Physicians examine options in a post-COVID-19 era

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Jenny Cordina Rupal Malani Laura Medford-Davis Nithya Vinjamoori
In McKinsey’s US COVID-19 Physician Survey, physicians indicated they are optimistic about a return to pre-COVID-19 volumes but may shift their preferred sites of care and seek additional partnerships for financial support.

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These materials are preliminary and non-exhaustive and are being made available on a non-exclusive basis solely for information purposes in response to the urgent need for measures to address the COVID-19 crisis. They reflect general insight and may present potential options for consideration based on currently available information, which is inherently uncertain and subject to change, but do not contain all of the information needed to determine a future course of action. The insights and concepts included in these materials have not been validated or independently verified. References to specific products or organizations are solely for illustration and do not constitute any endorsement or recommendation. These materials do not constitute, and should not be interpreted as, policy, accounting, legal, medical, tax or other regulated advice, or a recommendation on any specific course of action. These materials are not a guarantee of results and cannot be relied upon. Future results may differ materially from any statements of expectation, forecasts or projections. Particularly in light of rapidly evolving conditions, these materials are provided “as is” without any representation or warranty, and all liability is expressly disclaimed for any loss or damage of any kind. The recipient is solely responsible for all of its decisions, use of these materials, and compliance with applicable laws, rules and regulations. Consider seeking advice of legal and other relevant certified/licensed experts prior to taking any specific steps.

The COVID-19 pandemic continues to be on the forefront of physicians’ minds as a humanitarian crisis. As these healthcare providers seek to deliver safe care to patients, they also are examining how to maintain their practices’ financial stability. In McKinsey’s Physician Survey, conducted in May 2020, physicians said they were now more likely to refer procedures and surgeries, physician visits, and diagnostic testing to non-hospital locations and to shift in-person visits to telehealth. Roughly a fourth of independent physicians say they are now more likely to pursue alignment with a larger organization, preferably another independent physician practice, to obtain financial and operational support. COVID-19 has also increased physicians’ feelings of burnout.

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