GLOBAL HEALTHCARE SERVICES

NEWMARK

What is the Outlook for Independent Medical Practices in 2021 and beyond? The Truth is in the Details!

Commentary by: Todd Perman, CCIM, Vice Chairman, Global Healthcare Services


Software company Kareo recently surveyed over 1,300 independent medical practices to gauge its outlook on the challenges and successes in the post-pandemic environment. The findings were interesting. The attitude of the surveyed practices is positive, with 75% of those surveyed reporting growth ahead; notably, only 59% predicted they’d grow in 2019. Additionally, over 50% of independent practices saw similar or even higher patient volumes in 2020 compared to 2019.


Many practices attribute this positive stance to the technology adopted across the industry. As discussed in our Spring 2021 newsletter, telehealth technologies are being rapidly implemented, and the independent medical practice sector is experiencing this boom firsthand. In Kareo’s 2019 report, 22% of practices reported using telehealth. The figure nearly doubled to 41% in March 2020, and by December 2020, a staggering 80% of practices reported offering telehealth services.


Independent providers are key to a sustainable healthcare environment. They have adjusted quickly to the challenges brought on by the pandemic and are ultimately seeing positive results. We’ll look for continued patient care and evolution in this space that facilitates and supports the delivery of care and access to the patients.


Read the full Kareo survey here.

All information contained in this publication is derived from sources that are deemed to be reliable. However, Newmark has not verified any such information, and the same constitutes the statements and representations only of the source thereof, and not of Newmark. Any recipient of this publication should independently verify such information and all other information that may be material to any decision that recipient may make in response to this publication, and should consult with professionals of the recipient's choice with regard to all aspects of that decision, including its legal, financial, and tax aspects and implications. Any recipient of this publication may not, without the prior written approval of Newmark, distribute, disseminate, publish, transmit, copy, broadcast, upload, download, or in any other way reproduce this publication or any of the information it contains. This document is intended for informational purposes only and none of the content is intended to advise or otherwise recommend a specific strategy. It is not to be relied upon in any way to predict market movement, investment in securities, transactions, investment strategies or any other matter.

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