Carter L. Alleman, J.D.
Financial Support in CARES Act for Surgeons
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on Friday, provides some pathways for physicians to obtain financial assistance for their practices. We know many of you want to apply for this assistance if you are experiencing financial strains on your practice related to COVID-19.
First, the Centers for Medicare and Medicare Services (CMS) has recently expanded the Accelerated and Advanced Payment Program. Surgeons and others may request advanced Medicare payments to address cash flow issues based on historical payments. More information about this program can be found hereand here.
In addition, relief for small businesses, including those run by physicians, was included in the $2 trillion CARES Act legislation. The provisions include the appropriation of $562 million for Economic Injury Disaster Loans to ensure that the Small Business Administration (SBA) has adequate resources to assist businesses in need.
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support designed to help overcome the temporary loss of revenue. In response to the COVID-19 pandemic, small business owners in all fifty states, Washington, DC, and U.S. territories are eligible to apply.
The CARES Act clarified that eligibility would be for those businesses of 500 employees or less at each business location.
More information about the Economic Injury Disaster Loans and the appropriate applications on is available on the SBA website.
The ACOS continues to work with our surgical association partners to bring attention to the impact that COVID-19 has had to physician practices as we continue to engage with White House, Congress, the Department of Health and Human Services and CMS.