Private Equity Acquisition of Physician Practices—Looking for Ethical Guidance From Professional Societies

In 2012, private equity firms purchased approximately 75 physician-owned practices; by 2021, that number had risen to almost 500. However, private equity acquisitions can also lead to ethically troubling consequences. For example, to maximize the return on their investments, private equity firms sometimes pressure clinicians to see more patients, perform more procedures on those patients, and upsell patients on products not reimbursed by insurance, such as acne creams stocked in dermatology offices.

In this Viewpoint in JAMA Health Forum, I argue that medical professional societies (like the AMA, the American Academy of Dermatology, etc) are not providing enough guidance to help physicians navigate this treacherous ethical terrain.