Florida Combined Otolaryngology Meeting 2024 – The Future of Private Practice

According to the American Medical Association, in the 1980s, 76% of physicians owned their practice, but in 2022, that number decreased to 44% of physicians. In another AMA report, between 2012 and 2022, the category of physicians younger than 45 who were self-employed decreased in number by 13%. Headlines are continually reporting on private practices that are closing, consolidation and practice buy-outs, or physicians retiring at an earlier age. Many physicians are opting to become employed in large health systems. Can private practice survive? The future may seem dim, but understanding the market forces and the changing medical landscape in the age of innovative technology and information could swing the pendulum in favor of keeping private practice alive to thrive and not merely survive! --Understand the current financial pressures and payment issues that affect the private practitioner --Gain knowledge about different private practice models which afford the ability to compete with large health systems --Learn how workforce challenges and innovative strategies can be leveraged to maximize operational efficiencies --Promote legislative advocacy efforts to ensure the sustainability of our specialty