HSG’s own Dr. Terry Mcwilliams was recently interviewed by Leigh Page and quoted in the recent Medscape online article COVID-19: What Will Happen to Physician Income This Year?
Dr. McWilliams is quoted as saying “A lot of the A/R [accounts receivables] for practices come within 30 days, and very little comes in after 90 days… So private practices are reaching the point where A/R will start to dwindle and they will start feeling the decline in new claims submissions.”
Additionally, when questioned about current patient volumes, Dr. McWilliams stated, “Hospitals’ patient volumes have fallen by 50% to 90%… Lower volume means lower pay for employed physicians, whoa re paid by straight productivity or other models that require high volumes. However, some health systems have intervened to make sure these physicians get some money.”
Read the full article published by Medscape and learn more about the impact of COVID-19 on employed physician income, adapting to a new world, and what the potential impact on compensation may be if a new wave of COVID-19 is experienced.
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HSG builds high performing physician networks so health systems can address complex changes with confidence. From boosting market power and financial strength to preparing for value-based care, HSG can help you define your strategy, implement that strategy, and manage your physician network short or long-term. HSG, a Louisville-based, national healthcare consultancy firm, can be reached via their website, LinkedIn, by emailing info@hsgadvisors.com, or by calling (502) 814-1180.