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Financial Stability in the COVID-19 Era: Go-Forward Strategies for Long-Term Post-Acute Care Controllers

Posted by Jennifer Richter, CPA and Liz Lane, CPA on Jun 5, 2020 10:08:57 AM

As long-term post-acute care (LTPAC) organizations continue to navigate the ever-changing coronavirus (COVID-19) landscape, the clinical challenges they face are readily apparent. Less publicized, however – yet highly consequential – are the financial impacts of this crisis on LTPAC facilities of every size and scope.

In only a few short months, COVID-19 has put many LTPACs in untenable financial positions as they scramble to meet myriad obligations and ensure adequate cash flow.

The crisis is far from over, and with so much uncertainty, the full scale of its financial impacts may not be fully understood for months—possibly even years. Beyond obvious steps like eliminating nonessential costs, what measures can LTPAC CFOs and controllers take now to promote financial stability as this unprecedented crisis unfolds?

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Topics: skilled nursing facility consultants, COVID-19, long term post-acute care, healthcare financial consulting

Economic Recovery From COVID-19: CARES Act Takeaways for Long-Term Post-Acute Care Organizations

Posted by Maureen Hedrick on Apr 16, 2020 7:45:00 AM

 

Like all providers in the healthcare arena, long-term post-acute care (LTPAC) organizations have been engulfed in a whirlwind of dramatic change by the coronavirus (COVID-19) pandemic . This crisis not only presents enormous clinical challenges for LTPACs, but myriad financial impacts threaten many facilities’ very existence.

Federal relief was sorely needed – quickly – and on March 27, it arrived via the $2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) which was signed into law by President Trump. The CARES Act offers healthcare providers – LTPACs included – an array of relief measures designed to ease financial and regulatory burdens associated with this crisis.

 

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Topics: skilled nursing facility consultants, Coronavirus, SNF Consultants, COVID-19, long term post-acute care, CARES Act

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