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COVID-19 RESPONSE: Recent developments are impacting our valued clients. Read these helpful resources for navigating this crisis in your business.

COVID-19 RESOURCES

As health care providers, the COVID-19 crisis directly impacts the safety of you, your patients, and employees. It can also be very hard to assess what the “downstream effect” will be on different aspects of the economy as well as your business.

At BSM, we are committed to helping you navigate these trying times in your practice. Our team of dedicated consultants and support staff can provide you with the strategic guidance you need to understand what’s happening and, more importantly, what to focus on moving forward.

We've included a list of helpful resources below to help guide you through this time.

PPP UPDATE: New Expense Tracker

The Paycheck Protection Program Flexibility Act of 2020 became public law on Friday, June 5. The new law amends the CARES Act as it relates to the loan forgiveness provisions under the Paycheck Protection Program (PPP). We are very pleased with the provisions within this Act, as borrowers may more easily achieve full loan forgiveness. In light of these new provisions, we have created an updated PPP Expense Tracker. 

Educational Webinars

FREE On-Demand Webinar

Business Survival Through The COVID-19 Crisis

  • Summary: With the spread of COVID-19 and shelter-in-place orders in effect, we have entered uncharted territory. It feels impossible for any of us to accurately predict the depth and breadth of the challenges that lay ahead. This upcoming webinar provides tangible actions practice leaders can take now to ensure near-term business survival while creating a more stable foundation for the future.
  • Please Note: Due to some conflicting information at the time of this webinar, it was stated that the maximum loan amount under the CARES Act was 5 times average monthly payroll expense, which should have been 2.5 times. This change has been made on the accompanying slides.

On-Demand Webinar Series

Positioning Your Business for the Recovery: NOW!

  • Summary: This new four-part webinar series focuses on how to help you navigate your own business recovery. BSM Consulting Founder and CEO, Bruce Maller, as well as several respected industry experts, explore key topics for a successful recovery including leadership development, business planning, managing operations, and, the glue that holds everything together, your team.

  • Pricing*: 

    • $199 per practice for the entire series

    • $79 per individual webinar

*If you are an existing BSM Consulting client, you will receive a member discount. Contact customer support at (866) 220-3184 to learn more.

Navigating Your Business Through COVID-19

  • Summary: This on-demand webinar series takes a deeper dive into key things your practice should be considering now as a response to the COVID-19 pandemic. BSM Consulting Founder and CEO, Bruce Maller, as well as several respected industry experts, take a look at practical actions and key elements of new legislative initiatives that will keep your practice on a path to come out on the other side of this crisis. Click here to learn more about this series.
  • Pricing: 
    • $199 per practice for the entire series
    • $79 per individual webinar

Helpful Tools, Resources, and Templates

The following tools, resources, and templates have been developed by BSM Consulting to help you navigate your health care practice through the COVID-19 crisis.

CARES Act and FFCRA

CARES Act Paycheck Protection Program (PPP) Maximum Loan Amount Calculator

This tool is to help practices estimate the maximum loan amount available to them under the new CARES Act Paycheck Protection Program (PPP).

CARES Act PPP Expense Tracker - UPDATED

The purpose of this tool is to track your weekly expenses and count of full-time equivalent employees during the 24-week covered payroll period. No matter your pay frequency, you may take advantage of this tool.

CARES Act Summary Sheet

This summary sheet outlines SBA loan eligibility, requirements, terms, and forgiveness under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Considerations in Managing PPP Loan Proceeds

Within the next four to six weeks, the Small Business Administration (SBA) is expected to issue guidelines on administration of the loan forgiveness aspect of Paycheck Protection Program (PPP) loans. Be sure to review these carefully with your advisors to optimize the loan forgiveness opportunity.

Families First Coronavirus Response Act (FFCRA) Summary Sheet

This summary sheet contains key information related to the FFCRA, which went into effect April 1, 2020 and requires certain employers to provide employees with paid sick leave and/or expanded family and medical leave in response to COVID-19.

Compliance

Compliance Considerations for the Current Pandemic

This document is designed to provide some timely considerations that may help practices re-prioritize and communicate appropriately while continuing to adhere to all relevant compliance guidelines and requirements.

Emergency Action Plan 

The Emergency Action Plan assists you in customizing your own action plan. It is provided with the caveat that this is simply a template and your action plan may be more—or less—specific than the one provided here. 

Financial Management

Cash Flow Forecast Tool

Use this financial decision-making tool to help guide you in the days, weeks, and months ahead. If you have any questions or need assistance completing the analysis, please contact the BSM Customer Support team at 866-220-3184.

Managing Relations with Landlords, Lenders, and Vendors

This quick guide outlines general strategy and considerations to effectively communicate with your landlords, lenders, and vendors in a time of crisis. 

Human Resources

Employee Furloughs and Layoffs Fact Sheet

BSM has developed this resource with assistance from Amanda J. Shuman, Esq. of DangerLaw, LLC, to provide our clients some basic information and considerations regarding employee furloughs and layoffs.

Employee Termination Checklist

This checklist outlines the actions required to terminate an employee properly.

Ophthalmology Practice Volume-Based Staffing Model

This tool is designed to help practices assess current staffing levels based on patient volume (historic or projected). In addition, as volume increases and new services, new locations, or new providers are added, this tool can be used to forecast staffing needs.

Unemployment Insurance FAQs

During these unprecedented times, many practice owners and leaders are having to make difficult employee decisions, including furloughs and layoffs. As a result, they are needing to field important and urgent questions from impacted employees about potential eligibility for unemployment support.

Operations

Temporary Emergency Office Closure Checklist 

The Temporary Emergency Office Closure Checklists ensure you have covered your bases when your practices are required to close temporarily.

Telemedicine Resources

Implementing Telehealth

Faced with the ongoing challenges from the COVID-19 pandemic, many health care practices are actively seeking ways to stay connected with their patients and provide them with continued access to care at a time when most in-person patient contact is restricted to emergency cases.

Telemedicine Flow Chart & FAQs

As eye care practices are adapting and implementing telemedicine services, we have created a flowchart and FAQs to provide guidance and understanding around the coding associated with the delivery of telemedicine services. Since publishing our March 26, 2020 Telemedicine Flow Chart and FAQ there have been numerous updates and changes to the published regulations and standards for delivering telemedicine services. Some of the changes were significant. To make those changes easy to identify, we have highlighted those changes on the updated May 7, 2020 Flow Chart and FAQ copy, provided here for download.  The documents now incorporate the many services allowed by Medicare and most commercial payers. 

While the flowchart attempts to provide education regarding possible telehealth coding scenarios, it should not be used as the sole determining factor for code selection. Final code selection should be based on each patient’s unique scenario and is at the discretion of the provider.”

Telemedicine Code Matrix

The matrix lists the Medicare-approved CPT codes that may be submitted on claims for telemedicine services. The mode used for the service delivery (column 1) such as “telephone call” or “Face-to-Face Video” is important when deciding the proper coding sequence. The allowable rates in the matrix represent the national Medicare allowable and therefore geographic adjustments will apply to individual localities. Other third-party payers may have different coverage guidance for telemedicine services and should be researched accordingly.

Helpful Links

These external links contain pertinent information from trusted resources and industry partners.

White House

Guidelines for Opening Up America Again

CARES Act Information

Final CARES Act Bill

Health and Human Services: CARES Act Provider Relief Fund

Health and Human Services: Relief Fund Payment Terms and Conditions

Paycheck Protection Program: Fact Sheet

Paycheck Protection Program: Interim Final Rule

Paycheck Protection Program: Frequently Asked Questions

Paycheck Protection Program: How to Calculate Maximum Loan Amounts - By Business Type

Paycheck Protection Program: Loan Forgiveness Application Form

Paycheck Protection Program: Loan Flexibility Amendment (H.R. 7010)

Small Business Administration: Paycheck Protection Program Application Form

Small Business Administration: Press Release regarding Loan Forgiveness Application

U.S. Chamber of CommerceSmall Business Association (SBA) Loan Program

U.S. Senate Committee on Small Business & Entrepreneurship: Paycheck Protection Program FAQs for Small Businesses

Centers for Medicare & Medicaid Services

CMS Fact Sheet: Expansion of the Accelerated and Advance Payments Program for Providers and Suppliers During COVID-19 Emergency

Ambulatory Surgical Centers Eligible for Accelerated/Advance Payments During COVID-19 Emergency

ASCRS News: Medicare's COVID-19 Advanced Payment Program FAQs

Department of Labor

Families First Coronavirus Response Act: Questions and Answers

Occupational Safety and Health Administration: Guidance on Preparing Workplaces for COVID-19

Human Resources

SHRM: Employers Can Make 'Disaster Payments' to Coronavirus-Affected Employees

Legal Information

Arnold & Porter

McDermott Will & Emery Daily Update

Online Marketing 

Etna Interactive 

Wpromote: COVID-19 Digital Marketing Resources

Industry Partners

American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS)

American Academy of Ophthalmology

American Society of Ophthalmic Administrators

Ambulatory Surgery Centers Association

American Medical Association

American College of Surgeons

American Hospital Association

Eye Wire News - COVID-19: When the Practice Closes (video)

Bruce Maller and other experts shed light on key areas of concern for practice leaders, including how to best support staff members during this time and what actions to take to ensure long-term business survival.

John G. Miller - Author of QBQ!: Accountability and Productivity In These Trying Times