On Demand Webinar | Basic | Coronavirus
<div>As COVID-19 pandemic materialized and spread, it has changed so much about healthcare delivery, how we prepare, and how we go about our daily lives.&nbsp; We are reminded how fragile our health and the healthcare system can be. As an i...
Save
On Demand Webinar | Intermediate | Coronavirus
The COVID-19 pandemic is ravaging healthcare facilities, which is partly due to a lack of personal protective equipment (PPE) and other critical supplies.&nbsp; Vulnerabilities in the supply chain have been exposed. As such, hospitals shoul...
Save
On Demand Webinar | Basic | Coronavirus
In the wake of COVID-19, many healthcare providers that traditionally relied on physical office space had to quickly adapt their operations to meet regulatory guidelines and ensure the safety of their employees by shifting to remote work. O...
Save
On Demand Webinar | Basic | Coronavirus
Relying on aggressive financial policies and collection tactics won't help your organization adapt to the "patient as payer" model, especially after the pandemic.&nbsp; Instead, you need a strategy that helps patients easily navigate the fi...
Save
On Demand Webinar | Basic | Coronavirus
<div>The COVID-19 pandemic is causing major economic disruptions and has left many health systems struggling to find ways to drive cash supply and forecast budgets. The ability to pivot and prepare a financial operating plan that provides a...
Save
Blog | Coronavirus

McKinsey & Company survey: Physician perceptions of COVID-19 risk influence referral patterns

Blog | Coronavirus

McKinsey & Company survey: Physician perceptions of COVID-19 risk influence referral patterns

  • More than 40% of physicians reported that post-COVID-19 they will be more likely to refer patients to non-hospital facilities for procedures, office visits and diagnostic testing than they were pre-COVID-19, according to results of a recent McKinsey & Company survey.
  • The effect of referrals to non-hospital facilities was more pronounced for independent physicians than those who are employed, according to the survey.
  • A possible rationale for this is that physicians may be wary of the safety of hospital-based care in the return from COVID-19, although the survey did not include questions to that effect, according to the survey report.

A recent McKinsey & Company survey finds that, “More than 40 percent of physicians reported that post-COVID-19, they will be more likely to refer patients to non-hospital facilities for procedures, office visits, and diagnostic testing than they were pre-COVID-19 (Exhibit 4 [see the exhibit in the above McKinsey & Company link]), with a more pronounced effect on independent physicians than those who are employed. A possible rationale is that physicians may be wary of the safety of hospital-based care in the return from COVID-19, although the survey did not include questions to that effect."

Takeaway

It’s not surprising that physicians are concerned about the possibility of their patients (or the physicians themselves) contracting COVID-19 in a healthcare setting. We’ve heard many CFOs discuss the comprehensive checklists they used to safely reopen clinics and restart non-emergent procedures. The McKinsey findings illustrate the importance of both involving physicians in the development/execution of these checklists and communicating the use of these checklists and how they were developed to the medical staff (in addition to the general public). This also was a key theme in my conversation with three health system leaders during the HFMA Digital Annual Conference session “Navigating Through a Pandemic.”

Further, high-margin service lines that saw significant decreases in volume should receive additional focus. Orthopedics is one example. Hips, knee and spine procedures, three of the highest contribution margin hospital services, saw declines of between 79% and 99%. Given the importance of this service line, hospitals may want to adopt the American Association of Hip and Knee Surgeon’s recommendations to minimize the risk of COVID-19 spread as non-emergent orthopedic procedures are performed. The recommendations cover perioperative screening and administrative procedures, surgical team PPE usage, OR-suite environmental maintenance and clinical issues such as anesthesia use and wound closure devices. 

About the Author

Chad Mulvany, FHFMA,

is director, healthcare finance policy, strategy and development, HFMA’s Washington, D.C., office.

Advertisements

Related Articles | Coronavirus

Blog | Coronavirus

What can healthcare providers expect now that a COVID-19 relief package failed a procedural vote in the Senate

HFMA's Chad Mulvany says it’s not surprising the GOP's COVID-19 relief measure failed, given the package was negotiated without input from Democrats.

News | Coronavirus

ED, inpatient volumes have stagnated since June, analysis finds

Hospitals’ ED and inpatient volumes have not improved since the June surge in patients following the resumption of most hospital services after COVID-19 service suspensions were lifted.

News | Coronavirus

As states tweak Medicaid programs, enrollment increases fall far short of job losses

Medicaid enrollment increases have lagged far behind unemployment increases but are still pressuring states facing a budget squeeze during the recession.

News | Healthcare Reform

For Biden’s potential HHS pick, priorities include public option, hospital M&A, cost control

A Biden administration would push a public option, negotiate hospital prices and target hospital M&A, an adviser says.