NCMS Morning Rounds 11-5-20

Here is your Thursday NCMS Morning Rounds.

Nov. 5, 2020

Still Time to Apply for Financial Recovery Funds

The NCMS Foundation’s Financial Recovery Program (FRP) will be accepting applications for financial relief for independent practices in North Carolina struggling due to the COVID-19 pandemic until Nov. 30.

See if your practice is eligible for reimbursement for COVID-19-related expenses incurred between March 1 and Nov. 30, what expenses are included and how to apply at the FRP webpage here.

Next Tuesday, Nov. 10, from noon to 1 pm, the NCMS Foundation will host a webinar to answer your questions about the program and how to apply. Learn more and register for this virtual event here.

The NCMS lobbying team worked closely with colleagues at the NC Academy of Family Physicians, the NC Pediatric Society, the NC College of Emergency Physicians, the NC Association of Physician Assistants, the NC Obstetrics and Gynecology Society and the NC Dermatology Association in order to secure the state appropriation that funds the FRP.

Need PPE? The NCMS Foundation also received a $5 million appropriation to purchase and distribute personal protective equipment (PPE) to independent practices. Even if you currently have adequate supplies, it makes sense to stockpile these products for future needs. Learn more and order your PPE today.

Leadership and Management Applications Due Nov. 13

The Kanof Institute for Physician Leadership (KIPL) is now accepting applications for the 2021 class of Health Care Leadership and Management (HCLM) scholars. This program provides a critical framework for clinicians based on economics, finance and leadership development. Graduates of this year-long course have the necessary vocabulary for the business realm and are equipped to take on greater leadership roles in their career.

The program, held during four weekend sessions spanning the year, will include an emphasis on deeper leadership development, and skills such as strategic planning, negotiation and financial literacy and application. HCLM is project-based and participants will have the opportunity to identify current and future needs and/or challenges and develop new and innovative solutions to address them. Learn more here.

Nov. 13 is the deadline to apply to be part of the HCLM class of 2021. If you are practicing in a rural area and/or is a current or past participant in the CPP-program, you may further be eligible for a scholarship.

Complete the application here.

Survey: Physician Practice Viability Threatened

A recent survey by the AMA found that the viability of physician practices remains under threat as the battle against the COVID-19 pandemic takes a new turn with record levels of cases being reported across the country. The national survey of 3500 physicians reveals that practices have been economically stressed by the public health crisis with a 32 percent average drop in revenue.

Administered from mid-July through August 2020, the results showed that 81 percent of physicians said their revenue was less than in February, before the public health emergency. More than one-third of physicians said that in-person patient visits decreased 50 percent or more. Despite increased telehealth visits, almost seven our of 10 respondents said they were providing fewer total visits (in-person and telehealth).

This decrease in volume was accompanied by an increase in expenses. Spending on PPE increased 50 percent or more for nearly two out of five medical practice owners, while 36 percent of physicians said that acquiring the PPE was very or extremely difficult, especially for smaller practices that lack purchasing power to compete with larger health systems.

Review all the survey results here.

In the News

No Winner for President Yet and Health Care Hangs in the Balance, Kaiser Health News, 11-4-20

Shalala Loses – and Other 2020 Election Results That Will Have Big Implications for Health and Science, STAT, 11-3-20

Election 2020: Trump and Biden’s Starkly Divergent Views on Healthcare, Healthcare Dive, 10-1-20

Learning Opportunity

The Accountable Care Learning Collaborative (ACLC) will be holding its CareAsOne Summit on Nov. 16-18. This virtual event provides an opportunity for health care visionaries to work together on health care’s most pressing problems and discover great opportunities. Experts will explore the future of health care and identify the roadblocks and strategies needed to champion an era of transformative change. Learn more and register here.

If you have policies you’d like your NCMS Board of Directors to consider, please complete the Board input form here. Thanks for reading!

 
 

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