EOCC: The Impact of COVID-19 on Medical Practices

How the East Orlando Chamber is helping

By DOROTHY HARDEE, Chamber Administrator

It comes as no surprise that COVID-19 has had a significant impact on most of the business across the board. In April, Alexandra Wilson Pecci reported that 97 percent of physician practices took a financial hit as a result of the pandemic. Patient volume reduced by 60 percent and revenues declined by an average of 55 percent. Decreased revenue caused many practices to furlough and lay off employees anticipating additional cuts to increase as the pandemic continues to thrive.

To rally their practice and reduce the spread, many offices dramatically changed how outpatient care was delivered implementing the use of telemedicine. This shift rose rapidly in mid-April according to a report by Commonwealth Fund. However, the peak leveled and even declined slightly in mid-May. Smaller private practices around the country reported some of the most significant losses causing some to resort to GoFundMe. In fact, results of a recent survey by Primary Care Collaborative and the Larry A. Green center, it is anticipated that the pandemic is going to accelerate the closer of the smaller practices with nearly 40% of revenues going to overhead.

Strangely enough with stay at home orders and many restrictions lifted, people have flocked to beaches, parks, boardwalks and flooded streets in protest; however still seem reluctant to make appointments for necessary physician visits. This is compounded by the increasing number of people without jobs and insurance. Now that I have bombarded you with this gloomy outlook, lets find the silver lining.

Peer to peer referrals and the relationships you develop among colleagues is essential. Our Healthcare Council Collaborative members have offered candid feedback on what a medical practice and physicians need NOW. Physician and Referral coordinators are seeking relationships with individuals from other medical practices as potential referral sources. During our last meeting, a virtual breakout forum not only offered the safety of your home or office while saving precious time, but also provided small group networking attendees sought.

On August 6^th, the East Orlando Chamber will host a Virtual Peer to Peer referral forum and breakout, inviting physicians and referral coordinators to attend at no cost. The goal is to help start the conversation among healthcare professionals supporting our independent groups throughout East Orange County and beyond. Curious? Then join us by registering to receive the login information.

If you could expand your book of business through solid referrals from other healthcare providers, wouldn’t it be worth it? What do you have to lose? Register today and let’s get the conversation started. Our goal is to help your practice grow through referrals, community outreach and provide new opportunities with increased revenue potential.

What else can we do for YOU? The East Orlando Chamber of Commerce (EOCC) understands and works diligently to further the interest of businesses providing valuable benefits, industry focused programs and networking and connections to encourage growth in and around East Orange County.

Identifying this critical need to support small business, the EOCC offers health benefits to its members including Telehealth for $14 per month per household. It is also offering Direct Primary Care, the newest addition to valuable chamber benefits. EOCC members can offer our health benefits package of Telehealth, Allstate Accident, Allstate Cancer (& 23 specified diseases plan) plus Wellcard to their employees. Our insurance representative with Avalon Insurance Services does all the administration of the plan(s) selected by you &/or your employees.

Are you an Independent physician seeking ways in which to increase exposure, revenue, and attract talent to grow with your practice? Joining the East Orlando Chamber, becoming actively involved in all it has to offer is the perfect way to start. We are promoting our members through our Ambassador Shout Outs, SB511 Member Deals & Steals and Member Shout Outs, creating video snippets letting members and community know member hours, specials and protocols for keeping guests and staff safe.

Need more? Give us a call at 407-277-5951 or visit our website at eocc.org. Your Business is Our Business at the East Orlando Chamber. Don’t forget to register for the EOCC’s Healthcare Council Collaborative Virtual Peer-to-Peer referral forum and breakout. The East Orlando Chamber has nearly 75 years of thinking differently for members.

East Orlando Chamber of Commerce Events

Healthcare Council Collaborative Virtual Peer-to-Peer Referral Forum & Breakout

Thursday, August 6,2020

8:00 – 9:00 AM