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Medical practice layoffs projected to reach 36 percent in May
Posted on 4/20/20 at 8:03 am
Posted on 4/20/20 at 8:03 am
quote:
Medical group practices of all sizes and specialties have taken a financial hit from the COVID-19 pandemic, according to new survey results from the Medical Group Management Association.
The Medical Group Management Association surveyed 724 medical practices April 7-8. About 75 percent of respondents were part of independent medical groups with fewer than 50 full-time equivalent physicians.
Three takeaways:
1. COVID-19 has had a negative financial effect on 97 percent of practices, whether indirectly or directly.
2. Practices reported an average decrease in revenue of 55 percent. Patient volumes have dropped 60 percent on average since the crisis began.
3. As of April 8, 22 percent of respondents had laid off employees and 48 percent had furloughed workers. Those numbers are projected to reach 36 percent and 60 percent, respectively, within a month.
LINK
17
Posted on 4/20/20 at 8:05 am to Darth_Vader
Guess they should have chosen a different industry. 
Posted on 4/20/20 at 8:05 am to Darth_Vader
quote:Medical practices have taken a financial hit because the government told them they couldn’t work. FIFY
Medical group practices of all sizes and specialties have taken a financial hit from the COVID-19 pandemic
As with many other jobs, they should have remained functioning.
They could have done far more good that way.
Shutting down clinics was such an asinine thing to do.
This post was edited on 4/20/20 at 8:06 am
Posted on 4/20/20 at 8:06 am to Darth_Vader
quote:
Medical Group Management Association
Who?
This is an association of secretaries?
Posted on 4/20/20 at 8:06 am to Scruffy
We need to wait and see what the effects of the shutdown are
Posted on 4/20/20 at 8:06 am to Scruffy
The “no elective procedures” thing has zero justification now that hospitals and vents aren’t anywhere near being overwhelmed
Posted on 4/20/20 at 8:06 am to Scruffy
Yep, it’s Just another small business that is getting creamed because of this nonsense.
Posted on 4/20/20 at 8:08 am to Scruffy
quote:
Medical practices have taken a financial hit because the government told them they couldn’t work. FIFY
As with many other jobs, they should have remained functioning.
They could have done far more good that way.
Seeing that the purpose of the lockdown was to prevent the collapse of the healthcare system in our country, I wonder what effect losing almost half our medical practices will have?
Posted on 4/20/20 at 8:08 am to Tiguar
quote:100%
The “no elective procedures” thing has zero justification now that hospitals and vents aren’t anywhere near being overwhelmed
But clinics are a different thing entirely.
The fear of shutting down elective procedures was to free up bed space and ventilators if needed.
There is no justification for shutting down clinics.
Posted on 4/20/20 at 8:08 am to Scruffy
quote:
Medical practices have taken a financial hit because the government told them they couldn’t work. FIFY
Exactly. A buddy of mine is a pain management doc. He makes shite off of telemedicine and he can only do necessary procedures. Procedures are where he makes his money. He's laid off most of his staff and the rest are at 20 hours a week or less.
Posted on 4/20/20 at 8:08 am to Darth_Vader
Nobody in healthcare is doing well except those directly working with corona patients. Hospitals and clinics are getting shite on.
Posted on 4/20/20 at 8:10 am to Darth_Vader
quote:Our politicians, the doomcasters on here, and all of the Karens see no more than 3 feet in front of their noses.
Seeing that the purpose of the lockdown was to prevent the collapse of the healthcare system in our country, I wonder what effect losing almost half our medical practices will have?
There is no concept of long term planning or thought.
The impacts of their decisions/beliefs are irrelevant because they can’t think that far ahead.
This post was edited on 4/20/20 at 8:12 am
Posted on 4/20/20 at 8:11 am to TigersSEC2010
quote:
Nobody in healthcare is doing well except those directly working with corona patients. Hospitals and clinics are getting shite on.
Pharmacies are getting shite on as well with no docs writing scripts. Ours would be in a real bind if it wasn't for the nursing homes we service...
Posted on 4/20/20 at 8:11 am to TigersSEC2010
quote:They aren’t even doing well.
Nobody in healthcare is doing well except those directly working with corona patients.
ER physicians are having hours and pay cut.
ICUs and ERs do not keep the doors open.
Everyone is losing in this scenario.
Posted on 4/20/20 at 8:12 am to TigersSEC2010
PPE had a lot to do with it also. Let’s not act like 100% of those told not to work would be working. You think the hospital nurses are bitching, what about the clinic nurses that would be asked to work?
Posted on 4/20/20 at 8:14 am to baldona
quote:That was not used once in the justification to shut down clinics and all ancillary services.
PPE had a lot to do with it also.
Please find a quote or link stating that, because we would all love to read it.
Posted on 4/20/20 at 8:17 am to Scruffy
quote:
That was not used once in the justification to shut down clinics and all ancillary services.
Please find a quote or link stating that, because we would all love to read it.
I’m not disagreeing. I don’t have quotes. But it was said over and over that we needed to shut down other healthcare to save PPE for those that ‘needed’ it.
Are you disagreeing with that?
Look, I’m just pointing out the obvious all the while I agree they should have never been forced to shut down.
All I’m saying is there would be plenty of healthcare workers mad if they were working right now and out right refusing.
Posted on 4/20/20 at 8:19 am to baldona
quote:
All I’m saying is there would be plenty of healthcare workers mad if they were working right now and out right refusing.
Then they can sit at home and complain on Facebook. Or post some new tiktok videos.
Posted on 4/20/20 at 8:20 am to Scruffy
quote:
Medical practices have taken a financial hit because the government told them they couldn’t work. FIFY
As with many other jobs, they should have remained functioning.
They could have done far more good that way.
Shutting down clinics was such an asinine thing to do.
Thats not really true.
People stopped going to the doctor UNLESS it was Covid or an emergency.
volume plummeted.
I work in physician compensation for a major medical system. Our issue isnt shutdown practices. Its lack of volume.
Sure, elective surgeries would help but who knows if people will do them.
This post was edited on 4/20/20 at 8:22 am
Posted on 4/20/20 at 8:20 am to baldona
Texas opens up their hospital's this Wednesday to all surgeries and the hospitals will fill up again.
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