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CARES Act and Private Equity

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  • #16
    Originally posted by CrockettsRiver View Post
    I would think “lost revenue that is attributable to coronavirus” 100% applies.

    But if your practice is owned by PE I don’t think you will see a dime. Those guys aren’t known for taking care of their physicians.
    It's not the "lost revenue" part that is disputable.

    It's the "Payment will only be used to prevent, prepare for, and respond to coronavirus...." language that worries me.

    It's kind of circular logic, but if our "response" is to delay cases that then causes lost revenue, is that enough?

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    • #17
      Originally posted by WCInovice View Post
      Here is one bullet point on the attestation that I'm worried about as it pertains to a lot of groups...
      • The Recipient certifies that the Payment will only be used to prevent, prepare for, and respond to coronavirus, and shall reimburse the Recipient only for health care related expenses or lost revenues that are attributable to coronavirus.

      I'm sure a lot can say yes we lost expenses attribuatble to coronavirus. But how would a general surgery, ortho, or oncology practice say they were using the money to "prevent, prepare for, and respond to coronavirus" if they're just putting cases on hold and have lost revenue? Extra PPE costs?

      i believe any practice that has reduced outpt visits, or elective surgeries, would be considered to have responded to the coronavirus. Physicians did not reduce volume because we wanted to but because we had to, after direction from the government. By doing so, we are participants in preventing and preparing for the virus.......cut down on pt visits/surgery, you help with the social distancing aspect.

      The money can also be used, or attributed to, purchase of PPE for employees, and IT changes/upgrades to account for tele visits.

      As as far as paying physicians, that "executive level II" (or something like that) is at an income level a bit below $200k (I cannot recall the exact number), so a lot of us will not qualify to use any of the money to pay ourselves

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