The Study of Financial Impact of COVID-19 on Ophthalmic Practices

Abstract

The unprecedented threat of Covid-19 has forced transition from the normal way of life. The new norm now includes social distancing, the use of face masks, and reduced contact to only necessary cases. In ophthalmology, practice procedures are currently only limited to emergency procedures such as trauma and endophthalmitis. The state of affairs, as described in this review, is greatly reduced the number of patients seeking ophthalmology services. There are fewer patients making visits as a result of extreme caution on both their parts and the medics. Expectedly, many private practitioners are feeling the financial pinch, with as many as 90% of private practices seeking federal loans, among other initiatives to cushion their practices. Despite these efforts, the outlook is grim, with an estimated 6% of private practices expected to close, while those that pull through are predicted to be smaller in size and poor financial positions.