A nationwide physician survey released by the American Medical Association (AMA) shows medical practices have recorded a 32 percent average drop in revenue since February, illustrating the impact of the COVID-19 pandemic, according to a press release from the association.
The AMA’s survey of 3,500 physicians also found that 81 percent of physicians surveyed said revenue was lower and that they were providing fewer in-person visits than in February.
Despite increased telehealth visits since February, almost seven out of 10 physicians were providing fewer total visits (in-person + telehealth). Total patient visits decreased by 50 percent or greater for more than one out of five physicians.
Not surprisingly, spending on personal protective equipment (PPE) also has increased by 50 percent or greater for nearly two out of five medical practice owners. Thirty-six percent of physicians said that acquiring PPE was very or extremely difficult, especially for smaller practices that lack purchasing power to compete with larger health systems.
The AMA’s survey was administered from mid-July through August 2020.
