Chip & Paulie Webinar 1 (March 20, 2020)
Chip & Paulie Webinar 1 (March 20, 2020)
Paulie Vanchiere and Chip Hart discussed navigating the challenges of the COVID-19 pandemic, focusing on areas such as financial management, patient care, and telemedicine. They emphasized the importance of leadership, communication, and flexibility, advising practices to get lines of credit, utilize telemedicine, and maintain essential services like well visits and ADHD follow-ups through virtual means when necessary. The session concluded with guidance on managing staff and expenses, exploring SBA loans, and leveraging community resources for better practice management during the crisis.
Based on the two-hour webinar and discussion involving Pediatric Management Institute's Paulie Vanchiere and PCC's Chip Hart, here are the summarized key points:
1. **Impact of COVID-19 on Practices**: Practices are experiencing a decline in visit volumes due to COVID-19, especially in sick visits, which impacts overall revenue.
2. **Importance of Telemedicine**: Telemedicine adoption is crucial. Practices should start billing for telemedicine, phone calls, and portal exchanges to maintain revenue streams.
3. **Managing Cash Flow**: Practices should expedite billing, consider lines of credit, negotiate with landlords, and cut discretionary expenses, including slowing down vaccine orders.
4. **Staffing and Scheduling**: Practices need to manage and protect staff efficiently. Consider rotating schedules, remote work options for administration, and identifying high-risk employees.
5. **Leadership and Communication**: Effective and open communication with staff, partners, and patients is essential. Honest and transparent discussions about financial realities and expectations are necessary.
6. **Regulatory and Financial Assistance**: Practices should look into Small Business Administration (SBA) loans and further assistance programs. Keep up with federal and state guidance on labor laws and small business support.
7. **Maintaining Patient Care**: Prioritize critical well-visits, especially vaccinations for children under two. Look into creative solutions, such as precise patient recalls and potential house calls where feasible.
8. **Adapting Practice Operations**: Practices might need to consolidate offices, reallocate responsibilities among partners, and prepare for possible changes in revenue structures. Employ flexible visit strategies, such as car-side evaluations.
9. **Documentation and Legal Compliance**: Practices should ensure proper coding for all services and telemedicine. Track any new conditions under FMLA as per the latest federal laws for credits and deductions.
10. **Future Preparedness**: Be ready for possible patient volume surges post-pandemic due to backlog care and potential baby booms. Utilize technology and ongoing support from professional societies like SOAP and PMI for guidance and network support.
Remember, the core takeaway emphasized is the need for flexibility, adaptability, and maintaining robust communication to navigate through the challenges presented by COVID-19.
