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Can you afford to keep practising? Family medicine finances transformed by COVID-19 in Alberta
Philip Jacobs1, Neil R Bell2, Douglas Woudstra3
1Emeritus Professor in the Department of Medicine at the University of Alberta in Edmonton.
Objective:
To estimate the impact of the coronavirus disease 2019 (COVID-19) pandemic on FP finances in Alberta.
Design:
A financial model that included fees, visits per day, number of days of practice, and overhead costs.
Setting:
Alberta before, during, and after the COVID-19 pandemic.
Participants:
Hypothetical fee-for-service FP practices.
Interventions:
Changes in practice modes caused by the pandemic and changes to fees set by the Government of Alberta (no interventions were controlled by the researchers).
Main Outcome Measures:
Annual average FP billings and annual average FP income after overhead expenses.
Results:
Practice changes related to COVID-19 could result in a reduction in average FP income (billings after expenses) of 27% to 78%.
Conclusion:
Practice pattern changes, including the rapid adoption of telemedicine owing to the COVID-19 pandemic, will reduce incomes for fee-for-service community FP practices in Alberta. Fees at current levels could make some practices unsustainable.
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