Over the past ten years, we have witnessed a concerning trend in ophthalmology and other medical specialties. Private equity firms are purchasing medical practices from physicians. Generally, this sale occurs when the senior partners are slowing down or retiring and looking to sell their equity in the business. Often, these are large, multi-physician groups that carry a high price tag. The junior doctors cannot afford to or are unwilling to purchase the practice at such a high cost. A buyer is sought outside the group, and private equity firms have been purchasing these practices. Many junior doctors, who are not part owners of the practice, then leave as they consider themselves to be on the “losing end “of the deal.

However, the most important group that can be negatively affected by this arrangement, in my opinion, are the patients. The practice is no longer entirely physician driven. The private equity owners are often hoping to sell the business after they increase the valuation. They attempt to improve the bottom line by increasing revenue and cutting expenses. In some cases, pressure is applied to physicians to see more patients, order more testing, and do more elective “cash procedures.” At Eye Specialists, we are physician owned and physician driven. The patient has come first for 20 years and will continue to do so for as long as we practice.

Alfred Paul, MD