data Analysis
1.4.1. Data Analysis Models
1.5. 1.5 Market Formulation & Validation
1.5.1. Commodity Flow Analysis
1.6. List of Secondary Sources
1.7. List of Abbreviations
1.8. Research Objectives
1.8.1. Objective - 1
1.8.2. Objective - 2
1.8.3. Objective - 3
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Dynamics
3.1.1. Market Driver Analysis
3.1.2. Market Restraint Analysis
3.2. Industry Analysis Tools
3.2.1. Porter’s Five Forces Analysis
3.2.2. PESTLE Analysis
3.3. COVID-19 Impact Analysis
3.4. Regulatory Framework & Reimbursement Scenario
Chapter 4. U.S. Physician Groups Market: Practice Type Estimates & Trend Analysis
4.1. Segment Definitions
4.2. U.S. Physician Groups Market: Practice Type Segment Dashboard
4.3. U.S. Physician Groups Market: Practice Type Movement & Market Share Analysis
4.4. Single Specialty Group
4.4.1. Single Specialty Group Market, 2018 - 2030 (USD Billion)
4.4.2. Primary Care
4.4.2.1. Primary Care Market, 2018 - 2030 (USD Billion)
4.4.3. OB/GYN
4.4.3.1. OB/GYN Market, 2018 - 2030 (USD Billion)
4.4.4. Ophthalmology
4.4.4.1. Ophthalmology Market, 2018 - 2030 (USD Billion)
4.4.5. Surgical
4.4.5.1. Surgical Market, 2018 - 2030 (USD Billion)
4.4.6. Psychiatry
4.4.6.1. Psychiatry Market, 2018 - 2030 (USD Billion)
4.4.7. Cardiology
4.4.7.1. Cardiology Market, 2018 - 2030 (USD Billion)
4.4.8. Anesthesiology
4.4.8.1. Anesthesiology Market, 2018 - 2030 (USD Billion)
4.4.9. Dermatology
4.4.9.1. Dermatology Market, 2018 - 2030 (USD Billion)
4.4.10. Radiology
4.4.10.1. Radiology Market, 2018 - 2030 (USD Billion)
4.4.11. Emergency Medicine
4.4.11.1. Emergency Medicine Market, 2018 - 2030 (USD Billion)
4.4.12. Others
4.4.12.1. Others Market, 2018 - 2030 (USD Billion)
4.5. Multi-Specialty Group
4.5.1. Multi-Specialty Group Market, 2018 - 2030 (USD Billion)
4.5.2. Primary Care
4.5.2.1. Primary Care Market, 2018 - 2030 (USD Billion)
4.5.3. OB/GYN
4.5.3.1. OB/GYN Market, 2018 - 2030 (USD Billion)
4.5.4. Ophthalmology
4.5.4.1. Ophthalmology Market, 2018 - 2030 (USD Billion)
4.5.5. Surgical
4.5.5.1. Surgical Market, 2018 - 2030 (USD Billion)
4.5.6. Psychiatry
4.5.6.1. Psychiatry Market, 2018 - 2030 (USD Billion)
4.5.7. Cardiology
4.5.7.1. Cardiology Market, 2018 - 2030 (USD Billion)
4.5.8. Anesthesiology
4.5.8.1. Anesthesiology Market, 2018 - 2030 (USD Billion)
4.5.9. Dermatology
4.5.9.1. Dermatology Market, 2018 - 2030 (USD Billion)
4.5.10. Radiology
4.5.10.1. Radiology Market, 2018 - 2030 (USD Billion)
4.5.11. Emergency Medicine
4.5.11.1. Emergency Medicine Market, 2018 - 2030 (USD Billion)
4.5.12. Others
4.5.12.1. Others Market, 2018 - 2030 (USD Billion)
Chapter 5. U.S. Physician Groups Market: Practice Size Estimates & Trend Analysis
5.1. Segment Definitions
5.2. U.S. Physician Groups Market: Practice Size Segment Dashboard
5.3. U.S. Physician Groups Market: Practice Size Movement & Market share Analysis
5.4. Fewer than 5 physicians
5.4.1. Fewer than 5 physicians Market, 2018 - 2030 (USD Billion)
5.5. 5 to 10
5.5.1. 5 to 10 Market, 2018 - 2030 (USD Billion)
5.6. 11 to 24
5.6.1. 11 to 24 Market, 2018 - 2030 (USD Billion)
5.7. 25 to 49
5.7.1. 25 to 49 Market, 2018 - 2030 (USD Billion)
5.8. 50+ physicians
5.8.1. 50+ physicians Market, 2018 - 2030 (USD Billion)
Chapter 6. U.S. Physician Groups Market: Ownership Estimates & Trend Analysis
6.1. Segment Definitions
6.2. U.S. Physician Groups Market: Ownership Segment Dashboard
6.3. U.S. Physician Groups Market: Ownership Movement & Market share Analysis
6.4. Physician-Owned
6.4.1. Physician-Owned Market, 2018 - 2030 (USD Billion)
6.5. Hospital-Owned
6.5.1. Hospital-Owned Market, 2018 - 2030 (USD Billion)
6.6. Private Equity-Owned
6.6.1. Private Equity-Owned Market, 2018 - 2030 (USD Billion)
6.7. Others
6.7.1. Others Market, 2018 - 2030 (USD Billion)
Chapter 7. U.S. Physician Groups Market: Region Estimates & Trend Analysis
7.1. Segment Definitions
7.2. U.S. Physician Groups Market: Segment Dashboard
7.3. U.S. Physician Groups Market: Region Movement & Market share Analysis
7.4. West
7.4.1. West Market, 2018 - 2030 (USD Billion)
7.5. Midwest
7.5.1. Midwest Market, 2018 - 2030 (USD Billion)
7.6. Northeast
7.6.1. Northeast Market, 2018 - 2030 (USD Billion)
7.7. Southeast
7.7.1. Southeast Market, 2018 - 2030 (USD Billion)
7.8. Southwest
7.8.1. Southwest Market, 2018 - 2030 (USD Billion)
Chapter 8. Competitive Landscape
8.1. Company Profiles
8.1.1. Cleveland Clinic
8.1.1.1. Overview
8.1.1.2. Financial Performance
8.1.1.3. Service Benchmarking
8.1.1.4. Strategic Initiatives
8.1.2. The Permanente Medical Group
8.1.2.1. Overview
8.1.2.2. Financial Performance
8.1.2.3. Service Benchmarking
8.1.2.4. Strategic Initiatives
8.1.3. Optum, Inc.
8.1.3.1. Overview
8.1.3.2. Financial Performance
8.1.3.3. Service Benchmarking
8.1.3.4. Strategic Initiatives
8.1.4. Select Physical Therapy
8.1.4.1. Overview
8.1.4.2. Financial Performance
8.1.4.3. Service Benchmarking
8.1.4.4. Strategic Initiatives
8.1.5. HCA Florida Healthcare Physicians (HCA, Inc.)
8.1.5.1. Overview
8.1.5.2. Financial Performance
8.1.5.3. Service Benchmarking
8.1.5.4. Strategic Initiatives
8.1.6. University of Pittsburgh Physicians (UPMC Physicians)
8.1.6.1. Overview
8.1.6.2. Financial Performance
8.1.6.3. Service Benchmarking
8.1.6.4. Strategic Initiatives
8.1.7. NYU Langone Health Physicians (NYC University Physicians Network)
8.1.7.1. Overview
8.1.7.2. Financial Performance
8.1.7.3. Service Benchmarking
8.1.7.4. Strategic Initiatives
8.1.8. Northwestern Medical Group (Northwestern Medicine)
8.1.8.1. Overview
8.1.8.2. Financial Performance
8.1.8.3. Service Benchmarking
8.1.8.4. Strategic Initiatives
8.1.9. HealthCare Partners IPA (HealthCare Partners, MSO)
8.1.9.1. Overview
8.1.9.2. Financial Performance
8.1.9.3. Service Benchmarking
8.1.9.4. Strategic Initiatives
8.1.10. Northwell Health Physician Partners (Northwell Health)
8.1.10.1. Overview
8.1.10.2. Financial Performance
8.1.10.3. Service Benchmarking
8.1.10.4. Strategic Initiatives
8.1.11. RWJBarnabas Health Medical Group
8.1.11.1. Overview
8.1.11.2. Financial Performance
8.1.11.3. Service Benchmarking
8.1.11.4. Strategic Initiatives
8.1.12. Ascension
8.1.12.1. Overview
8.1.12.2. Financial Performance
8.1.12.3. Service Benchmarking
8.1.12.4. Strategic Initiatives
8.1.13. Penn Medicine Physicians (The Trustees of the University of Pennsylvania)
8.1.13.1. Overview
8.1.13.2. Financial Performance
8.1.13.3. Service Benchmarking
8.1.13.4. Strategic Initiatives
8.2. Company Categorization
8.3. Company Market Position Analysis
8.4. Strategy Mapping
Chapter 9. Recommendations/Key Market Insights