Physician Practices Are In Critical Condition Due To Coronavirus

Two weeks ago, prestigious management consulting firm McKinsey & Company published the results of a groundbreaking study looking into physician employment and the effects of the Covid-19 pandemic on the general landscape of medical practice. The report indicates that “[t]he demand shock from COVID-19 is unprecedented, and many physician respondents believe that the resulting loss of revenue will put their practices at financial risk. Six weeks into COVID-19, 53 percent of all independent physicians reported that they were worried about their practices surviving the COVID-19 challenge.”