This study examined 225 PE acquisitions of primary care practices during the period 2016–22. PE acquisition increased the number of services billed and patients seen by primary care physicians by 30 percent and 11 percent, respectively. Patients in PE-acquired practices received 12.9 percent more additional services, driven by laboratory testing and the Medicare annual wellness visit. PE acquisitions also increased the total number of primary care physicians and advanced practice providers, with the latter growing at a faster rate. Taken together, the results suggest that PE investments have the potential to increase the use of primary care services, in part through greater reliance on advanced practice providers.
Read the full article: Private Equity Acquisitions in Primary Care: Changes in Utilization, Spending, and Workforce //
Source: https://www.healthaffairs.org/doi/10.1377/hlthaff.2025.01703