New Physician Practice Options: Choosing Your Practice Setting
Finishing residency is a major milestone, and what comes next is one of the most important decisions of your career: choosing a physician practice setting. The path you select will shape your professional life, influencing everything from your daily schedule and level of autonomy to your long-term financial growth.
Each type of medical practice offers a unique environment, appealing to different personalities and career goals. Some physicians thrive on the entrepreneurial challenge of running their own business, while others prefer the stability and built-in support of a larger organization.
This guide will walk you through the most common physician practice options available in 2026 to help you make an informed choice that aligns with your professional aspirations.
Exploring Your Physician Practice Options
As the healthcare landscape evolves, so do the opportunities for physicians. Here’s a breakdown of the primary types of medicine practices you can consider.
Group Practice
Joining a group practice remains a popular choice for physicians entering post-residency employment. These practices can range from small, single-specialty groups to large, multi-specialty organizations with hundreds of physicians.
- Single-specialty groups consist of physicians in the same field, which can foster a collaborative environment focused on a specific area of medicine.
- Multi-specialty groups employ a mix of primary care physicians and specialists. This model can improve continuity of care, as referrals and consultations happen under one roof. However, potential downsides include higher overhead costs and the possibility of political divides between different specialties over revenue generation and resources.
Group practices generally offer a stable salary with a production-based bonus, an established patient base, and administrative support for billing, coding, and compliance. This structure allows new physicians to focus on patient care rather than the complexities of running a business. The trade-off is often a degree of lost autonomy and a "junior partner" status early on.
Private Solo Practice
For the entrepreneurial physician, private solo practice offers the greatest level of autonomy. In this setting, you build and manage your practice from the ground up. You are responsible for everything from patient acquisition and staffing to billing and compliance with employment laws.
The primary advantage is complete control—you decide your hours, the patients you see, and how you practice medicine. Your income is directly tied to your efforts, as you keep everything you earn after covering overhead. However, this path requires significant business acumen and involves more administrative work and on-call responsibility. Solo practice is often a rewarding option for physicians who enjoy the challenge of running a business and may be the only viable choice in some rural areas.
Partnership or Association
- Partnerships and associations offer a middle ground between solo and group practice.
In a partnership, two or more physicians share assets, overhead costs, and decision-making power. It combines the financial benefits of cost-sharing with professional support. The success of a partnership hinges on finding the right partner, as disagreements can easily strain the professional relationship. - In an association, physicians share office space and other assets but maintain separate finances. Each physician functions like a solo practitioner in terms of earnings and workload but benefits from reduced overhead.
Hospital-Based Employment
Working directly for a hospital is another common path for physicians. This includes traditional hospital-based roles like anesthesiology, radiology, and emergency medicine, as well as the growing field of hospitalist medicine. Hospitals may also own and operate group practices.
The benefits of hospital employment include a dependable salary, a built-in patient base, and robust administrative and clinical support. Physicians in this setting often have opportunities to participate in hospital governance through committee work. The downside can be limited autonomy compared to private practice. An emerging trend is specialty hospitals, which often offer physicians a stake in ownership.
Locum Tenens
While typically requiring a few years of experience, locum tenens work is a valuable option to consider for your future. As a locum tenens physician, you take on temporary assignments that can last from a few days to several months.
This career path offers unmatched flexibility, allowing you to explore different types of medical practices, work environments, and geographic locations without a long-term commitment. It's an excellent way to gain diverse experience and decide which practice setting is the best fit for you in the long run.
Find the Right Physician Job for You
Choosing the right physician practice setting is a personal decision that depends on your career goals, personality, and desired lifestyle. By carefully weighing the pros and cons of each option, you can find a path that offers both professional satisfaction and personal fulfillment.
Ready to explore your options? AMN Healthcare offers a wide range of physician jobs across all practice settings. Our team is here to help you find the perfect fit for the next stage of your career.
