The Hospital Employed Ophthalmologist: A Growing Segment of the Profession.

Abstract

To describe features of employment of ophthalmologists by hospitals and compare them to correlates in ophthalmologist-owned practices, private equity-owned practices, and public health sectors. Perspective essay. Historical summary and relevant literature review. Ophthalmologists with ownership in their practice have declined in the 21st century due to vertical integration by private equity groups and hospitals. Hospital employment and private equity employment share similarities: in both, a third party acquires control of a practice and exchanges revenue from the ophthalmologist for reduced business and administrative tasks. The evolving characteristics of ophthalmologists have created a mobile pool of applicants with enough physicians willing to trade compensation for other pillars of job satisfaction to make hospital employment viable. The variety of personalities and career stages of ophthalmologists allows for a feasible market of employment by hospitals. Education about market factors and management models can help residents, fellows, and later career ophthalmologists make informed employment choices.