Practice Management During the COVID-19 Pandemic

Abstract

On March 14, 2020, the Surgeon General of the United States urged a widespread cessation of all elective surgery across the country. The suddenness of this mandate and the concomitant spread of the COVID-19 virus left many hospital systems, orthopaedic practices, and patients with notable anxiety and confusion as to the near, intermediate, and long-term future of our healthcare system. As with most businesses in the United States during this time, many orthopaedic practices have been emotionally and fiscally devastated because of this crisis. Furthermore, this pandemic is occurring at a time where small and midsized orthopaedic groups are already struggling to cover practice overhead and to maintain autonomy from larger health systems. It is anticipated that many groups will experience financial demise, leading to substantial global consolidation. Because the authors represent some of the larger musculoskeletal multispecialty groups in the country, we are uniquely positioned to provide a framework with recommendations to best weather the ensuing months. We think these recommendations will allow providers and their staff to return to an infrastructure that can adjust immediately to the pent-up healthcare demand that may occur after the COVID-19 pandemic. In this editorial, we address practice finances, staffing, telehealth, operational plans after the crisis, and ethical considerations.

Figure 1

Photograph of the Chief Executive Officer (Mike West) and President (Alexander Vaccaro) of the Rothman Institute debating various strategic options during the COVID-19 crisis.

Figure 2

Chart showing the four key strategies used by the Rothman Orthopaedics to promote asset conservation. CMS = Centers for Medicare & Medicaid Services

Figure 3

Photograph of telehealth in use during the COVID-19 crisis.