Special Report of the RSNA COVID-19 Task Force: The Short- and Long-term Financial Impact of the COVID-19 Pandemic on Private Radiology Practices.

Radiology
Richard E SharpeRSNA COVID-19 Task Force Members

Abstract

The coronavirus disease 2019 (COVID-19) pandemic resulted in widespread disruption to the global economy, including demand for imaging services. The resulting reduction in demand for imaging services had an abrupt and substantial impact on private radiology practices, which are heavily dependent on examination volumes for practice revenues. The goal of this report is to describe the specific experiences of radiologists working in various types of private radiology practices during the initial peak of the COVID-19 pandemic. Herein, the authors describe factors determining the impact of the pandemic on private practices, the challenges these practices faced, the cost levers leaders adjusted, and the government subsidies sought. In addition, the authors describe adjustments practices are making to their mid- and long-term strategic plans to pivot for long-term success while managing the COVID-19 pandemic. Private practices have crafted tiered strategies to respond to the impact of the pandemic by pulling various cost levers to adjust service availability, staffing, compensation, benefits, time off, and expense reductions. In addition, they have sought additional revenues, within the boundaries of their practice, to mitigate ongoin...Continue Reading

References

Apr 30, 2008·Journal of the American College of Radiology : JACR·Howard B Fleishon
Aug 30, 2008·Journal of the American College of Radiology : JACR·James W Moser
Aug 21, 2019·Journal of the American College of Radiology : JACR·Howard B FleishonEzequiel Silva
Feb 19, 2020·Journal of the American College of Radiology : JACR·Claire E BenderJay R Parikh
May 19, 2020·Journal of Cardiac Surgery·Saqib Masroor

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Citations

Jul 22, 2021·Journal of Medical Imaging and Radiation Oncology·Subhashaan SreedharanAlexander Rhodes
Aug 24, 2021·Clinical Imaging·Jason J NaidichPina C Sanelli
Oct 15, 2021·RöFo : Fortschritte auf dem Gebiete der Röntgenstrahlen und der Nuklearmedizin·Simon BernatzUNKNOWN RACOON Consortium

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