According to a recent survey by the MGMA, physician practice revenue, was, on average, cut in half since the beginning of the COVID-19 crisis.
Thankfully, there are Four Programs for Short-Term Financial Assistance for physicians:
- US Small Business Administration’s (SBA) Paycheck Protection Program (link)
- SBA’s Emergency Economic Injury Disaster Loan (EIDL) (link)
- Medicare’s advanced payment program (link)
- SBA Coronavirus Economic Stabilization Act (CESA) loan (link)
Long-Term Financial Stability
While the aforementioned programs intend to keep your practice running in the short-term, you will also need to prepare for your practice’s long-term financial stability.
Cisne Health’s partner practices can depend on predictable recurring revenue – even amidst the COVID-19 crisis – despite lower encounter volume.
Schedule a call to learn more about how Cisne Health can help you, too.