The novel coronavirus (COVID-19) pandemic continues to have a profound financial impact on health care providers. Many are incurring significant expenses on the front lines of pandemic response at the same time that revenue is sharply declining with the postponement and cancellation of non-essential procedures and visits. The adverse financial impacts are nearly universal amongst providers, although the extent and nature of financial impact varies by provider type, size, and geography.
There are, however, several financial resources available to health care providers during the COVID-19 public health emergency. Hooper, Lundy and Bookman (“HLB”) believes that the financial challenges presented by this crisis call for a multi-faceted response that draws upon all available avenues. Our COVID-19 Task Force has assembled a team of attorneys to comprehensively address providers’ financial distress by applying traditional approaches to relief from financial obligations, availing organizations of new revenue sources and loans, and pursuing insurance coverage for business interruption.
In order to support our clients in understanding various options for addressing financial challenges presented by the COVID-19 public health emergency, we have assembled a quick reference guide that offers specific detail about financial relief options that may be available to providers during this time.