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A recent study by Avalere, a leading healthcare consulting firm, shows:

• Medicare expenditures for beneficiaries in private physician practices affiliated with private equity were, on average, 9.8% lower than for similar patients in hospital-affiliated practices in 2022.
• Beneficiaries in private equity-affiliated practices had, on average, 13.5% fewer days in the hospital and 7.9% fewer visits to the emergency department than similar patients in hospital-affiliated practices.
• Across the five medical specialties studied, per-beneficiary Medicare expenditures for beneficiaries whose physicians moved from unaffiliated private practice to a private equity affiliation were on average $963 lower in the 12 months following the transition.
• By contrast, per-beneficiary Medicare expenditures for beneficiaries whose physicians moved from unaffiliated private practice to corporate affiliation across the five specialties were on average $1,140 higher in the 12 months following the transition.
• Medicare expenditures for beneficiaries whose physicians moved from unaffiliated private practice to hospital affiliation across the five specialties were even higher — $1,327 per beneficiary higher on average in the 12 months following the transition.