Strategies for Patients, Voicemail Script, PPP Decision

Here are some things that I did today.

1. I called the patients who left messages. Their concerns, major or minor, are their concerns. And the fact that the doctor called was a big deal to every one of them. One had a fractured tooth. We did a Zoom meeting together so that I could see it. It was a phone to phone Zoom meeting. You can do it from home. The patient will need to see us early this week. I know about the security concerns. They’ve done an update to handle at least some of that.
2. I am writing to everyone who has scheduled appointments to let them know that I’m thinking about them and giving them reassurance that things will be okay.
3. I made a new recording on my voicemail. You can see the script here.
4. What about the Paycheck Protection Program? I’ve given you both sides of the story. One is to get the loan right away. That was in the Schein webinar. The other is to delay the loan until you’re ready to hire staff back, in other words, just before your office opens for business. That’s in the Cain Watters webinar. Here are the concerns:

If we get the loan early, we are given eight weeks to spend the money. 75% has to go to payroll (and we think medical insurance and possibly pension plan) 25% can go to rent and utilities. If you use it that way (please check with your financial advisor.), the loan will be totally forgiven by the bank. However, we may not be ready to open when the eight weeks elapse. Given that we cannot get a second loan, we may have to furlough staff again until we are ready to open. But the good part in getting the loan early is that we get the loan. The Schein webinar recommended getting the loan early because we are not sure that there will be another round of funding if we delay.

The Cain Watters approach says to delay application for the loan until we know when we’re ready to open. Staff can stay on Unemployment until that time and do fine. When we open, our cash flow may be poor for the first few weeks. That will be a good time to use the loan. The distribution still has to be the 75/25% as above for the loan to be forgiven. They say that the loan will be funded.

This is a “gut check” decision. Are you willing to wait and see? Or do you want the sure thing and get the loan early? Right now, we’re leaning toward early only because of my wife’s and my gut. But there are smart people, including my financial planner who has national prominence, who says that when both parties are willing to spend money, and when the treasury is flush with tariff money from last year, that it will be funded.

It’s a personal decision. I recommend that you watch both webinars:

Delay taking the PPP:

Take the PPP now:

Please take action on the Public Service Advisory sent today. It’s important.

Here’s the link to take action now.

We will get through this and flourish.