What you should know:
1. The physician owners laid off some of the practice’s staff, giving them four weeks of pay and benefits while they look for new jobs.
2. The owners reviewed the practice’s finances, which showed they would no longer make enough money to support their entire staff. “We know our revenue is about to trickle to nothing,” Nate Poulson, MD, CEO of the practice, said. Boise Anesthesia largely provides services during elective procedures. Idaho hospitals have had to cancel elective surgeries, leading to cash flow decreases.
3. In addition to the layoffs, the practice’s physician owners decided to stop taking paychecks. They also reached out to banks to secure a loan to keep the business open through the coronavirus pandemic but found it was not a viable option.
Dr. Poulson commented on the severity of the coronavirus, saying: “I feel like I died four days ago, and I woke up in hell. Anywhere from 30 to 60 days from now, I’m going to descend into the seventh level of hell, and I don’t know when I’m going to come up.”
More articles on ASCs:
Life after COVID-19 — What the pandemic + an impending recession could mean for ASCs
Physicians may no longer need a new license to cross state lines
UPMC won’t stop elective surgeries — 4 insights
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