To ALL PHYSICIANS AND PRACTICE MANAGERS:
Blue Shield of California recently announced it would be providing $200 million in direct support to physician practices and other health care providers. Today, the payor started accepting applications for the support, which will be offered in a number of categories:
Loans: Blue Shield is providing up to $100 million in in provider loans. Loan amounts must not exceed $2 million.
Advance Payments: Blue Shield is providing up to $100 million in advance payments for contracted Blue Shield providers. There is a grace period of six months and must be repaid in full by 12 months either directly or through offset of future claims.
Value-Based/Risk Sharing Contracts: Physicians can convert their contracts to value-based contracts (where available) or risk sharing contracts, which provide a monthly base revenue stream.
Providers can also opt to receive the patient cost-sharing portion of the bill at the time the claim is paid, eliminating the time and expense of collecting patient out-of-pocket costs.
The California Medical Association is encouraging interested physicians to apply as soon as possible, as the available funding is limited. For more information and to apply for the programs, email
Financecommunication@blueshieldca.com.
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Save Small Business Fund grant application goes live today at noon
The Save Small Business Fund is providing $5,000 in short-term relief to employers across the United States. These one-time supplemental cash grants are for businesses that have between 3 and 20 employees and operate in an economically vulnerable community.
What to do right now:
- Go to www.savesmallbusiness.com to check the zip code of your business for “economically vulnerable community” qualification.
- Get your business's W-9 form in an electronic format. (Get the blank IRS form in English or Spanish.)
What to expect when you apply:
- The application will only take approx. 10 minutes to complete.
- All you will need is your business's W-9 form.
- Grants will be awarded on a weekly basis, but you only need to apply one time to be eligible for funding.
The Save Small Business Fund is an initiative of the U.S. Chamber of Commerce Foundation funded by contributions from corporate and philanthropic partners. To learn more about the Save Small Business Fund and to apply for a grant,
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Cost: No Charge
Please join this webinar to hear the latest on the financial assistance programs available to physician practices resulting from the COVID-19 pandemic.
Click here to register.
Presented by Chris Bell and Georgia Green of Moss Adams, a leading accounting, consulting and wealth management firm with over 250 professionals dedicated to the health care industry.
The California Medical Association (CMA) will also provide an overview of its advocacy efforts to sustain the financial viability of medical practices. If you need assistance with registration, please email
events@cmadocs.org.
