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Physician Recruitment Drops by 30% Because of Pandemic
Up to one third of practices may shutter as doctors scramble to find jobs that aren't there, according to a Merritt Hawkins report. The firm sees this as a temporary trend.
www.medscape.com
The survival of many private practices is now in question. "Based on the losses physician practices have sustained as a result of COVID-19, some markets could lose up to 35% or more of their most vulnerable group practices while a large percent of others will be acquired," the authors write.
Hospitals and health systems will acquire the bulk of these practices, in many cases at fire-sale prices, Singleton predicted. This enormous shift from private practice to employment, he added, "will have as much to do with the [physician] income levels we're going to see as the demand for the specialties themselves."
