In April, the California Medical Association’s (CMA) first COVID-19 Physician Financial Health Survey found widespread concern about the financial health of physician practices. At that time, 95% of practices reported they worried about their financial health due to the COVID-19 public health emergency, with an average revenue decrease of 64%. Now that we are six months into the pandemic, CMA conducted a follow-up survey to reevaluate practice viability. The COVID-19 pandemic has created an unprecedented threat to the viability of physician practices.
The fallout from this crisis threatens to fundamentally alter California’s health care delivery system not just during the COVID-19 outbreak, but for years to come. The results highlight the immediate need for financial assistance for physician practices.
For more details, see the complete survey results.