COVID-19: how will it affect physician staffing in the US?
Regions where coronavirus cases are concentrated are being overwhelmed – increasing the need for providers, but potentially resulting in physician burnout. On the other hand, less affected areas are seeing patient volumes diminish. And, as a long-term consequence, this could change how people access healthcare: “hospital volumes may never go back to what they were.” This is owing to people accessing healthcare differently, as well as being scared of going to hospitals.
The specialist went into more detail about staffing companies’ operations, including cuts to pay and benefits. In addition, there could be long-term implications for physicians choosing to be locum tenuns rather than permanently placed. Another issue was pointed out: “they’re easy to start up, there’s a low barrier of entry into the market and with the surplus of companies that are starting up, it’s driving down cost.”
Payment and reimbursement dynamics were also explored. In hard hit areas, systems are unable to cope with the influx. “Their claims processes are archaic and falling behind. They still have individuals self coding different charts, instead of computer charting.”
Numerous other topics were covered, including what specialties will be most in need, staffing companies’ competitive positioning and whether there could be government assistance. The conversation ended with a 12-18 month outline of what could happen to this industry.
To access all the human insights from Third Bridge Forum’s COVID-19 Impact on Physician Staffing Industry Interview, click here to view the full transcript.
The information used in compiling this document has been obtained by Third Bridge from experts participating in Forum Interviews. Third Bridge does not warrant the accuracy of the information and has not independently verified it. It should not be regarded as a trade recommendation or form the basis of any investment decision.
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