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The business of healthcare has evolved significantly over the last two decades as stakeholders, from providers to policymakers, have looked for ways to manage costs while improving patient outcomes and achieving health equity. More and more independent practices have been purchased by health systems, offering economies of scale while promoting provider accountability for the delivery of high-quality, equitable, and more affordable healthcare services.
Now a new player–corporate healthcare–has entered the market. In 2021, 52 percent of physicians were employed by corporate healthcare companies instead of traditional medical groups, hospitals, and health systems. Amazon, Aetna CVS, and Walmart have acquired practices and hired new physicians, and they are marketing telehealth and personal visits at their clinic locations. They are doing so while participating in value-based care, the dominant payment reform movement.