Elissa’s an RN, BSN, published clinical researcher, Managing Partner at Phase2 Health, & founder of the provider social media platform, AIM.
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It’s a jungle out there for independent healthcare practices. Amid all the noise of mega-system M&As and budget redlining, small-center OBGYNs, dermatologists and others are just struggling to keep their businesses afloat in this COVID-19 environment.
The financial wreckage of the pandemic hit these clinics hard: Out of 724 medical practices, 97% experienced a decline in their revenues, according to a 2020 Medical Group Management Association survey. One Georgia pediatrician said her volumes dropped down to just a fraction of what they were before the pandemic at only 20%-30%.
But the devastation keeps on coming: Right now, the pandemic still rages on, many have lost insurance and economic problems have raised new financial concerns for patients who never had them before. And all the while, practices have…