Steps to Financial Recovery from COVID-19

Apply for Financial Assistance Now

LOANS & REVENUE PROTECTION

Financial assistance is available while funds are available. Options include lines ofcredit, bridge loans, U.S. Small Business Administration (SBA) loans, & disaster loan

assistance. 

Evaluate Personnel

STAFFING OPPORTUNITIES & CROSS TRAINING

Many health care employees are laying off staff, meaning there are more high-qualityhealth care professionals on the market than usual. Use this as an opportunity to

hire, as needed. Additionally, consider cross-training current staff members to assistin areas that are busier than usual (i.e. front desk operations).

Improve Cash Flow

BENCHMARK & NEGOTIATE DEFERRED PAYMENTS, TERMS & LATE FEES

Review your practice's current financial health & compare with historical data.Identify trends or fluctuations in cash flow to project the practice's future financial

status. Consider extending rent/mortgage payments & infusion drug payments;cancel auto shipments for supplies; & defer utility payments.

Increase Social Media Marketing

COMMUNICATE WITH YOUR COMMUNITY

Engage with patients on social media to generate word-of-mouth referrals, improvecommunication, & provide better care by ensuring that patients continuously engage

with the practice.

Leverage Electronic Practice Management Tools

TRACK MAJOR LINES OF PRACTICE ACTIVITY

Utilize EPM tools to track delays & cancellations for office-administered treatments,to include infusions; laboratory services; other ancillary services (i.e. radiology

services); routine & new patient visits.

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