3 keys for physicians to keep their medical practice running in the time of coronavirus
The coronavirus pandemic has left many physician practices struggling to stay afloat.
“The big takeaway for us is that every primary care practice in the country is at significant risk right now because of the way we have paid primary care,” said Dan Bowles, senior vice president at Aledade, a company that partners with independent primary care practices across the country.
Bowles, who has been leading the company’s efforts to help doctors navigate the coronavirus crisis financially, said some cash-strapped practices are wondering if they will have to close their doors.
Some practices have only two to three weeks of cash on hand. Some are exploring layoffs or have already laid off staff. Some are talking about closing or at least shuttering their doors until the economic crisis resulting from coronavirus passes with the hopes of reopening.
But there are things practices can do to shore up their finances and keep their doors open, said Bowles…