We are all facing tough times and even tougher decisions. Some offices are still open treating patients daily while others have been forced to close their doors indefinitely. Regardless of your current situation you will need a battle plan to keep you moving forward towards our post-pandemic new world.
This is your opportunity to reinvent or re-position your office in your community. Establishing services that match the public demand is essential and does not involve scheduling more rehab visits at this time.
At this moment you will need to conserve your resources and plan to relaunch your business. Remember you are only 60-90 days away from a new practice at any point in time so don’t worry or be scared about what is to come.
Personal Action Steps:
As the leader of your office you must envision what you want your office to be in the future. Many of you have struggled for years always wanting something better. Now is your chance to seize the opportunity and create your ideal practice and more importantly your ideal life.
By following the battle plan below you will be positioned to establish your clinic as a community resource with services that patients will be searching for in the coming weeks. Your newly defined purpose will be super-charged and your life will change for the better.
HOW TO PREPARE YOUR OFFICE FOR SUCCESS POST-ISOLATION
Step 1 – Apply for your Payroll Protection Plan and Economic Injury Disaster Loan (EIDL).
On March 29, 2020, following the passage of the CARES Act, the SBA provided small business owners and nonprofits impacted by COVID-19 with the opportunity to obtain up to a $10,000 Advance on their Economic Injury Disaster Loan (EIDL). The Advance is available as part of the full EIDL application and will be transferred into the account you provide shortly after your application is submitted. To ensure that the greatest number of applicants can receive assistance during this challenging time, the amount of your Advance will be determined by the number of your pre-disaster (i.e., as of January 31, 2020) employees. The Advance will provide $1,000 per employee up to a maximum of $10,000.
You may be eligible for another loan program, the Paycheck Protection Program, which is available through participating lenders.
This is a very simple process to apply and does not require you to pay attorneys or accountants to complete the forms. Surprisingly enough the government and the SBA have made this process fairly easy to apply. Now qualifying and getting your money will be a bit more complex based upon your personal financials.
With the Payroll Protection Plan a company can receive 2.5x your payroll or you can file as a self-employed 1099 owner to receive up to $20,833.33 as a potentially forgivable grant/loan.
The most important part of this process is to have a specific plan to use the funds and that is where coaching with an expert is essential to succeed. DON’T MAKE THE SAME MISTAKE MANY OWNERS WILL MAKE. Schedule a call with us to create a plan that avoids the potential pitfalls with this unique opportunity.
Step 2 – Register your office with Allergy Solutions to provide at home allergy testing for your patients.
Step 3 – Register for Canyon MD to implement an approved telemedicine platform to your practice.
Step 4 – Implement Peptide Therapy with Regan Archibald and begin training.
Step 5 – Register your clinic with Wells Pharmacy to provide IV Nutritional Therapy.
Step 6 – Register your office to provide Pharmacy benefits to your patients.
Step 7 – File an insurance claim with your carrier for Business Interruption due to Covid-19.
Follow these steps so you will be prepared for your rebirth and be positioned to seize the opportunity that lies ahead.
Stay Safe
-Dr. Pat