HealthLeaders Media April 14, 2020
Practices report a 60% average decrease in patient volume and a 55% average decrease in revenue since the beginning of the public health emergency, an MGMA survey finds.
Ninety-seven percent of physician practices have experienced a negative financial impact from COVID-19, finds a new Medical Group Management Association (MGMA) survey.
The financial impact is both directly and indirectly related to the outbreak, the survey said.
Specifically, practices report a 60% average decrease in patient volume and a 55% average decrease in revenue since the beginning of the public health emergency.
In addition, many practices have started furloughing and laying off employees, and more plan to do so as the weeks and months of crisis drag on, respondents said.
Because of...
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