03/27/2020

CASA ASC COVID-19 Resources 3.27.2020

The updates and response to COVID-19 rapidly change each day. As you are responding to the needs of your patients, ASC and community, we are working to provide you with resources to assist you in navigating the pandemic response.

Today, March 27, 2020, President Donald Trump signed H.R. 748, the third package of legislation to provide relief and support in response to the COVID-19 pandemic. ASCs should contact their business partners who assist with tax and lending issues to discuss how the options created by this legislation might apply to an individual ASC. The full text of the legislation is available here.

According to ASCA, under the new law, ASCs can attempt to access three possible sources of financial assistance:

About $350 billion in loans for small business designed to provide stability in light of the uncertain economic conditions caused by COVID-19; the maximum loan amount would be increased to $10 million, and loans would be forgivable if certain conditions are met.
About $450 billion in loans, loan guarantees and other investments for businesses; these funds flow through the Federal Reserve and are different than the direct loans from the Treasury Department that airlines can access.
$100 billion reserved for healthcare providers to make up lost revenue or support additional costs that are attributable to the corona virus; this fund will be administered by the US Department of Health and Human Services subject to guidance and requirements issued by the department.

The legislation would also make changes to the tax code, provide flexibility for telehealth services and extend programs under Medicare and Medicaid. Additionally, the legislation would limit paid leave requirements instituted in previous legislation and ensure that federal funding for leave is provided through advance tax credits. The bill also included rebate checks from the Internal Revenue Service to individuals and families and expanded unemployment insurance, among other provisions.

While it is likely that Congress will pass a fourth legislative package, it is unclear when work on that bill will begin or what the scope of that legislation might be.

Economic Preparations and Relief

ASCs should be preparing to be utilized in some type of alternative capacity in the COVID-19 response. As you have been in conversations with your Medical Health Operations Area Coordinator (MHOAC), they may have shared how they envision utilizing your ASC should you be needed for a COVID-19 surge. It would be prudent to inventory your equipment (anesthesia machines, gurneys, infusion pumps, etc.) including model and serial numbers, estimated value, etc.

Provided below are additional links to address economic issues. CASA will continue to update as we receive additional information.

Economic Issues

Additional Updates