AXIOS April 20, 2020
The coronavirus is shriveling the businesses of doctors’ practices, which serve as the home base for most patients.
The big picture: Small and independent groups that are facing the most severe cash crunches eventually may be forced into two less-than-ideal options: sell the practice, which would further consolidate the industry and expose patients to higher costs, or close their doors for good.
Where it stands: Loans and bailout money are helping some doctors stay afloat for now. And the federal government and health insurers are paying doctors for telehealth visits, but that isn’t making up for lost revenue.
- Some doctors are reporting that revenue is falling anywhere from 50% to 90%, according to doctors and others who work closely...
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