Looking for a lifeline to help guide your practice through the coronavirus crisis? While numerous pieces of legislation are making their way through Congress, one of the most significant for health care providers, particularly rural doctors of chiropractic, is the Immediate Relief for Rural Facilities and Providers Act of 2020, introduced by Sens. Michael Bennet (D-Colo.) and John Barrasso (R-Wyo.) on March 24.
According to a press release on Sen. Barrasso's website, S. 3559 would:
- Provide Stabilization and Relief for Providers with an emergency, one-time grant for all providers and ambulatory surgery centers equal to their total payroll from January 1 - April 1, 2019.
- Provide Funding for Physicians and Providers by authorizing the Small Business Administration to provide low interest loans to providers and ambulatory surgery centers at a 0.25% interest rate that will not accrue until two years after the COVID-19 pandemic has ended.
Chiropractors are included in the definition of physician in section 5 1861(r) of the Social Security Act, making DCs eligible for provisions in the legislation.
"Like small business owners across the country, chiropractors are facing financial challenges that could lead to very difficult decisions down the road," said ACA President Robert C. Jones, DC, in an association press release urging all DCs to contact members of Congress immediately regarding the importance of passing the act. "This relief package offers many a real chance to make it through this crisis and continue to serve their communities."
Click here to monitor status and learn more about S. 3559, which includes specifics on grant / loan qualifications, appropriate fund use and repayment stipulations.
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