Ninety-seven percent of U.S. medical practices have taken a financial hit from the COVID-19 pandemic, according to a survey by the Medical Group Management Association.
Eleven ASCs and specialty groups that have gained funding to offset losses:
Note: This is not an exhaustive list. Please contact email@example.com if your organization should be included.
1. Greenfield, Wis.-based Advanced Pain Management reopened nine locations after receiving a $408,511 grant through the Coronavirus Aid, Relief and Economic Security Act and $379,598 through CMS' Accelerated and Advance Payment Program expansion.
2. Northwest Orthopaedic Associates in Chicago received $143,000 in federal funding to alleviate revenue losses from the suspension of elective surgeries.
3. The United Spinal Association received a grant from the Craig H. Nielsen Foundation to help people suffering from spinal cord injuries and disorders during the pandemic.
4. The San Antonio Orthopaedic Group has gotten two federal loans through the Paycheck Protection Program to help it maintain liquidity.
5. Chicago-based Sinai Health System received a $7 million grant for a planned ASC in Chicago's North Lawndale neighborhood. The community development block grant, which is part of the city's CARES Act funding, was approved June 17.
6. Pediatric Ophthalmology and Strabismus was able to bring employees back on payroll and reopen for nonemergency cases after receiving a PPP loan April 25. The private practice includes 27 employees, four physicians and three offices in Pennsylvania.
7. Erie, Pa.-based UPMC Hamot Surgery Center received $145,564 in CARES Act and PPP funding.
8. Vancouver, Canada-based CRH Medical Corp. received $2,945,620 in PPP loan proceeds. CRH Medical provides anesthesia services for endoscopy patients in ASCs.
9. New York City-based Gramercy Surgery Center has reopened for elective surgeries with funding through the PPP.
10. Bloomington, Ill.-based VisionPoint Eye Center received a PPP loan that will help the business stay afloat and keep its employees paid through the pandemic.
11. Wyomissing, Pa.-based Berks Ambulatory Surgery Center received a $100,000 loan from the Pennsylvania Department of Community and Economic Development. The fund was awarded April 15 in the second round of the state's COVID-19 Working Capital Access Program.