April 23rd the House of Representatives approved additional coronavirus relief funding for the Small Business Administration’s (SBA) forgivable loans under the Paycheck Protection Program (PPP). President Trump will be holding a signing ceremony Friday, April 24th. We outlined in a prior post the steps for applying for the PPP if your practice has not already.
The initial $349 billion of coronavirus relief funds was depleted in 13 days. A total of $484 in additional CARES Act funding was approved in this latest round of stimulus funding. The additional funding includes $321 billion allocated for the PPP, $60 billion for Economic Injury Disaster Loans (EIDL), $75 billion for Hospitals, and $25 billion for COVID-19 Testing.
For more information regarding the CARES Act, EIDL, and other COVID-19 information relevant to physician practices, please see this post.
abeo Management Corporation (abeo) serves as a leading source of revenue cycle management and practice management with a specialization in anesthesia. The company leverages its people, processes, and software to serve independent practices, surgery centers, hospitals and healthcare systems with a scope of services that include billing, coding, transcription, practice management, and business consulting.