Financial Recovery Program

The North Carolina Medical Society Foundation (NCMSF) is proud to oversee the state-funded Financial Recovery Program (FRP) to assist eligible practices throughout the state that are experiencing economic distress due to the pandemic.

Funding will be based on reimbursement for COVID-19-related expenses incurred between March 1 and Nov. 30, 2020.

This is a grant program for eligible practices for reimbursement of eligible, COVID-19 related expenses. See below for details.

Your practice is eligible if it falls in ALL of the following categories:

(1) Your practice is organized in accordance with North Carolina General Statutes Chapter 55B and registered with the North Carolina Medical Board as a professional corporation or professional limited liability company with the purpose of practicing medicine.

(2) Your practice currently provides or contracts for professional medical services.

(3) Your practice is not owned, managed or otherwise controlled by an entity defined in G.S. 131E-76(3), such as a health system (not owned by a health system, venture capital firm, etc.)

(4) Your practice is not managed by a practice management company unless the practice management company is majority owned by North Carolina licensed physicians.

The deadline to apply is Nov. 30, 2020 with no exceptions.

Apply here: https://frp.ncmedsoc.org

You may not claim reimbursement for expenses already paid for through the federal Paycheck Protection Program (PPP) or CARES Act Provider Relief Program.

Eligible expenditures include, but are not limited to, payment for:

  • Telehealth equipment cost– computers, cameras, hotspots, etc.
  • Infection control costs – PPE, thermometers, cleaning/disinfecting/sanitizing cost, etc.
  • Revenue replacement is not eligible, but rent/mortgage/utilities expense during shutdown is.
  • Renovations/cost to accommodate social distancing or improving ventilation (plexiglass installation, HVAC updates, HEPA filters, etc.)

Documentation for these expenses include W9s, receipts and invoices to verify expenditures.

Review our continually updated Financial Recovery Program FAQs to get answers to your questions. [Updated 11-20-20]

Still have questions? Please send them to FRPNCMS@ncmedsoc.org.

Watch the webinar on the FRP, held Nov. 10, to gain a better understanding and answers to common questions. Access the webinar here.

Disclaimer: The Financial Recovery Program (FRP) provides financial assistance to independent medical practices in North Carolina with demonstrated financial needs related to COVID-19. To be eligible to apply for assistance, each practice must certify that they satisfy the following qualifying criteria:
  1. Your practice is organized in accordance with North Carolina General Statutes Chapter 55Band registered with the North Carolina Medical Board as a professional corporation or professional limited liability company for the purpose of practicing medicine.
  2. Your practice currently provides or contracts for professional medical services.
  3. Your practice is not owned, managed, or otherwise controlled by an entity defined in S. 131E-76(3).
  4. Your practice is not managed by a practice management company unless the practice management company is majority owned by North Carolina licensed physicians.
Qualifying applicants will be provided a one-time grant of a specified amount disclosed to each grantee at the time they are approved for assistance from the FRP. Financial assistance through the FRP is provided on a first come, first served basis to qualifying applicants to the extent the FRP has capacity to provide assistance.
The FRP reserves the right to request additional information to verify compliance with eligibility criteria. Failure to provide requested information and/or supplemental documentation may result in denial of the application.  
Submitted applications will be evaluated using a scoring algorithm based upon established criteria. Applicants should ensure accurate data are provided throughout the application process. Inaccurate data will impact evaluation. The submission of an application does not guarantee a grant will be awarded.
All applications and submitted supplemental documentation will be treated confidentially. No applications or identifying data contained therein will be made public prior to, during, or after the selection process. However, grantees may be made public following an award of funding, and information related to grantees may be disclosed to the North Carolina Office of State Budget and Management (OSBM) as necessary to satisfy reporting obligations of the North Carolina Medical Society Foundation (NCMSF).
As a condition of receiving application data for purpose of determining reimbursable expenses incurred due to COVID-19, NCMSF agrees:
1) Data provided by applicants either as part of their application or in response to requests for supplemental data will not be shared, sold, or provided in any format to any person or entity outside NCMS Foundation, including any Medicaid prepaid health plan, clinically integrated network, health services provider or medical group, government entity or regulator except as necessary to comply with standards governing the FRP program operations and program accountability. We do expect the Office of State Management and Budget and the Office of State Auditor will require that NCMS Foundation submit applicant data to ensure funds are distributed in compliance with applicable standards.
2) Appropriate safeguards to prevent use or disclosure of application data other than as provided for by this application will be in place; and,
3) Applicant authorization will be obtained prior to any NCMSF use or disclosure of application data not specifically provided for by this application.
NCMSF, its affiliates, employees, agents, and trustees shall not be liable for any incidental, direct, indirect, punitive, actual, consequential, special, exemplar, or other damages, including loss of revenue or income, pain and suffering emotional distress, or similar damages, arising out of or relating in any way to the FRP, the FRP application process, the FRP and/or NCMSF website, any FRP and/or NCMSF website-related services, content or information contained therein. Applicants release and forever waive any and all claims applicants may have against NCMSF, its affiliates, employees, agents, and trustees for losses or damages applicants sustain in connection with applicants use of the FRP and/or NCMSF website.

 

 
 

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