Estimate How Much Financial Assistance Your Practice Might Need
By David Doolittle

Credentialing_update

If you’re like most practice owners, you are likely becoming (or already are) concerned about your practice’s finances as a result of the COVID-19 pandemic. 

However, before you take any steps to acquire financial assistance, it’s a good idea to know how much you might need.  

The Texas Medical Association has developed a Net Cash Flow Calculator to help you estimate that number. Whether you intend to dip into reserve funds or secure a grant or loan, getting an idea of the big picture will help you hone in on your overall needs to make payroll, pay rent, and plan for operating expenses. 

In addition, TMA has created a Practice Viability Toolkit that provides the most up-to-date information and resources to help you make informed decisions for your practice.

The toolkit covers important topics such as: telemedicine, cash flow, payers, coding and documentation, human resources, and state and federal guidelines, rules, regulations, and flexibilities related to COVID-19. 

You can find the toolkit, calculator, and other resources and information on the practice viability section of the TMA COVID-19 Resource Center.

 

Last Updated On

April 08, 2020

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David Doolittle

Editor

(512) 370-1385

Dave Doolittle is editor of Texas Medicine and Texas Medicine Today. Dave grew up in Austin, where he attended culinary school as well as the University of Texas. He spent years covering Central Texas for the Austin American-Statesman newspaper. He is the father of two girls, a proud Longhorn, and an avid motorsports fan.

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