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>> How Covid-19 Has Affected Hospital Finances For Physicians
Today, we live in a world that is totally different from what we knew it to be a year ago. Due to the COVID-19 pandemic, every aspect of life has been affected.
As you can figure, the aspect of life that has been affected the most is our health. Because of such, the industry has suffered significantly in the healthcare sector. Unfortunately, an increase in patients is not the only thing that has caused the health industry to suffer. Certain health practitioners, such as physicians, have also struggled to keep their jobs during the ongoing pandemic.
Changes in Hospital Finances For Physicians
Since the pandemic began, there has been a reduction in the number of patients for physicians to treat. Although this might seem counterintuitive, there are just some areas where health clinics or hospitals have had a considerable reduction in patients. This is because strict observance of the social distancing rule has been implemented to prevent the virus from spreading further.
Small hospitals or family business clinics are the first to struggle in these areas with low cases. In fact, the damage to some physicians have been so severe that many have decided to retire early, have been laid off or furlough, or worse, have decided to shut down their family or personal practice. Without any clear knowledge of the pandemic ending anytime soon, people are still too afraid to physically visit their local health centers. Furthermore, many people are too afraid to have a health checkup due to the fear that they may be positive.
As for the hospitals and clinics with high cases, their struggle is on a different level. With such a high surge of patients, especially infected patients, the funding cannot properly and quickly keep up. Even other businesses and organizations have been financially affected, so there isn’t much that they could do to help hospitals raise their budget.
The AHA, which is short for the American Hospital Association, mentioned that the health system had lost over 200 billion dollars from March 2020 to June 2020. And, if the pandemic continues to stay, then the loss would at least reach a total of over 300 billion dollars by the end of the year. Although there are still hospitals, clinics, and other healthcare facilities functioning, the workers’ needs or resources required to cater to the high surge of patients are still not being fully met.
Fortunately, not all physicians are affected negatively
Just like what Isaac Newton famously said in his third law of motion, “For every action, there is an equal and opposite reaction.” So, not all physicians have been affected negatively. Many physicians where they or other healthcare workers are in great need are flourishing due to a large number of Physician Jobs that are available. Some hospitals are even inviting more physicians to join their ranks to better address high patient intakes.
The struggle for these lucky people is more towards the extra work that they have to put in. Some have to work overtime while others have to go through extra efforts to do more to compensate for the lack of resources available. Although these are lucky individuals that still have jobs, they are still going through different difficulties because of the effects of the ongoing pandemic and lack of financial support.
Solutions to the changes in hospital finances
Without a clear indication of when the end of the pandemic will be, the majority of healthcare sectors and hospitals are anticipating a long haul. The areas with low cases are not entirely letting go of their staff, but are instead allowing a certain degree of work from home. It is common for virtual appointments to be made nowadays and for basic assessments to be had online until a necessity to go to the office is determined.
This, of course, is a positive move to help health professionals such as physicians to maintain their job and for those who are unable to transfer to high a case area for work. Both the local and federal governments have also strived to contribute their share of funding public healthcare facilities to help them continue to perform surgeries, do laboratory testing, and other Covid-19 related practices to better address those who are infected.
What the future holds for hospitals and physicians
The effects of the pandemic have affected the health industry in many different ways, all having a negative impact on the practices and lives of health professionals. Despite these solutions, the loss of hospital finances and physician jobs sadly outweighs the good. Thousands of patients have already died from the infection, mostly due to the lack of knowledge concerning the disease. Some have lost their lives because they were unable to be attended to quickly enough and in some cases, for the lack of needed resources.
Depending on the hospital, even some of the lucky workers that have been working in their hospital for decades have suddenly had to be let go because there simply isn’t enough financial support to go around. For example, there is an issue with the suspension of elective cases. Physicians, especially, and certain staff members had to be picked over another to preserve and direct the budget to the areas that are functioning better.
As the virus continues to plague the world, the uncertainty of even healthcare jobs is leaving many to feel insecure about their careers. We can only hope that the reduced hours or reduced paycheck will be enough to not have to let go of more precious healthcare employees.
The Covid-19 coronavirus has affected millions of lives in the US alone. There has yet to be a cure for the virus, so the study is continuing. While physicians stand by for jobs to come and hospital staff maintains their harsh environment, there is no other alternative than to wait for miracles to happen and to conserve what budget is available.
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