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As health care providers, the COVID-19 crisis directly impacts the safety of you, your patients, and employees. It can be very hard to assess what the "downstream effect" will be on certain 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.
The New COVID-19 Stimulus Bill: What It Means for Your Business
On Dec. 27, 2020, a new $900 billion COVID-19 stimulus package was signed into law by President Trump. While the new package is not as generous as the March CARES Act, there are several key elements of the new law that will most likely benefit your business.
BSM Founder and CEO Bruce Maller explores those provisions, including the "second draw" Paycheck Protection Program (PPP) as well as the availability of employee retention tax credits in this hour-long webinar. Download PDF.
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.
Compliance Considerations for the CUrrent Pandemic
- This document is designed to provide 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.
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, contact us. We are here to help.
Managing Relations With Landlords, Lenders & Vendors
- This quick guide outlines strategy and considerations to effectively communicate with your landlords, lenders, and vendors in a time of crisis.
- 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 without having to come into the clinic.
Telemedicine FlowCHart & FAQs
- This flowchart and FAQs provide guidance and understanding around the coding associated with the delivery of telemedicine services. Final code selection should be based on each unique patient's 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. Other third-party payers may have different coverage guidance for telemedicine services and should be researched accordingly.