Primary care physicians are facing challenges that threaten their very existence, and despite pivoting to virtual health and making other changes, they face a massive drop in volume and revenue. As a result of the financial cliff, some physicians are pushing for a new way to pay for primary care.
“I am convinced that when we get on the other side of the pandemic, the care delivery system is fundamentally going to change, but it is going to be a really painful trip getting through the pandemic,” says Tom Banning, Texas Academy of Family Physicians CEO, who has been working on what he calls a “Marshall Plan” to save primary care.
Dallas-based Merritt Hawkins surveyed physicians and found that 21 percent of physicians have been furloughed or experienced a pay cut, 14 percent plan to change practice settings as a result of COVID-19, 18 percent plan to retire, temporarily close their practices, or opt out of patient care, and 16 percent have or will cut reduce staff. Around one-third of physicians (32% percent) said that they will change practice settings, leave patient care roles, temporarily shut their practices or retire in response to COVID-19.