AMA survey finds physician practice viability under threat

CHICAGO — The viability of physician practices remains under threat as the battle against the COVID-19 pandemic takes a new turn with record levels of cases being reported across the United States. A new nationwide physician survey issued today by the American Medical Association (AMA) shows medical practices have been economically stressed by the public health crisis with a 32% average drop in revenue.

“Physician practices continue to be under significant financial stress due to reductions in patient volume and revenue, in addition to higher expenses for supplies that are scarce for some physicians” said AMA President Susan R. Bailey, M.D. “More economic relief is needed now from Congress as some medical practices contemplate the brink of viability, particularly smaller practices that are facing a difficult road to recovery.”