Physician practice bankruptcy

[AZpath]

Doctors apply for SBA coronavirus funding in struggle to keep practices afloat during the pandemic

Dr. Laura Heisler is hoping a new round of funding for the Payroll Protection Program will provide a lifeline to keep her practice afloat.

www.cnbc.com

I am hearing of this in my community already ( Not pathology).

Pathologists in private practice hospital groups my have an advantage since they have no employees.

Although a lot depends on how fast the specimens come back.

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[bronx43]

Didn't most private offices get a HHS stimulus?

 

[AZpath]

A drop in the bucket unless you have very high% of MC

 

[WEBB PINKERTON]

The specimens ain't coming back real fast. All industries are going to be doing a fraction of what they were doing. This is going to be a multiyear comeback for sure. Humans are smart and we will adapt to this new reality but it is going to be rough for sure.

Go rural my friends.

 

[KeratinPearls]

The specimens ain't coming back real fast. All industries are going to be doing a fraction of what they were doing. This is going to be a multiyear comeback for sure. Humans are smart and we will adapt to this new reality but it is going to be rough for sure.

Go rural my friends.

Go rural.

Start your own businesses.

Buy rental properties.

Buy farmland.

Make millions a year.

Did I miss anything?

 

[Alteran]

Didn't most private offices get a HHS stimulus?

HHS was willing to forward a month's worth of payment based on the previous 3 months' average of what your practice had billed to medicare. I haven't heard of anyone getting the money though as yet. And, as stated above, most practices are 25-50% medicare. So that only covers a portion of your practice expenses.

 

[deleted941485]

HHS was willing to forward a month's worth of payment based on the previous 3 months' average of what your practice had billed to medicare. I haven't heard of anyone getting the money though as yet. And, as stated above, most practices are 25-50% medicare. So that only covers a portion of your practice expenses.

CMS Suspends Advance Payment Program to Clinicians for COVID-19

CMS also said it is re-evaluating how much it will pay for pending accelerated-payment applications, with $175 billion in other funding becoming available for the medical community.

www.medscape.com

 

[chooks]

My practice received CARES act funds yesterday.

 

[LADoc00]

Lots of groups going under. Im grabbing some practices up now as we speak. Waiting until the big groups in CA melt and they will.

Cycle of wealth destruction:
Lockdowns initiated mid March--> short of period of letting folks out mid to late May--> blossoming of infections--> idiot politicians panic--> rinse repeat lockdowns....BUT regardless patients are staying well away from ALL healthcare.

Volumes will simply be unsustainable for groups who operate expensive TC operations and employ Cytotechs. You have to be nimble, cut cut cut, dump unprofitable service to Quest, stick and move.

Prepare for negative oil healthcare style!

Meanwhile once I get my CARES II dollah dollah bills, I should be at 90-100% revenue YOY for April-May. Gotta diversify kids: solid medical directorship fees, retainer fees, medicolegal, biotech consulting etc.

Do not leave passive income on the table for speculative dollars on reading glass, ever.

 

[WEBB PINKERTON]

Is it just me or are the makers of Cologuard running a lot of commercials at the moment? I expect Cologuard to flourish during this.

 

[ccous]

Is it just me or are the makers of Cologuard running a lot of commercials at the moment? I expect Cologuard to flourish during this.

Well, if a Cologuard test is positive, a colonoscopy is required for definitive diagnosis. So maybe it’ll get people to come back.

 

[LADoc00]

Is it just me or are the makers of Cologuard running a lot of commercials at the moment? I expect Cologuard to flourish during this.

I love it, new slogan "In the post-apocalyptic 'Demolition Man' future where all fast food is now Taco Bell, take a dump in this bucket, add our secret sauce and send it us! Healthcare done right, Cologuard!"

 

[WEBB PINKERTON]

Let's see...take a dump in a box or risk going to medical facility. No brainer.

 

[univlad]

I thought I had seen news the ExactSciences who makes Cologuard laid off a lot of people recently--likely if offices are closed they are getting fewer referrals.