Paycheck Protection Program
The Paycheck Protection Program (PPP) provides federally guaranteed loans for employers with <500 employees as long as they maintain their payroll or restore their payrolls after and satisfy other criteria.
- Retroactive to February 15, 2020 and extends through June 30, 2020
- May be used for payroll and other expenses like rent, mortgage payments and utilities
- 2-year term, 1% interest, no interest or principal payments for 6 months
- Includes potential for partial or complete forgiveness of the loan
- No more than 25% of the forgiven amount may be for non-payroll costs
- Self-employed individuals and independent contracts can apply as early as April 10
More Information on the PPP Program
Your practice’s existing bank is likely able to help you faster than a new lender. Please contact them first. If they cannot support you in the process, please go to sba.gov to find a participating lender.
Tenet Physician Resources physicians (employed and foundation model) are likely not eligible to participate in the PPP loans. We are monitoring eligibility and plan to pursue on behalf of physicians if appropriate.
Please click here for additional details on the PPP, including eligibility, the application process, and list of FAQs.
Medicare Advance Payment Program
CMS expanded its existing Accelerated and Advance Payment Program for the duration of the public health emergency to help physicians with cash flow challenges they may experience as a result of COVID-19.
- Available to any Medicare provider who submits a request to the MAC and meets eligibility requirements
- Physicians may request up to 100% of their Medicare billings from October 1 through December 31, 2019
- Physicians continue to submit and be paid for Medicare claims as usual for 120 days after the payment
- Medicare will begin to recoup the Advanced Payment amount from claims submitted at day 121 onwards.
- Advance payments are not grants. Physicians must repay the entire amount within 210 days.
- There is no deadline as long as the request is within the period of the public health emergency
Tenet Physician Resources is supporting applications for respective physicians.
Other Noteworthy Provisions
- Healthcare provider grant program: Provides $100 billion in financial relief through the Public Health and Social Services Emergency Fund to cover unreimbursed costs and lost revenue attributable to COVID-19. Final details and eligibility to be finalized.
- Provisions to expand telehealth: Provides a Health Resources and Services Administration (HRSA) grant program, allows a high deductible health plan to include telehealth services for free, and increases Medicare telehealth flexibilities during the emergency, among other actions.
- Limitation on liability for volunteers: Provides physicians who volunteer medical services during the public health emergency, related to COVID-19, liability protections. These protections are in addition to those provided by the Volunteers Protection Act of 1997.
- Defers student loan payments. Defers student loan payments, principals and interests through September 30, 2020. Involuntary collection related to student loans will be suspended.
Resources for Physicians
We are actively working with corporate partners to provide additional resources for our physicians as you care for our communities.
The information included on this site is subject to revision and interpretation based on pending rules and regulations. This information is only a summary of more detailed information and may not contain all the information that is important or relevant to you. No representation or warranty, expressed or implied is made. You should not place undue reliance on the accuracy, fairness or completeness of the information presented.