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FEDERAL STIMULUS FUNDS FOR PHYSICIANS
In March and April, Congress passed multiple pieces of legislation to create the Paycheck Protection forgivable loan Program (PPP) to assist small businesses including physician practices. To date, the program has approved assistance to nearly 250,000 New York businesses in two different rounds of application periods, including many physician practices.
These Congressional packages have also allocated $175 billion for the CARES Act Health Provider Relief Pool to assist physicians, hospitals and other health providers. The funds from this pool have been allocated in various distribution segments over the past several months.
We understand that many physicians have received distributions from one or both of these funding pools. However, we have also frequently heard that these funding pools have only modestly offset the enormous drop in patient revenue for this year. That is why MSSNY continues to advocate with many organizations in support of urging Congress to enact another “stimulus” bill to supplement these previous efforts.
As with our two previous surveys, MSSNY wants to gather data to determine how much New York physicians are benefiting from these new resources to better guide our advocacy. Please help us evaluate this by taking a few minutes to fill out and submit the following Survey Monkey questionnaire.