The American College of Surgeons' (ACS) Practice Protection Committee continues to provide leadership. Thought you would be interested in the Economic Survival Strategies in the COVID World report released yesterday.
This document paints a stark financial reality for physicians.
Why release this report? Even though physicians and dentists have opened their doors to elective medical care, their patient volumes--and revenue--have not rebounded as robustly as hoped. A recent study shows that outpatients visits, while up from April, are still at about 60%.
Physicians are fortunate. Unlike many small business that will not survive the economic fallout from the COVID-19 pandemic, patients will continue to have the need for healthcare services.
There is no question that elective medical/surgical cases will resume; the big question is WHEN.
The Practice Protection Committee recommends survival strategies NOW that include:
1. Remaining calm.
2. Reassessing priorities.
3. Seeking the advice of professionals--like YOU!
Here are three action steps you can take:
1. Distribute the ACS report to your list of doctor prospects and clients. Identify yourself as a physician-friendly financial advisor committed to serving the doctors who serve the community.
2. Join a watch party to access the webinar update from the American College of Surgeons' Practice Protection Committee Wednesday, June 3rd at 7 PM Central. Click here to register to join a watch party. Space is limited, so register now.
3. Get listed as a physician-friendly financial advisor. I am a Fellow fo the American College of Surgeons. I will be approaching the Practice Protection Committee and informing them that I have groomed a community of financial services professionals committed to serving the needs of physicians. If you have been through the Cracking the Physician Code training and /or you have been my private coaching client, you are eligible to be included in my directory of physician-friendly financial advisors. If you are interested in being listed, please drop us an email at email@example.com.
If you are new to the community, I invite you to enroll in the Cracking the Physician Code Master Class Training so that you, too, can be eligible to be included in the directory. This Master Class is available as a home-study course; however, based on multiple requests, I will be offering a second LIVE session beginning Monday, June 8th, 2020.
We WILL get through this together.
© 2020. Vicki Rackner MD. All rights reserved. You may reproduce this blog post with the following by-line:
Vicki Rackner MD is an author, speaker and consultant who offers a bridge between the world of medicine and the world of business. She helps financial advisors acquire physician clients, and she helps physicians run more successful practices. Contact her at (425) 451-3777.