Top 25 physician groups by size and Medicare charges

What is the largest physician group based on Medicare charges?

Select Physical Therapy tops the list of largest physician groups based on Medicare charges with nearly $6 billion in Medicare charges. It is the only independent practice on the list and employs just over 9,000 physicians. The practice specializes in cardiology.

HCA Florida Healthcare Physicians takes the number two spot with more than $5.9 billion in Medicare charges with HealthCare Partners IPA slightly behind it in the number three spot with $3.8 billion in Medicare charges.

The number of physicians does not appear to impact the Medicare charges as some organizations, like Texas Oncology, do not make the list of largest physician groups based on the number of employees.

Two of the largest physician groups by Medicare charges have fewer than 1,000 physicians and specialize in oncology and anesthesia. Both specialties tend to see high-risk patients and perform more specialized procedures, which likely accounts for more Medicare charges.

What is a physician medical group?

A physician group practice involves one or more physicians operating as an organization to provide patient care. These can be classified as either private practices, in which a solo physician owns and manages their own office or group practices where two or more physicians administer care within the same facility.

Group practices, like those included in the lists above, are generally divided into two categories: single-specialty and multi-specialty. Some physicians work solely as part of a physician group practice, though dual employment between a group practice and a hospital or other care facility is not uncommon.

Independent physician group practices offer greater scheduling flexibility and financial security to physicians than solo physician practices, as well as more employee benefits like health insurance.

The larger size of a physician group practice means a wider patient population, allowing physicians to accept greater financial risk in the form of high-risk patients and specialized procedures.

Though physician group practices can be a more reliable employment choice than a solo practice, they may not offer as much support in managing administrative tasks and financial risks as hospitals and other traditional care facilities.

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