What the Trump tariffs mean for independent practices

Stephen A. Dickens, JD, MAEd, FACMPE, vice president of medical practice services at SVMIC, weighs in on the potential ripple effects of tariffs on medical supplies, devices, and equipment — particularly for independent physician practices. He warns that the impact could be widespread and significant.

“Tariffs have the potential to have a very serious negative impact on all practices, not just independent practices,” Dickens says. While larger health systems may be better equipped to absorb cost increases, independent physicians will feel the effects more acutely. “Any penny that a physician spends is a penny that comes out of his or her practice.”

Dickens expects to see rising prices on medications, supplies, and equipment, especially when those items are sourced from overseas or not produced in high enough volumes domestically. “It probably will put a strain on local resources,” he says, comparing the situation to the early days of the COVID-19 pandemic, when demand outpaced production for essential items like hand sanitizer and sanitizing wipes.

Even if U.S. manufacturers ramp up to meet demand, Dickens questions whether they can “produce it and provide it here domestically, at a comparable price.” Beyond financial strain, he warns the consequences could extend to patient care. Physicians might begin making cost-benefit decisions that limit what services they can offer. “It is a chain reaction,” he says.