Please do not leave this page until complete. This can take a few moments.
More than half of primary care medical offices are weighing furloughs or layoffs and nearly half of medical procedural specialist offices are considering closing their practices because of the financial hit they've taken from the coronavirus pandemic, according to a study from the Massachusetts Health Policy Commission.
The results in a survey of more than 400 practices of all provider types across Massachusetts shows how significant the toll has been to not only acute-care hospitals treating the most ill patients but also practices that have had to upend their schedules during the worst of the pandemic.
Medical procedural specialists appear the hardest hit. More than 60% in that field said they were considering furloughs or layoffs, pay cuts, or cutting services or expenses, the survey found. Closing the practice was being weighed by 42%, and 33% said they were considering selling the practice.
More than half of primary care offices said they were considering furloughs or layoffs, pay cuts, or cutting services or expenses. In 22% of cases, primary care offices said they were considering merging with other practices, and 23% said they were considering closing their practice.
"That's dramatic and way above what I thought we'd be seeing," commission member Donald Berwick said at the commission's June 10 meeting of the number considering closing their practices.
Survey results did not specify whether practices had already taken such actions, according to details provided by the Health Policy Commission. The survey was done in late May to early June, with the commission working with the Massachusetts chapter of the American College of Physicians and other academic partners.
The results were weighed in consideration of the size of the practice. The sample is not necessarily representative of all practices and the results are preliminary, the commission said.
Stay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Sign upWorcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
SubscribeWorcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
See Digital EditionStay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments