decisionhealth Newsletters, Part B News - 2020 Issue 11 (November)
Pandemic practice fallout persists; shore up with short-term savings
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Article Overview
This article examines survey-based evidence on the pandemic’s continuing financial impact on physician practices, including revenue pressure, increased operating costs, and reduced patient volume. It also discusses broader business responses such as practice consolidation, concierge-style models, compensation changes, expense management, and other short-term savings strategies. The content is most relevant to physicians, practice administrators, and healthcare business managers looking for general operational guidance during COVID-era disruption.
Why This Topic Matters
The article helps readers understand how pandemic-related disruptions can affect practice finances and what broad management approaches were being considered to remain viable. It is useful for identifying the types of operational and financial pressures impacting independent practices during the COVID-19 period.
Article Sections
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Pandemic financial impact on physician practices
Summarizes survey findings on revenue changes, operating costs, and the effect of pandemic conditions on physician practices.
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Consolidation, concierge care, and practice model changes
Discusses broader structural responses practices may consider in light of changing patient volume and market conditions.
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Change how you pay
Covers general compensation and staffing approaches discussed as part of practice cost management.
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3 other ways to save
Outlines additional broad expense-reduction ideas related to business operations and common practice overhead.
What You Will Learn
- How the pandemic has affected physician practice finances
- What broad operational pressures are affecting patient volume and overhead
- Which general practice-management responses are being discussed during the COVID-19 period
- What types of short-term savings strategies practices may consider
Who Should Read This
- Physicians
- Medical practice administrators
- Healthcare managers
- Practice consultants
- Billing and operations staff
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