Uncovering the Secrets of 2020’s Top Performing Practices

Regardless of any other practice characteristic, the primary practice revenue model proved to have the most dramatic effect on how practices fared in 2020.

Membership-based practices (e.g. concierge and direct primary care) within the cohort had a 0% closure rate, and 24% reported higher revenues in 2020 than any prior year. 40% of membership practices reported that their revenue had not been impacted by the pandemic.

The practice adaptation that has gotten the most attention over the last year has been the shift to virtual visits using tools ranging from Zoom to a host of telehealth platform options. In the high-performing OvationLab sample, virtualization proved to be important – provided that it was not forced on patients.

The best performing practices reported performing a maximum of about 40% of their visits virtually during 2020. The majority of patients in root cause-focused practices maintained their preference for in-person visits.