Orthopedic group VP: COVID-19 losses 'will inevitably result in our need to consolidate'

Angie Stewart -   Print  |

Amherst, N.Y.-based Excelsior Orthopaedics is rethinking its business strategy and postponing plans for a new facility over projected financial losses related to COVID-19, Buffalo Business First reports.

Along with delaying construction of the downtown physical therapy site, Excelsior plans to reduce capacity or temporarily close a location in Springville, N.Y. Excelsior's surgery centers remain open with additional capacity, as some patients have voluntarily delayed nonessential procedures.

Continued operations will require more collaboration among providers than normal, Vice President of Business Development Mark Wolbert told Buffalo Business First.

"We haven't seen a wild swing in volume, but that's not to say we don't think it will happen, especially if we are locked down or forced," Mr. Wolbert said. "The reality of the situation is, especially for a specialty group like ours, we have to see patients and perform surgeries to be paid, so the reduction in that capacity and our ability to do that will inevitably result in our need to consolidate."

More articles on practice management:
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Resurgens Orthopaedics postpones elective surgeries, remains open for urgent care

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