Some physicians prefer the autonomy, reduced load of independent practices

A 2008 report on health care trends by the American Medical Association noted a "significant" shift from small physician practices to group practices and hospital employment, and predicted that trend could accelerate "primarily because of the greater leverage they can exert in negotiating private payment."

Another national study reported that the proportion of solo and two-physician practices had decreased from 40.7 percent in 1996-97 to 32.5 percent in 2004-05.

Still, there are clear advantages of a solo practice, starting with the freedom to run the business as you'd like. "If you ask a physician what it is they want, autonomy usually ranks above money," said Dr. Moyer.