Looking at GI Practice Management Differently: Fortify the Business of Healthcare in the GI Practice | November 2021-Reinforcing the Structural Integrity in the GI Practice

Reinforcing the Structural Integrity in the GI Practice

Video Transcription

Video Summary

The video discusses the challenges faced by gastrointestinal (GI) practices in the United States. The first challenge discussed is the financial impact of the COVID-19 pandemic, with almost 97% of practices reporting a negative impact on their finances, including a decline in revenue and patient numbers. Other financial challenges, such as reimbursement changes and increased penalties for not meeting quality indicators, are also mentioned. The video also touches on the changing landscape of GI practices, with an increase in employed physicians and consolidation of practices. Workforce burnout is identified as a major issue, both before and during the pandemic, resulting in decreased performance and dissatisfaction. The video concludes by highlighting the need for new solutions to address these challenges and the importance of collective knowledge sharing.

Asset Subtitle

SufiyanH. Chaudhry, MD, MBA

Keywords

gastrointestinal practices

COVID-19 pandemic

financial impact

workforce burnout

collective knowledge sharing