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. 2023 Feb 9;15(1):e56-e61.
doi: 10.1055/s-0043-1761289. eCollection 2023 Jan.

Trainee Perspectives of Private Equity's Impact on Ophthalmology

David S Portney  1 , Jenna Goldstein  2 , Sean T Berkowitz  3 , Taylor S Novice  4 , Shriji Patel  3 , Janice Law  3 , Bradford Tannen  4
Affiliations

Trainee Perspectives of Private Equity's Impact on Ophthalmology

David S Portney et al. J Acad Ophthalmol (2017). .

Abstract

Objective The accelerated involvement of private equity (PE) in ophthalmology has many potential implications for the future of the field. The aim of this study was to evaluate trainee perspectives on PE's impact on ophthalmology. Methods An electronic survey was sent to trainees via an online ophthalmology research newsletter. The survey assessed for career goals and perspectives on the involvement of PE and its impact across a variety of attributes. Results A total of 41 United States-based respondents responded to the survey, 68% were medical students and 32% were residents or fellows. Seventy-eight percent of respondents reported they would not consider working for a PE-owned practice. There was a negative perceived impact of PE for physician autonomy, long-term physician income, career advancement, and quality of care. There was a positive perceived impact for the number of physician extenders, more referral sources, financial support, bargaining with insurance companies, starting physician salary, and administrative burden. All respondents agreed (76% strongly agree, 24% somewhat agree) that education about practice options and ownership structures is important to include in residency program education, with preferred modalities of small group discussions and on-site learning. Conclusions Trainees broadly perceive PE to negatively impact the practice of ophthalmology. While there were attributes perceived to be positively impacted by PE, these were not felt to be as important as those which may be negatively affected. New modalities for education about practice ownership options are necessary, and small group discussions and on-site learning may be of the highest yield for trainees.

Keywords: medical students; practice management; private equity; residency program education.

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Conflict of interest statement

Conflicts of Interest Dr. Shriji Patel receives grant funding from Alcon. Dr. David Portney is a co-founder of The Lens Newsletter, LLC. There are no other conflicts of interests or financial disclosures to report.

Figures

Fig. 1 Perceived impact of private equity (PE) on a variety of practice attributes.
Fig. 1 Perceived impact of private equity (PE) on a variety of practice attributes.
Respondents felt that physician autonomy, long-term physician income, career advancement, and quality of patient care would be negatively impacted by PE. Respondents felt that the number of physician extenders, referral sources, financial support for expansion, bargaining power with insurance companies, starting physician salaries, and administrative burden would benefit.
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