Episode 115: What Happens When the PPP Fund Runs Out?

This week, Brian motivates his audience by reminding them of the steps that they can take to internally bring their practice back to where it needs to be for their patients, staff and community. He relays his knowledge of the current state of the PPP and finances as they apply to practice owners based on his research. Tune in to learn details of the PPP fund, your Business Strategic Plan (BSP), and more!

Key Takeaways/Points

  • Potential shift in time frame of the PPP

  • SBA has issued a Forgiveness Application (submit to your lender!)
  • “If you keep doing what you’re doing, you’re gonna keep getting what you’ve got”
  • Pull out your 2020 Business Strategic Plan (BSP) and UPDATE it
  • If you don’t have one yet, MAKE ONE! You need a roadmap!
  • 3 most important actions of business operation moving forward:
  • Environment reengineering costs and maintenance
  • Only adopt the new services that you believe in
  • Your patient scheduling as it pertains to your weekly volume of the new practice operations
  • We have to move forward into this new environment like a Startup!
  • Work out your cash-flow projections from now to at least October 1st
  • Pro forma for income and expenses
  • Create a new financial plan!
  • Invest your resources to keep your focus on GROWTH!
  • Invest in yourself and your team

Resources:

Watch a brief Demo of Brian explaining the Cash-flow projection!
Access The COVID-19 Policy & Procedure Playbook
Visit our COVID-19 Resource Page

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