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With hospital revenue down due to reduced non-Covid-19 care and canceled elective procedures, US healthcare providers predict their paychecks will shrink. According to Bain & Company’s latest survey, 40% of providers expect their compensation for the next three months (May to July) will be lower than it was in the same period last year. Pay cuts are expected for all specialties and locations. Frontline providers and primary care physicians expect to take a hit due to reduced time seeing patients, while 40% of specialists cite canceled elective procedures as the cause.
Coronavirus
The global Covid-19 pandemic has extracted a terrible human toll and spurred sweeping changes in the world economy. Across industries, executives have begun reassessing their strategies and repositioning their companies to thrive now and in the world beyond coronavirus.