■ Accounting , Banking & Law
Continued From Page 46 theme has been the negative impact of the disruption to elective procedures and visits that occurred in 2Q20 . This impacted our healthcare provider clients as well as the entire supply chain of services and products supporting those elective ( or deferrable ) cases . As a result , many clients faced short-term liquidity needs and / or constraints due to financial covenants . To assist our clients , we brought the full range of options to bear , including using our own balance sheet capital , assistance with amendments to their credit facilities , as well as arranging access to alternative ( typically more flexible ) capital sources , including the Convertible and Senior Notes markets . Fortunately , the majority of our clients have experienced a “ v-shaped ” recovery , with volumes returning to near-normal levels
Many healthcare facilities are experiencing a " v-shaped " recovery .
Getty Images / iStockphoto in 2H20 . Nevertheless , for clients who came into the crisis with elevated leverage or limited liquidity , 2020 served as a wake-up call regarding the importance and value of maintaining the sufficient liquidity and appropriate covenant flexibility on an ongoing basis .
LAW
“ The introduction of the aggressive use of telehealth and telemedicine has been a huge benefit to patients and providers .”
Brach Eichler LLC By John D . Fanburg , Esq ., Managing Member and Healthcare Law Chair
Healthcare providers , during the current COVID‐19 pandemic , must be able to pivot appropriately and professionally to provide necessary healthcare services to their patients and , at the same time , institute protocols to provide a safe
environment for their patients and valued employees . The introduction of the aggressive use of telehealth and telemedicine has been a huge benefit to patients and providers . As we see more of its use , patients will become more comfortable and adept at embracing this plan of healthcare treatment . From a business perspective , medical practices must continue to watch their overhead and at the same time invest strategically in technology to provide services to their patients . It is always important for medical practices to evaluate their business options , whether it means aligning with a healthcare system or with a larger single- or multi-specialty group . Wall Street options continue to exist and their expansion into healthcare continues . The COVID‐19 pandemic has not diminished their grab for medical practices .
Connell Foley LLP By William Castner , Esq ., Partner , Health Care Group
It is truer than ever that government is a silent partner in many healthcare businesses . So for a number of our clients , COVID‐19 has meant a steady shift from basically keeping an eye on federal , state and local regulatory decision-making to now-daily and sometimes hourly monitoring of governmental actions that are
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