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 Subject : Stimulus Package (CARES) and Ambulatory Anesthesia.. 03/30/2020 11:31:58 AM 
Dr. Basem Abdelmalak, MD, FASA, SAMBA-F
Posts: 28
Location: Cleveland, OH
Dear Colleagues,
In addition to the physical, social, emotional and psychological impact of the COVID-19 virus, financial consequences are impacting many of our members specially those who own ASCs,small group practices and/or self employed.The recently passed legislation (CARES) or commonly known as the stimulus package has some items that might be helpful to mitigate some of these issue.
Please share what you know, or found out to help each other navigating this huge bill to lift up those most impacted.

Thank you, stay safe,
Basem
asem Abdelmalak, MD, FASA, SAMBA-F | Professor of Anesthesiology | Director, Anesthesia for Bronchoscopic Surgery | Director, Center for Sedation | Departments of General Anesthesiology and Outcomes Research
Cleveland Clinic | Cleveland, OH e-mail: [email protected]

Past President, Society for Amb
 Subject : Re:Stimulus Package (CARES) and Ambulatory Anesthesia.. 03/30/2020 11:55:03 AM 
Dr. Ruchir Gupta
Posts: 2
Location: 
Thank you basem for shining a spotlight on this key topic. I have been doing my own research into this daily and from what I understand:

1. Self employed individuals may tap into the "pandemic unemployment insurance" which include gig workers such as uber and lyft drivers. They too are technically "self employed" because they are not employees of uber but instead are independent contractors.

2. The insurance amount has been raised by $600 but not sure if this is weekly or monthly. I think its weekly.

3. The total unemployment limit is decided by states and for my state, NYS, I think the cap is close to $1,100 weekly. Again very unsure here because haven't found any definitive answers.

4. The small business loans approved by the stimulus must be used for payroll or rent in order to qualify for forgiveness. For most ASC these would include nurses, nursing assistants, custodial staff but definately not physicians.

I would be curious to know if my understanding is accurate and what other means, if any, the displaced self employed physician has at this point. I can tell you many small anesthesia office based groups in NY are hurting and there does not seem to be an end in sight. Governor cuomo said the apex is 3 weeks away which is to say elective surgeries won't be allowed until we have crossed the apex and made drastic reduction in numbers which is another 3-4 weeks after.
 Subject : Re:Stimulus Package (CARES) and Ambulatory Anesthesia.. 03/30/2020 05:22:38 PM 
Mallory Caldarella
Posts: 2
Location: 
Post from Dr. Jeffrey Apfelbaum :

I found this brief summary of the effect of the House bill on small businesses. It is from the AMA website.

Small businesses, including physician practices, with no more than 500 employees are eligible to apply for the Small Business Administration’s (SBA) section 7(a) Payroll Protection Program. This allows a small business to apply to an SBA-approved lender for a loan of up to 250 percent of the business’ average monthly payroll costs to cover eight weeks of payroll as well as help with other expenses like rent, mortgage payments, and utilities. The maximum loan amount is $10 million. Sole-proprietors, independent contractors, and other self- employed individuals are eligible. Small businesses with more than one physical location are eligible for each location as long as it has no more than 500 employees per physical location. A loan can be forgiven based on maintaining employee and salary levels. For any portion of the loan that is not forgiven, the terms include a maximum term of 10 years, a maximum interest rate of four percent. Small businesses and organizations will be able to apply if they were harmed by COVID-19 between February 15, 2020 and June 30, 2020. This program is retroactive to February 15, 2020 and are available through June 30, 2020. (Division A).

Link : https://urldefense.proofpoint.com/v2/url?u=https-3A__www.ama-2Dassn.org_system_files_2020-2D03_summary-2DH.R.-2520748-2Dcares-2Dact.pdf&d=DwMFaQ&c=Nd1gv_ZWYNIRyZYZmXb18oVfc3lTqv2smA_esABG70U&r=SXOnI1Dg9DxgB8eAS4diM4R8S36cvkP4DmdoAJEeFaA&m=1a5Xo8Vp0RevwGw8-skGn7O_1FFg6eUrqJkEOTayo3E&s=UleLXlExmpciXgGrSIFtyS67mjXv9Lv7ikgkjgOSBSU&e=
 
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