COVID-19FinancialHospitals

Healthcare professional revenue falls nearly 50% during COVID-19 pandemic

June 10, 2020 / Jeff Lagasse, Associate Editor

In April, during the midst of the COVID-19 pandemic, healthcare professional services declined 68% in utilization and 48% in revenue based on total estimated in-network amounts compared to April 2019 nationally. In the Northeast, the region hit hardest at that time by the pandemic, professionals experienced particularly sharp drops in utilization (80%) and revenue (79%) in April.

These are among the findings of FAIR Health’s third COVID-19 study: Healthcare Professionals and the Impact of COVID-19: A Comparative Study of Revenue and Utilization.

During March and April, deferral of elective procedures and many routine in-person medical visits imposed a financial burden on healthcare providers and caused changes to their practices, such as a new emphasis on telehealth.

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Chris J. Stewart

Chris currently serves as Chief Executive Officer of Surgio Health as well as COO at Ortho Spine Partners. Chris has close to 20 years of healthcare management experience with an infinity to improve healthcare delivery through the development and implementation of innovative solutions that solve real problems that result in improved efficiencies, reduction of unnecessary financial & clinical variation, and help drive better patient outcomes. Previously, Chris was assistant vice president and business unit leader for HPG/HCA. He has presented at numerous healthcare forums on topics that include disruptive innovation, physician engagement, shifting reimbursement models, cost per clinical episode and the future of supply chain delivery.

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