Can you afford to keep practising? Family medicine finances transformed by COVID-19 in Alberta.

Abstract

To estimate the impact of the coronavirus disease 2019 (COVID-19) pandemic on FP finances in Alberta. A financial model that included fees, visits per day, number of days of practice, and overhead costs. Alberta before, during, and after the COVID-19 pandemic. Hypothetical fee-for-service FP practices. 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). Annual average FP billings and annual average FP income after overhead expenses. Practice changes related to COVID-19 could result in a reduction in average FP income (billings after expenses) of 27% to 78%. 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.