Financial support for dermatologists
Loans available to dermatologists
Visit your local FDIC-approved bank, credit union, or Small Business Administration (SBA) lender and fill out an application for paycheck protection. This program allows you to receive a forgivable loan to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8-week period after the loan is made.
Apply for an economic injury disaster loan from the Small Business Administration.
Apply for an express bridge loan. These loans are up to $25,000 and processed quicker than an economic injury disaster loan.
If you are having trouble receiving approval for a loan, please contact your state representative for assistance. Visit our Legislator Search Tool to find your representative and contact information.
How to survive through the crisis: Unpacking the CARES Act webinar
Legal and business experts discussed federal actions that matter to dermatologists during the pandemic, including expanded paid leave benefits for staff and the Paycheck Protection Program, during a live webinar on April 27, 2020. Watch it on-demand now!
Medicare relief for dermatologists
Additional financial relief is available to dermatologists who accept Medicare Part B payment. Two rounds of funding have been released and additional information on applying is available at the Academy's Medicare Relief Funding page.
The Medicare sequester has also been temporarily suspended between May 1 and Dec. 31, 2020. The suspension of the sequester will help boost Medicare payments to physicians by approximately 2% in 2020.
In addition to CMS regulatory changes, other changes announced by the federal government in response to the COVID-19 pandemic appear below.
Medicare sequester suspended
By direction of the CARES Act, which passed on March 27, the Medicare sequester has been temporarily suspended between May 1 and Dec. 31, 2020. The suspension of the sequester will help boost Medicare payments to physicians by approximately 2% in 2020.
Other regulatory updates
Access information on CMS updates to MIPS and the Quality Payment Program.
Review important information on relaxed requirements for teledermatology during the pandemic.
Review FDA guidance on the conduct on clinical trials during the COVID-19 outbreak.
Review Academy resources on tax credits available to practices during the CODID-19 pandemic.
Additional COVID-19 business management resources
All content solely developed by the American Academy of Dermatology