How Primary Care Practices Have Survived the Coronavirus Pandemic
In the early phase of the pandemic last spring, primary care practices experienced dramatic reductions in patient volume as patients avoided medical offices due to fear of coronavirus infection.
In addition to the financial hit from reductions in patient volume, several PCPs discontinued offering "non-essential" services such as physicals to reduce potential coronavirus exposure for patients and staff.
"Most PCP respondents reported dramatically reduced revenue in the early phases of the pandemic. For example, a Massachusetts doctor reported that his practice experienced a 40% decline in revenue," the report says.
After the coronavirus crisis has passed, Corlette predicted there will be three dominant trends at primary care practices. "I suspect the trend toward consolidation and acquisition will continue, more practices will be open to taking on capitated forms of payments, and the delivery of services via telemedicine will be here to stay."
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