Dr. Crane sees acquisitions as a way to help physician practices survive: “The singular focus the house of emergency medicine in America, big or small and regardless of ownership model, should rally around is fair reimbursement.” Yet the advice may differ for newer physicians versus more seasoned ones. In a cautionary tale for young physicians, Dr. Dahle warns, “The only benefit I see to any private equity involvement is for a doctor at the end of her career to have an additional buyer for a practice.”

This article contains additional reporting from Medical Editor-in-Chief Cedric Dark, MD, MPH, FACEP, and ACEP staff. ACEP Now reached out to Paladin, the Healthcare Private Equity Association, Cerberus, Steward Health System, and Tenant for comment but did not receive any in time for press. The views expressed in this article do not represent an official position of the American College of Emergency Physicians.”

Dr. Lee is a second-year resident in emergency medicine at Highland Hospital in her hometown of Oakland, California. Her primary interests are in ultrasound, machine learning, and health justice.

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