UPDATE: PE physician-practice deals on pace to fall by half in 2026

Plus: NAACOS asks CMS to extend ACO REACH through 2027 as LEAD looms. The day's rules, money, and enforcement, sourced and tiered below.

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Plus: NAACOS asks CMS to extend ACO REACH through 2027 as LEAD looms. The day's rules, money, and enforcement, sourced and tiered below.

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The Service Line Monday, August 31, 2026
UPDATE: PE physician-practice deals on pace to fall by half in 2026
Plus: NAACOS asks CMS to extend ACO REACH through 2027 as LEAD looms. The day's rules, money, and enforcement, sourced and tiered below.
Report  Confidence: High
Private equity built the physician-practice industry on 851 deals in 2021. This year it's on pace for about 105, and primary care is one of the specialties investors are fleeing fastest.
At least 25 states have passed or proposed laws restricting private equity control of medical practices. Three, California, Oregon, and Rhode Island, took effect in 2026. PE has spent $1 trillion on healthcare deals over the past decade.
Why it matters
Fewer private equity buyers are competing to acquire physician practices, which affects who owns your doctor's practice and how it's run. Watch whether state restrictions expand to more specialties and states.
Sources: STAT · Stateline · Ca
Rule  Confidence: Medium
The trade group representing most Medicare accountable care organizations (ACOs) says CMS's own plan to retire one ACO model and launch another doesn't give doctors enough time to prepare.
NAACOS wants CMS to extend ACO REACH through 2027, since the LEAD Model's Jan 1, 2027 start gives REACH's roughly 115 ACOs little runway. CMS hasn't responded. LEAD's next phase starts Sept 15, 2026.
Why it matters
Medicare's accountable care system is mid-transition, and the trade group representing most ACOs says the timeline is too tight. Watch for a CMS response before the September 15 Implementation Period begins.
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In-home primary care ACO Bloom Healthcare acquires DFW house-calls practice Read
Only 48% of primary care shortage-area need is met nationally Read
Medicare's 2027 fee schedule cuts fee-for-service primary care pay more than value-based pay Read
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