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Industry Landscape
The medical professional association industry is experiencing dynamic shifts, driven by evolving healthcare policies, technological advancements, and the ongoing need for physician advocacy. Organizations are increasingly focusing on providing comprehensive resources, fostering strong professional networks, and influencing legislation to support quality patient care and physician well-being amidst challenges like rising costs and administrative burdens. There's a growing emphasis on inclusivity and addressing the needs of diverse physician groups.
Total Assets Under Management (AUM)
Number of Physicians in United States
~Approximately 1.1 million (active physicians in the US)
(1.4% (2022-2032 projected average annual growth for physicians and surgeons) CAGR)
- Growth driven by an aging population and increased demand for healthcare services.
- Influenced by physician retirement rates and new medical school graduates.
- Distribution varies by specialty and geographic region.
Total Addressable Market
25.2 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Administrative Tools
AI tools for automating administrative tasks like scheduling, billing, and record-keeping, reducing physician burden and improving efficiency.
Telehealth Platforms
Advanced telehealth solutions that facilitate remote consultations, monitoring, and specialist referrals, increasing access to care and reducing physical visit needs.
Data Analytics for Healthcare Policy
Leveraging big data and analytics to identify trends, predict outcomes, and inform evidence-based healthcare policy decisions and advocacy efforts.
Impactful Policy Frameworks
California Assembly Bill (AB) 35 (2023)
AB 35 extends the temporary telehealth flexibilities that were put in place during the COVID-19 pandemic, making many of them permanent, including payment parity for certain services.
This policy ensures continued reimbursement for telehealth services, encouraging physicians to adopt and expand virtual care offerings, directly impacting LACMA's members' practice models.
California Senate Bill (SB) 184 (2023)
SB 184 modifies the requirements for medical liability lawsuits (MICRA reform), increasing the cap on non-economic damages in medical malpractice cases over several years.
This reform significantly impacts medical professional liability insurance costs and the overall risk landscape for physicians, a key advocacy area for LACMA.
Federal No Surprises Act (2022)
The No Surprises Act protects patients from surprise medical bills for emergency services and certain non-emergency services provided by out-of-network providers.
This federal legislation requires transparency in billing and establishes a dispute resolution process for out-of-network charges, directly affecting physician billing practices and revenue cycles.
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