1 in 5 physicians furloughed or taking pay cut due to COVID-19 — 5 insights

Practice Management

Roughly one-third of physicians reported they will change practice settings, leave patient care roles, temporarily close their practices or retire due to COVID-19, according to a recent survey conducted by physician search firm Merritt Hawkins and nonprofit The Physicians Foundation.

The survey included responses from 842 physicians.

Five takeaways:

1. Fourteen percent of physicians plan to change practice settings and 18 percent plan to retire, temporarily close their practices or opt out of patient care, which could pose a problem for healthcare organizations struggling with physician shortages and turnover.

2. Thirty-eight percent of physicians are seeing COVID-19 patients, and 30 percent of physicians treating those patients reported high stress.

3. Among physicians not seeing COVID-19 patients, 60 percent are willing to do so.

4. Roughly 1 in 5 physicians have been furloughed or taken a pay cut.

5. Thirty-four percent of physicians not treating COVID-19 patients have more time on their hands due to a pandemic-related drop in office visits.

Copyright © 2023 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Webinars

Featured Podcast

Featured Whitepapers