With nearly 500 responses so far, ISMA is reporting initial results to the ongoing survey of practices statewide. The COVID-19 pandemic is having severe consequences for a significant majority of ISMA member practices:
- Over 80% of practices report a decrease in patient volumes and associated revenues of 40% or more.
- Just over 70% of practices report reduced staffing since the beginning of March, generally through fewer staff hours or temporary layoffs.
- Just over 50% of practices have already applied for emergency funding under the SBA’s Paycheck Protection Act to support payroll and some overhead expenses, while another 25% state they are likely to or might apply for this program.
- In addition to the ISMA COVID-19 Resources page, websites for ISDH, the CDC and local hospital systems were cited most frequently as sources of information for physician practices.
This survey runs through this weekend, so if you have not yet responded, please take a few minutes to share your thoughts about the impact on your practice from the COVID-19 crisis.
Business Impact Survey >>