The U.S. physician workforce is under growing pressure from multiple directions — economic uncertainty, burnout, declining autonomy and policy shifts.
A recent wave of data reveals concerning trends that are leaving many physicians alarmed about the future of their profession. Here are 10 statistics from recent studies and reports that are causing anxiety among physicians in 2024 and 2025
1. Only 42.2% of physicians were working in private practice in 2024, a dramatic decline from 60.1% in 2012, according to the American Medical Association’s Physician Practice Benchmark Report published May 29. Private practice has slipped below 50% representation in most medical specialties. Participation ranges from just 30.7% in cardiology to 46.9% in radiology.
2. In 2024, 6.5% of physicians reported working in private equity-owned practices, up from around 4.5% in 2020 and 2022, according to the AMA report.
3. Among independent physicians who sold their practices in the last decade, 70.8% cited inadequate payment rates as a major factor. Additionally, according to AMA, 64.9% cited the need for access to expensive resources, and 63.6% cited the administrative burdens and payer regulations as leading reasons. The economics and bureaucracy of solo practice are pushing physicians to exit.
4. The Medical Council of Canada saw a 750% increase in the number of Americans initiating the licensure process between late 2024 and mid-2025. Recruiting agencies reported a 65% spike in U.S. physicians exploring Canadian opportunities from January to April 2025.
5. The College of Physicians and Surgeons of Ontario reported receiving 260 license applications from U.S.-trained physicians and approved 116 in the first quarter of 2025. British Columbia licensed 28 U.S. physicians in the fiscal year ending February, triple the prior year’s total.
6. One in 6 physicians have contemplated or attempted suicide, a Feb. 21 Medscape report found. The rate of contemplated suicide rose from 9% in 2022 and 2023 to 15% in 2024.
7. Around 38% of physicians said they knew one or more colleagues who had either attempted or considered suicide.
8. In 2023, 45.2% of physicians reported at least one symptom of burnout, a decline from 62.8% during the COVID-19 pandemic in 2021, but still high, researchers at Stanford (Calif.) Medicine published April 9 in Mayo Clinic Proceedings. Researchers comparing this with the general population found that physicians consistently report higher levels of burnout.
9. According to Medscape’s “Physician Compensation Report 2025,” pay increases have stalled. Primary care physicians saw a 1.4% gain, reaching $281,000, and specialists saw just 1% growth, averaging $398,000. These are the slowest growth rates since 2021.
10. As of Jan. 1, Medicare payments to physicians dropped by nearly 3%. This ongoing issue stems from statutory requirements that keep Medicare spending “budget neutral.” Physicians say it’s contributing to financial strain, especially among those who care for large Medicare populations.
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