Why PE Is Buying Up Primary Care Practices

Private equity firms have poured more than $50 billion into physician practice acquisitions since 2020, but the primary care model is different from the dental and vet roll-ups that came before. This episode looks at how firms like Welsh Carson and New Mountain Capital are buying independent primary care groups, what the per-physician economics look like, and why Medicare Advantage reimbursement is the hidden variable that makes these deals work. We walk through the structure of a typical roll-up, the margin stack from patient visit to capitated payment, and the regulatory headwinds that could slow the wave. Lucas and Luna also discuss whether the model actually saves money for the health system or simply shifts costs to insurers and patients. #PrivateEquity #PrimaryCare #Healthcare #PE #PhysicianPractices #MedicareAdvantage #RollUp #WelshCarson #NewMountainCapital #HealthcareInvesting #Capitation #Finance #Business #FexingoBusiness #BusinessPodcast #Investing #HealthPolicy #MergersAndAcquisitions Keep every episode free: buymeacoffee.com/fexingo