A Message to our Dental Community
With the March 16th, 2020 announcement from the American Dental Society recommending that “dentists nationwide postpone elective procedures in response to the spread of the coronavirus disease, COVID-19”, many of our dental practice clients are temporarily closing their offices or providing emergency services only.
Our priority at this time is to provide practice guidance and to support crisis management decision making. As we manage through this unprecedented environment, we are committed to providing guidance regarding crisis management strategies and emerging financial resources.
We will plan to provide regular dental practice updates as new details that affect practices emerge.
Following are several initial areas of guidance:
Practice & Student Loan Debt
You may consider contacting your lenders and requesting a forbearance on debt accounts. The banking community seems to be responding to a request for forbearance during this crisis.
Many practices are deciding whether to continue paying employees or issue layoff notices so that employees can file an unemployment claim. Our advice is to consult your State Department of Labor or local employment attorney for guidance in this area.
The federal government is promising to make low interest small business loans available to businesses that have been adversely impacted by COVID-19. This program will likely be available through the Small Business Administration. We also suggest communicating with your local banker for any emerging resources that may become available. We will provide updates as new programs become available.
Please stay tuned for regular updates. In the interim, please feel free to contact a Jones & Roth Dental Practice Advisor if we can be a resource for any practice financial management questions. You can reach us via email at firstname.lastname@example.org.