The COVID-19 pandemic has shaken the world in such a way that many small businesses including post-acute care centers are struggling to stay afloat. Restrictions on what we can and can’t do, who comes, who goes, where they go, and for how long has challenged the most seasoned administrator/owner since early March. Add to that the CMS requirement for testing, not that any of us disagree that testing is necessary, however, the cost of meeting this requirement can mean the end of the road for some small providers.
In a Skilled Nursing News article, one owner/operator stated that meeting the testing requirements for his centers has been averaging $20,000 per week per center! Looking forward, how sustainable can this be? It is a true conundrum that all providers are facing and honestly there are no concrete answers. The CARES act has helped many of these providers but how long will that be a viable option?
In your efforts to sustain your organization in a positive, financial situation, please take the time to read everything! There are opportunities for assistance, grants, loans, etc. that you may not be aware of. Don’t roll up the carpet and close the shutters unless you have exhausted every opportunity to get assistance. We are all in this together, there is hope and help. Stay well, stay safe, and stay tuned!