28 May “Making Sense of Mental Health Business Financing in the Time of COVID-19” Podcast
The financial impact that the COVID-19 pandemic has had on businesses can not be understated. No industry has been immune, but some, including behavioral health, have been hit harder than others. Stay at home orders have dramatically decreased the ability to conduct in-office visits for individual and group therapy. While many practices are offering a teletherapy option to stay connected, some patients are unable to utilize technology that would allow them to continue receiving care. This has resulted in a dramatic loss of revenue that has had a significant impact on a mental health agency’s bottom line.
The CARES Act, PPP loans, small business loans and other financing options are available. But understanding state-specific requirements, wading through a sea of regulations, and submitting the paperwork can be confusing, causing many to abandon the process all together.
So how can mental health organizations survive and continue to keep their “doors” open during the time of COVID-19? Experts are here to help. Industry professionals offer extremely informative advice for anyone suffering from financial distress during the pandemic in the podcast, “Mental Health Business Financing in the Time of COVID-19”. Take a listen!