Primary care physicians’ practices have been uniquely affected by the COVID-19 pandemic. They are coping with a decline in patient volume — and revenue — because individuals are more afraid to leave their home, while also trying to manage with reducing staffing levels, largely due to increased demands for child care that are forcing employees to stay at home instead of being able to go to work. While many physicians have pivoted to accepting more visits via telehealth platforms, it has not completely offset the decline in patient volume and has left many practices scrambling to figure out how to stay in business.
Nearly half of the respondents to a survey ([https://www.pcpcc.org/2020/
Primary care practices are projected to lose nearly $70,000 in revenue per physician in 2020, according to one study, which was released this summer. The loss in revenue is attributed to a decrease in the number of patients visiting a practice and the lower revenue associated with converting some visits to telehealth appointments.
The revenue that has been lost and the stress that has been ramped up will hopefully start to normalize in 2021 as the distribution of the COVID-19 vaccines becomes more widespread, but the ramifications of 2020 will be felt for years to come. Taking important steps, like staying engaged with patients and maximizing the collection of unpaid debts, can go a long way toward helping practices get back on their feet faster, and make the difference between just staying in business and thriving.
As the calendar turns to a new year and a sense of optimism continues to creep its way back into our lives, there are plenty of reasons to be grateful and hopeful for what is to come.
PPMS is a management system for recovery agencies based upon developing, implementing and adhering to a set of strict industry-specific professional practices and policies.
PPMS certiﬁcation, much like a SAS-70 audit, requires independent CPA attestation that an agency has in place written policies, procedures, and work processes that ensure regulatory compliance and adherence to industry best practices. The agency must also demonstrate that it has procedures in place to identify and remediate any variance from these. PPMS certiﬁed agencies are subject to annual surveillance and must re-certify every ﬁve years.
An agency that has voluntarily undergone the PPMS application and certiﬁcation process is, quite simply, a better business partner than one which has not. This rigorous process results in:
This strict accreditation insures that you as HCI clients, receive the very best service.
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— Christian Lehr, VP/COO