<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=339317286824015&amp;ev=PageView&amp;noscript=1">
ByCameron Wood

How Poor Payer Reimbursements are Effecting Practices During the COVID-19 Pandemic

brave-declining-reimbursement-rates

 

Most physicians who have been practicing for a few decades remember the days when private payer reimbursements dwarfed Medicare reimbursements. That dynamic has long since flipped, starting with the 2008 recession. Reimbursements have been flat or have lost value from inflation, while practice costs have seen double-digit increases. Meanwhile, hospitals and insurance-owned health networks have seen reimbursements increase to 300% or more of Medicare in some cases, whereas it’s not uncommon for private practices to receive rates far below Medicare standards. Many practices have seen their volumes decrease from 30% to up to 90%, and a significant number are closing their doors for now. As states start to allow elective surgeries to resume in the coming months, some specialties will see some slight increases in patient volume, but this pandemic will have long-lasting repercussions for every practice and every specialty.  Whit that in mind, here are four examples of how the COVID-19 Pandemic is effecting specialties across the nation in real-time:

1