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COVID-19 Topic: Practice Finances

How will premium payments that were delayed during the first phase of COVID-19 be reconciled?

In March 2020, Curi made the decision to suspend all premium invoicing until June 30, 2020, in order to help our policyholders navigate the financial hardships…

What do I need to know about the Families First Coronavirus Response Act (FFCRA)?

Our Curi partner and HR consulting organization CAI has compiled several resources for understanding the act and how it will impact businesses and their staff. Here’s…

What are the implications of the federal “CARES” Act/stimulus bill for my practice?

The newly passed federal Coronavirus Aid, Relief, and Economic Security (CARES) Act has significant implications for medical practices, including financial support for small businesses and changes…

Does my policy cover telehealth?

Yes. Curi’s medical professional liability policy will cover telehealth visits for insured physicians during this declared National Emergency—extending, without conditions, for the later of either sixty…

Will tail coverage be affected by retired physicians returning to work during the emergency?

No. If you were a previous policyholder who retired and plan to come back to work to help during this National Emergency, you can rest assured…

Does my policy cover patient claims involving COVID-19?

Yes. Curi has no plans to modify or restrict current coverage as it relates to COVID-19 patient claims. As always, coverage is subject to your policy’s…

Regular rent costs have become a significant burden on our practice. Do you have any recommendations for mitigating this challenge?

In the wake of the COVID-19 crisis, many medical practices are struggling with larger outbound cash obligations as they work to preserve their businesses. In particular,…

WEBINAR: Getting It Right: Using and Reporting on Provider Relief Fund Grants

Click here to download the PDF slide deck.

Curi COVID-19 Webinar Series

Curi recently hosted a six-week series of webinars designed to help practices weather the COVID-19 crisis with information and actionable guidance. Every Thursday from April 30th…

WEBINAR: Keeping the Doors Open in a Pandemic: Practice Financing and Relief Funds

Curi’s Senior Vice President of Health Policy, Sam Cohen, and our Senior Vice President of Finance, Ben Remke, discuss how practices facing COVID-based financial hardship can access funds from federal initiatives such as the Paycheck Protection Program and the Main Street Lending Program.

WEBINAR: Managing Your Practice’s Retirement Plan During COVID-19

Dimitri Eliopoulos and Joe Dillon from Curi Capital walk through what practices can do with their retirement plans today to manage the economic fallout from the pandemic and how they can plan for the future.

HSA Eligible Expenses Expanded

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act
(CARES Act) was signed into law. In addition to providing direct financial
assistance to Americans, the CARES Act repeals the Medicine Cabinet Tax
provision of the Affordable Care Act (ACA), expanding the list of qualifying
expenses that can be purchased with health savings accounts (HSAs).

Freezing Pension (Cash Balance) Accruals to Enhance Financial Flexibility

Employees may be eligible to “freeze” cash balance pension plans to eliminate “normal cost,” which is typically the largest component of a plan’s required contribution.

Curi’s Resources for Running Your Business During COVID-19

Curi has partnered with Medical Management Associates, Inc. and Smith Anderson to develop a dedicated Business Resource Guide for practices during this time. The comprehensive guide offers advice on planning for your practice’s future, managing finances during the health crisis, furloughing or terminating staff, and meeting your commitments to employees.

Planning for Your Practice’s Future

Download PDF

Understanding the Paycheck Protection Program (PPP)

Download PDF

Termination, Layoff, & Furlough Checklist

Download PDF

Understanding the Federal Coronavirus Aid, Relief, and Economic Security Act (‘‘CARES Act’’)

The Curi team summarizes initial takeaways and implications of the act for businesses and individuals in three separate articles.

HR Implications of the Families First Coronavirus Response Act (FFCRA)

Curi partner and HR consulting organization CAI provides resources for understanding the act and how it will impact businesses and their staff.

Curi’s Guidance on Rent Relief

Rent costs have become a significant burden for practices that are experiencing a loss of revenue during this time. Curi has curated guidance on how to mitigate this challenge and minimize long-term negative financial impact.

Implications of New CARES Act Stimulus Bill for Practices

Our Curi Capital team summarizes the act passed on March 27, including key takeaways and implications for small businesses and individuals.

Curi Capital’s Financial Support Services

Our financial advisory affiliate is offering support services to all Curi members during this time of need at no additional charge.

Curi’s Financial Hardship Offerings

Curi has three options to support our insureds with financial hardships associated with the COVID-19 pandemic.

HHS Reopens Provider Relief Fund Portal

The federal Department of Health and Human Services has reopened the Provider Relief Fund portal for Period 1 reporting, from Dec. 13 until Dec. 20. In addition, Period 2 reporting begins…

$7.5 Billion Disbursed for Rural Providers

HHS last week began releasing $7.5 billion for providers who serve rural Medicaid, CHIP, and Medicare beneficiaries. The funds, which are disbursed from the American Rescue Plan (ARP),…

Grace Period for First Provider Relief Fund Reporting Period Ends

Nov. 30 marks the end of the 60-day grace period for providers to submit reporting requirements for the first reporting period of the Provider Relief Fund. The…

HHS Opens Application Portal for $25.5 Billion in Provider Funding

HHS yesterday opened the Provider Relief Fund Application and Attestation Portal, which providers can use to apply for a new round of $25.5 billion in funding for providers…

HHS Announces Additional $25.5 Billion in Provider Funding

The U.S. Department of Health and Human Services last Friday announced a new round of $25.5 billion in funding for providers affected by the COVID-19 pandemic. The funds…

Curi Webinar Helps Practices Navigate Provider Relief Fund Reporting

Curi today presented a webinar entitled, “Getting It Right: Using and Reporting on Provider Relief Fund Grants.” The session, led by healthcare attorney Robert Shaw of the firm…

Federal Government Re-Opens Paycheck Protection Program, Issues New Guidance

The U.S. Department of the Treasury and the Small Business Administration this week re-opened the Paycheck Protection Program. The program opened on Jan. 11 for businesses that…

Deadline Tonight for North Carolina Financial Support Program for Practices

The deadline for North Carolina’s state-funded Financial Recovery Program, which offers financial support to practices experiencing financial strain due to the COVID-19 pandemic, is midnight on Nov. 30.

North Carolina Financial Recovery Program Webinar

The North Carolina Medical Society Foundation is hosting a webinar on Nov. 10 to offer an overview of the state’s Financial Recovery Program.

HHS Updates Provider Relief Fund Reporting Requirements

The U.S. Department of Health and Human Services last week updated its guidance on Provider Relief Fund grants, removing earlier limits on providers’ ability to use the money…

Federal Government Streamlines PPP Loan Forgiveness Application for Small Businesses

The U.S. Small Business Administration last week announced a new, simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less.

CMS Extends Repayment Period for Medicare Loans to Providers During COVID-19

The Centers for Medicare and Medicaid Services has announced new terms for payments issued to providers through the Accelerated and Advance Payment (AAP) program, which provides emergency advance payments in emergency situations.

Application Period Begins for North Carolina Financial Support Program for Practices

North Carolina’s state-funded Financial Recovery Program, which offers financial support to practices experiencing financial strain due to the COVID-19 pandemic, is now accepting applications.

Small Business Administration Clarifies Guidance on Ownership Changes for Small Businesses With PPP Loans

The U.S. Small Business Administration has issued guidance clarifying when small businesses with Paycheck Protection Program loans need to receive approval for changes of ownership.

HHS Announces New Round of Provider Relief Fund Grants

The federal Department of Health and Human Services today announced an additional $20 billion in funding for providers. Beginning Oct. 5, providers that have already received Provider…

Changes to Medicare Accelerated and Advance Payments Program Repayment Terms Benefit Providers

Revisions to the repayment provisions of the Medicare Accelerated and Advance Payments program have been included as part of a federal government funding bill signed into law this…

Federal Reserve Updates Main Street Lending Program FAQs to Encourage Broader Lending

The Federal Reserve on Friday updated the FAQs for the Main Street Lending Program to encourage banks to consider borrowers’ pre- and post-pandemic financial condition when reviewing loan…

HHS Releases Provider Relief Fund Reporting Requirements

The U.S. Department of Health and Human Services has released details about reporting requirements and auditing for the CARES Act Provider Relief Fund. HHS has also moved the…

North Carolina Job Retention Grant Program Application Deadline Next Week

North Carolina practices have until next Tuesday, Sept. 1, to apply for funds through the state’s Job Retention Grant (JRG) Program, which offers up to $250,000…

New Paycheck Protection Program Loan Forgiveness FAQs Issued

The federal Small Business Administration has issued new FAQs addressing borrower and lender questions about forgiveness for Paycheck Protection Program loans. To view the FAQs, click here.

HHS Further Extends Provider Relief Fund Application Deadline for Medicaid Providers

The federal Department of Health and Human Services (HHS) on Friday extended until Aug. 28 the deadline for providers participating in Medicaid and CHIP (but not Medicare) to apply for support from the Provider Relief Fund.

CMS to Resume Healthcare Provider Audits August 3

CMS has announced that it will resume Medicare Fee-For-Service (FFS) medical review Aug. 3, regardless of the status of the COVID-19 public health emergency. The audits had been…

HHS Releases Provider Relief Fund Reporting Guidance

The federal Department of Health and Human Services has released guidance on reporting requirements for practices that received more than $10,000 from the CARES Act Provider…

IRS Declares Provider Relief Fund Money to Be Taxable for For-Profit Providers

Just days before the July 15 federal tax filing deadline, the IRS has announced that for-profit healthcare providers that received Provider Relief Fund money will have to pay…

Federal Government Releases PPP Loan Data

The U.S. Small Business Administration (SBA) yesterday released data about recipients of loans made under the Paycheck Protection Program (PPP). For businesses receiving $150,000 or more in PPP funds, SBA…

Main Street Lending Program Now Fully Operational

The Federal Reserve Bank of Boston today announced that the Main Street Lending Program, which will lend up to $600 billion to small and midsize businesses affected by the…

Small Business Administration Announces Increased Disclosure About Paycheck Protection Program Recipients

The U.S. Small Business Administration on Friday announced that it will publish details about recipients of Paycheck Protection Program (PPP) funds. SBA will disclose business names,…

HHS Updates Reporting Requirements for Recipients of Provider Relief Fund Payments

In an update to its CARES Act FAQs, HHS has clarified that Provider Relief Fund recipients do not need to submit a quarterly report, although future…

Federal Small Business Administration Reopens Loan Program for Businesses Affected by COVID-19

The U.S. Small Business Administration yesterday reopened the Economic Injury Disaster Loan (EIDL) program and the EIDL Advance portal. The EIDL offers long-term, low-interest loans to…

Federal Reserve Opens Main Street Lending Program for Small and Midsize Businesses

The Federal Reserve has opened its Main Street Lending Program, which will lend up to $600 billion to small and midsize businesses affected by the COVID-19 pandemic,…

Small Business Administration Issues Regulations for Implementing Paycheck Protection Program Flexibility Act

The federal Small Business Administration (SBA) has released its first set of regulations implementing the new Paycheck Protection Program (PPP) Flexibility Act, which became law late last…

Paycheck Protection Program Loan Forgiveness Application Available

The U.S. Small Business Administration has released an application that recipients of Paycheck Protection Program (PPP) funds can use to seek forgiveness for those loans. The…

Curi COVID-19 Webinar Thursday

Curi’s six-week series of webinars designed to help practices weather the COVID-19 crisis continues tomorrow, with Curi’s Sam Cohen and Ben Remke presenting “Keeping the Doors…

Main Street Lending Program

The Federal Reserve yesterday provided new information about the Main Street Lending Program, which is designed to target midsize businesses too large to qualify for the Paycheck Protection Program…

Curi Webinar on Practice Financing Options

Curi’s webinar series continues next Thursday, May 7, with “Keeping the Doors Open in a Pandemic: Practice Financing and Relief Funds.” Curi’s Senior Vice President of…

Curi COVID-19 Webinar Series Kicks off Thursday, April 30

Register for “Planning for the Future While Living in the Present: Managing Your Practice’s Retirement Plan During COVID-19,” presented by Dimitri Eliopoulos and Joe Dillon from Curi Capital.

Provider Funding Support News

The general distribution application portal for the next round of $20 billion in funding from the federal CARES Act Provider Relief Fund is now live.

Provider Relief Fund Distributions

HHS has announced how it will allocate the remaining $70 billion from the Public Health and Social Services Emergency Fund under the CARES Act. $20 billion will be…

Paycheck Protection Program Signed Into Law

President Trump earlier today signed into law another interim COVID-19 relief bill, which includes an additional $310 billion for the Paycheck Protection Program for small businesses.

Preparing for Second Round of Federal Paycheck Protection Program  

With Congress in the final stages of negotiating a second round of Paycheck Protection Program (PPP) funds to help small businesses, we urge practices to be ready to…

ACS Guidance for Resuming Elective Surgeries  

In addition to the guidance on resuming non-emergent care we shared yesterday from CMS and the American Society of Anesthesiologists, the American College of Surgeons has released a surgical resource document for facilities…

Emerging Guidelines for Resuming Care

As the medical community looks ahead to when pandemic restrictions begin to lift, government entities and other organizations are starting to offer recommendations for how to…

HHS Opens CARES Act Payment Attestation Portal  

HHS has released a new website allowing providers who have received payments under the CARES Act to confirm receipt of the funds and agree to the program’s terms and conditions. The portal is available here. 

Curi CEO’s Op-Ed Suggests Path Forward From COVID-19  

In an op-ed published today, Curi CEO Dale Jenkins—along with former FDA Commissioner Dr. Mark McClellan and LabCorp Executive Chairman and former CEO David King—propose some steps needed…

HHS Provides Clarification on CARES Act Provider Relief Fund

HHS has updated its website for the CARES Act Provider Relief Fund to clarify that not having treated a suspected or actual COVID-19 patient does not…

Practice Financing Updates—Main Street Lending Program & CARES Act Allocations

Larger practices seeking financial support during the health crisis may apply for relief via the Federal Reserve’s Main Street Lending Program. In addition, HHS has begun…

Guidance on Retirement Plan Management From Curi Capital

Curi’s full-service financial advisory firm, Curi Capital, offers guidance to practices with cash balance pension plans on how they may freeze accruals to temporarily free up…

Curi Introduces New Business Resource Guide

Today, we’re delighted to share a new tool designed to help you run your practice during this time of uncertainty: Curi’s Business Resource Guide, which offers…

Updates to FFCRA Employer Decision Tree

Curi partner CAI has updated the decision tree we shared yesterday, with new guidance on employers’ responsibilities under the FFCRA and the Coronavirus Aid, Relief, and…

ACS Guidelines for Triaging Elective Surgeries

The American College of Surgeons has released triage guidelines for elective surgeries.

U.S. Department of Labor Webinar on Employer Provisions in FFCRA—April 3

The U.S. Department of Labor has announced that it is producing a webinar on the implications of the Families First Coronavirus Response Act (FFCRA) for employers…

FFCRA & CARES Act Employer Decision Tree

Curi partner CAI has produced a decision tree to guide employers through their responsibilities under the new Families First Coronavirus Response Act (FFCRA) and Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Paycheck Protection Program Application Now Available

The U.S. Department of the Treasury today released the guidelines and application form necessary to apply for and receive loans under the Paycheck Protection Program (PPP)…

CARES Act Implications for Retirement Plans and Small Business Finances

Continuing Curi’s analysis of how the new CARES Act stimulus law will affect practices, today we examine what it means for retirement plans and small business finances.

CMS Expands Support for Providers With Financial Challenges

CMS has released a fact sheet detailing how providers can quickly access funds through its Accelerated and Advance Payment Program. These funds may support practices and other entities…

Employer Updates From U.S. Department of Labor

The U.S. Department of Labor has updated its FAQ guide with details about two issues: who qualifies as a health care provider for issues related to paid sick…

Implications of New CARES Act Stimulus Bill for Practices

The newly passed federal Coronavirus Aid, Relief, and Economic Security (CARES) Act has significant implications for medical practices, including financial support for small businesses and changes…

Curi’s Guidance on Rent Relief 

Click here to see Curi’s guidance for practices considering seeking rent relief in the face of COVID-19-related financial hardships.

Special Coding Advice from AMA

A new resource from the AMA offers guidance on applying the optimal coding practices during the COVID-19 crisis.

Curi Capital Support for Curi Customers

Our financial advisory firm, Curi Capital, is offering all Curi members a range of support services for individuals and practices at no charge during the outbreak.

Curi’s Financial Hardship Offerings for Practices

We have developed three options to support our policyholders with financial hardships associated with COVID-19: temporary practice closing, furloughing providers, and premium relief.

CMS Section 1135 Medicaid Waivers

CMS yesterday approved section 1135 Medicaid waivers for 11 states, including New Jersey, North Carolina, and Virginia. (Florida had a waiver approved on March 16.) These waivers cover issues such as provider enrollment, pre-admission screening and annual assessments for nursing facility residents, the provision of services in alternative (unlicensed) facilities, and prior authorization requirements.

Human Resources and Staff Management

The human resources consulting organization CAI, a Curi partner, has compiled a “Coronavirus Command Center” full of resources that can help you with employee management and other human resources issues during this crisis. Of special interest, they have just published a guide to the HR implications of the new federal Families First Coronavirus Response Act (FFCRA), including issues of paid and emergency leave, furloughs and layoffs, and FMLA.

Have COVID-19 Questions?

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