2020 was a difficult year for physician offices as patients put off routine office visits due to COVID-19 and offices experienced extreme revenue losses. The 2020 Physician Office Market Report analyzes major market trends impacting the industry including COVID-19, physician employment trends and reimbursement trends.
- Primary care practices are expected to lose $15 billion due to the pandemic
- 43% of physician offices reduced staff and 72% of physicians had income reductions during the first several months of COVID-19
- By 2033 a shortfall of 54,100 to 139,000 physicians is expected
Who Should Buy This Report
- Healthcare investors
- Health systems
- Healthcare distributors
- Healthcare manufactures
- Group Purchasing Organizations
- Government Health Agencies
- State Health Agencies
- Healthcare Providers
Table of Contents
- Executive Summary
- Physician Office Market Overview
- Physician Offices Experience Large Volume And Revenue Declines Due To COVID-19
- Majority Of Physicians Are Employed By A Hospital Or Health Group
- Specialists Outnumber And Out Earn Primary Care Physicians
- Physician Offices Receive $8.5 Billion In Loans In COVID-19 Relief
- Pandemic Dramatically Increases Telehealth Visits
- Top 50 Medical Group Companies
- Practices Reduce Staff To Offset COVID-19 Revenue Losses
- Paperwork, Financial Concerns, And COVID-19 Contribute To Physician Burnout
- Physician Shortages Projected To Increase
- Physician Assistants And Nurse Practitioners Help With Physician Shortages
- Fewer Physicians Expect To Participate In Incentive- Based Payment Models In 2020
- MIPS Participation Decreases While APM Participation Increases
- 97% Of Physicians Under MIPS Receive Positive Payment Adjustment
- MIPS Rewards Quality With Payment Adjustments
- 2020 MIPS Changes Expected To Lead To Increased Incentives
- Comprehensive Primary Care Plus Model Launch Delayed To 2021
- Electronic Health Records Implementation Increases Among Physician Offices
- Number Of Urgent Care Clinics Continues To Grow
- After Initial Declines, Urgent Care Volumes And Revenues Increase During COVID-19
- Community Health Centers Provide Healthcare To Lower Income, Uninsured Populations
- GHX Reports $6.8 Billion In Physician Office Sales Through Distribution In 2019
