Corporate Giants Buy Up Primary Care Practices at Rapid Pace

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Article written by Reed Abelson, via on 08 May 2023

It’s no surprise that the shortage of primary care doctors — who are critically important to the health of Americans — is getting worse.
So why are multibillion-dollar corporations, particularly giant health insurers, gobbling up primary care practices?
CVS Health, with its sprawling pharmacy business and ownership of the major insurer Aetna, paid roughly $11 billion to buy Oak Street Health, a fast-growing chain of primary care centers that employs doctors in 21 states.
And Amazon’s bold purchase of One Medical, another large doctors’ group, for nearly $4 billion, is another such move.
The appeal is simple: Despite their lowly status, primary care doctors oversee vast numbers of patients, who bring business and profits to a hospital system, a health insurer or a pharmacy outfit eyeing expansion.

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