SBA Disaster Loans for Independent MD/DO's

[Doctodd]

From my group legal team/CEO. Politics as usual. Similar to “We need to pass it to know what’s in it.“

Good Morning and happy weekend everyone.

Quick note on the HHS money that was deposited in our account. First, I am confident we will be able to push this money down to everyone very soon. We are just waiting on HHS to update the terms and conditions of this money. We are getting clarification from individuals at CMS, HHS, AAOS, and more.

The holdup is due to the language that was behind a link buried in the page on HHS. The terms and conditions are not at all what any of us thought they were going to be, and truly look like they were a draft amalgamation of pet project wants by Senators, that were not reviewed before launching. If you want to read them, get a cup of coffee and get ready to try and bend yourself into a pretzel and then scratch your head….. I have attached them to this email. These are the terms we are all attesting to when we use this money. Your next question is “How can they put money in my bank and then saddle me with, frankly some, crazy terms?” I completely agree as does most leaders in the medical community, as one significant association leader put it . “This is loan sharking! They put money in our hands, then told us how we could spend it or they will punish us.” Again, this was never requested, the rules of the game were not laid out, and the attestation to the terms and conditions will not even be available for 30 days. This is why we are waiting even just a couple days till written clarification is made.

The great news is, the uproar is significant and we are hearing that the terms and conditions will be clearly defined and corrected shortly. The spirit of the program was to help medical practices who have been negatively impacted by the COVID-19 pandemic, including loss of revenue due to reduced revenue from isolation orders, prohibition on elective surgeries, down turn in patients seeking treatments, etc… Again we fully expect to push this money very soon.

I will send each of you an individual email with the amount you should expect.

I know it must stink, that your “friends got their money and you don’t have yours yet”. Being such a large group, there will be more focus on how we spend this money. So, what I am really waiting on is a book of line item expenditures that are approved, that you will be able to point to when asked for reporting, etc… A couple days now will save us all frustration and scrambling later. I hope you understand.

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[deleted993114]

Today's the day to get them in.

Coronavirus: Bay Area medical practices face uncertain future as patients disappear

While it may seem counterintuitive during a medical crisis, many people who work in...

www.sfchronicle.com

Well...……………. they cant very well allow all private practice physicians in the US to go belly up. It would create an additional healthcare crisis to go with the coronavirus crisis.

One way or another, there will be a solution, as the bankruptcies of physician practices would be a greater catastrophe than the pandemic itself.

 

[Ligament]

Well...……………. they cant very well allow all private practice physicians in the US to go belly up. It would create an additional healthcare crisis to go with the coronavirus crisis.

One way or another, there will be a solution, as the bankruptcies of physician practices would be a greater catastrophe than the pandemic itself.

I wish the bureaucrats agreed with you, but unfortunately the powers that be in Washington, the Insurance companies, and especially the hospitals would love nothing more than to see private practice extinguished entirely. They cannot control us as well as hospital employed physicians, and that is a threat to the power and wealth of non physicians. Pretty simple.

 

[blockstar]

I got the PPP loan. Denied twice from Chase...small bank got it on first try immediately. Chase also basically wouldnt take phone calls and had appoints for two weeks later for phone calls. Time to switch banks.