Dermatology resident perspectives on practice ownership structures and private equity-backed group practices

Abstract

Recently, dermatology group practice ownership structures have changed, as private equity (PE) consolidates independent dermatology practices to create larger groups. Currently, little is known about how dermatology residents perceive practice ownership structures, including those that are owned by PE. One hundred thirty-seven residents from 32 dermatology residency programs responded to a 21-question anonymous survey. Approximately 65% of residents in this study were not open to working for PE-backed practices, and their negative perceptions of how PE influences quality of care, long-term salary, and physician autonomy were associated with their unwillingness to work at a PE-backed practice. Most residents in this study valued education about practice ownership structures, and approximately 43% of respondents did not feel adequately informed about practice options during residency. Future studies should evaluate how PE ownership of group practices influences practice parameters, including quality of patient care, physician autonomy, and long-term salary.