News Report | April 30, 2020
Medical Practices Report 55% Decrease In Revenue Due To COVID-19
A recent survey of medical practices found that practices report a 55% decrease in revenue and 60% decrease in health care consumer volume since the beginning of coronavirus disease 2019 (COVID-19). Overall, 97% of practices have experienced a negative financial impact directly or indirectly related to COVID-19.
At the same time, 48% of medical practices have furloughed staff since March 13, 2020, when the national public health emergency due to COVID-19 was declared. Many practices that had not yet implemented staff layoffs or furloughs at the time of the study would consider doing so if conditions persist . . .