Second round of PPP funds are being distributed?



Yesterday, while reviewing the business checking account, there was  an unaccounted deposit. I then noticed that our PPP loan funding had been electronically deposited in our commercial checking account. (ETC) This was  great news, since as the Corona Virus numbers have worsened in December and January, the numbers of patients booking appointments have lessened to the point where the office  currently less than 50% busy. While some of my colleagues claim to be seeing around 80% of their normal appointments, it is hard to believe, since the general public has been staying home and minimizing their time outside of their homes. 

For the moment, most dentists are treading water" . While  not loosing money, their practices may not be generating enough to cover all of their personal expenses.  These PPP funds will definitely help.

In addition, most are  loathe to furlough staff or significantly decrease their hours, since they are not only like family, but most have a wealth of dental expertise. If their hours are cut, there is a greater likelihood that they will be forced to seek employment elsewhere. Some colleagues who have taken a different approach are currently are having difficulty finding qualified staff to help them.

 PPP funds  can be used to fund payroll and some rent or the next 80 days and hopefully by spring,  dental practices numbers will improve. I should add that even though  appointment numbers are down, some  patients are requesting more "elective" procedures such as whitening procedures (Online Zoom sessions lead to Dental Zoom sessions because people have been forced to stare at their smiles) and fabrication of hard night guards ( Yes, there has been an increase of patients breaking teeth or showing up with TMD symptoms).

Most patients have been impressed with the precautions dentists have taken and feel safe. Also, probably since many New Yorkers  have been relatively isolated, many have commented that they have enjoyed their dental visits. Many patients are over 50 and hopefully as they get vaccinated they will return in greater numbers. In the meantime, the PPP loan funds will ensure that dentists  should be able to keep thier staff and office hours at normal levels. If you haven't seen a dentist recently due to covid concerns you will likely be both safe and welcome at your dentist's office.




from Ask Dr. Spindel - http://lspindelnycdds.blogspot.com/2021/02/second-round-of-ppp-funds-are-being.html - http://lspindelnycdds.blogspot.com/

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