COVID 19 or the Coronavirus is wrecking havoc on Podiatry practices all over the country. We have no idea how bad the fall out will be for Podiatrists at the end of this. What we do know is this will have a massive impact. Below I have written what I believe are the ten reasons that Podiatrists will go bankrupt due to COVID.

1. Podiatrists are unable to do any elective surgery. Essentially, Podiatrists cannot do Bunion Surgery, hammer toes, neuromas, flatfoot reconstructions. None of these surgeries are being performed. How long will this go on? 3 months to a year depending on locations in the country. Also, Podiatrists returning to elective surgery is going to lag most every other speciality. The fact is Orthopedic surgeons are going to get to do their Total Knees before Podiatrists get to do their Bunion surgeries.

2. Most Podiatrists under 50 have little savings. Podiatrists graduate from Podiatry school with over 200k of debt. After a three year residency they will get to start practice mostly at age 30. That means they have to pay off 200k in debt before they can actually start savings. Oh and along the way a lot of Podiatrists are going to want to do things like start a family and buy a house. You think most Podiatrists are paying off that debt by 50 or so to where they can have savings? I highly doubt it.

3. Podiatrists are being laid off by medical and orthopedic groups as well as hospitals. Guess what, those bean counters at the hospital are losing money. You know the first people to be laid off and fired are,thats right, Podiatrists. The fact is these Podiatrists thought they were untouchable, you think they were saving????

4. Podiatrists cannot see patients at a rate that can be profitable. Even if Podiatrists are seeing patients (and they probably should not be), seeing one patients every thirty minutes is not going to pay the bills, and that might even be aggressive. You have practices that were seeing four every 30 minutes are now only seeing one.

5. Recession- See here is the thing. When there is 30% Unemployment it’s hard to sell $700 orthotics, $50 BioFreeze. All the little tricks and practice boosters are going the way of the dodo bird and all you are left with is CBD.

6. Accounts Receivable are now worthless- Yea all that money people owe you; good luck collecting. People cannot pay their mortgage, student loans or rent. Good Luck getting them to pay the 20 dollars they owe the Podiatrist from January.

7. Nursing Homes- You think Nursing Homes and Assisted Livings are going to allow Podiatrists to go room to room seeing patients anytime in the next six months? I have bad news for you. And many Podiatrists depend on Nursing Home patients to pay the bills.

8. Insurance Companies- Who do you think Blue Cross is going to kick off their insurance in order to financially survive? Podiatrists or Orthopedists? Podiatrists are about to find their years of being equal are about to disappear. Guess what, these Insurance companies are fighting for survival during COVID. You know who they can throw overboard with little push back? Thats right, Podiatrists.

9. Referrals are done for the near future. The fact is Doctors are not going to be referring people to Podiatrists for warts and Plantar Fasciitis right now because they are not seeing patients either. There has been a 70% decrease in patients seen by internists and family practice physicians during COVID. That is going to kill referrals.

10. People are not going to prioritize Podiatric care for another year and half. No matter how hard Podiatrists try people know they won’t die from a bunion. They do know they can die from the Coronavirus. That is going to be a serious problem Podiatrist need to figure out. People just are going to prioritize different things and foot and ankle care is not going to be it.