Strategies | Business strategy and the bottom line |
The Path
Forward
The four pillars of recovery from the 2021 pandemic
W
hen the COVID-19 pandemic hit, many healthcare practices ground to a halt. Fears about the virus and shifting markets stifled patient and procedure volume, suppressed revenue, and brought workers to the brink of exhaustion. Patient volumes in physician practices dipped as much as 30% to 75% by April 2020. Many patients put off screening tests, such as screening colonoscopy, which are often the bread and butter of endoscopy units. In fact, nearly 200,000 people had missed their colonoscopies by October of last year. Mass vaccinations are providing a glimmer of hope that 2021 will be closer
8 PE GI Journal June 2021
to normal. However, after nearly a year of fumbling in the darkness, tribulations, and turmoil, it may be difficult for some practitioners to remember what “normal” looked like, much less navigate back to it. It can also be tough to imagine surviving a second pandemic, if a similar situation should arise in the future. Practices can take four steps to recover from lackluster patient volume and lost revenues associated with COVID-19. Integrating these four strategies into the organization’s overall structure can help a practice maintain operations in the event of another pandemic.
iStock.com/Thomas Kelley
By Lynn Hetzler
