Small Physician Practices Struggle During Pandemic
Despite the need for health care during the ongoing public health emergency, this is an especially difficult time for independent medical practices. These small offices must compete with hospitals for grants or with small businesses for loans, all while absorbing increased costs for protective equipment and decreased revenue from postponed patient visits.
Many small doctors’ practices are struggling to survive as many patients shelter at home and put off consultations for all but the most urgent issues. Although they’re still ministering to patients amid a health crisis, they’ve been unable to get loans under the Paycheck Protection Act, passed as part of the coronavirus relief package in late March.
A survey done by a Richmond-based advocacy group for primary care doctors, called the Larry A. Green Center, found that half the doctors who sought such loans were unsuccessful. Of 2,774 doctors who responded to the survey, 19 percent said they had to temporarily close their practices because of financial problems; 42 percent had to lay off or furlough staff. About 10 percent say they will have to close in the next month because of financial shortfalls.
It remains to be seen whether Congress will act on the recommendations of the American Medical Association and provide additional financial support specifically for these types of medical practices.