Dental Practice Recovery from SARS-CoV2 and Future Preparedness
Supporting spreadsheet, legal handout & course recording from May 12th webinar on Practice Recovery
This webinar was an off-the-record conversation hosted by EOI-NYC. Its target audience was New York City’s licensed dentists. Views presented here are those of the speakers and not EOI-NYC.
Legal information from Attorney Felicia Ennis:
My take home message from Felicia’s presentation was to plan to protect your staff not only from the novel coronavirus, but also to protect them from financial uncertainty. She laid out the laws (legal tools) that are meant to guide employers on how to help their staff get some financial security. Using the available legal tools, she helped clarify how you can cut the staff overhead in your practice to appropriate levels necessitated by your business plan as we start to enter the recovery phase. One can use the Unemployment Insurance Benefits as a supplement to staff’s loss of income due to under-employment. There were a couple of unemployment insurance benefits discussed by Ms. Ennis. The additional tools will give your staff a bit of financial security in these uncertain times while help shore up the solvency of your practice. She reminded us to roll out our reemployment plans in a manner that is fair to all our staff members. She clarified the law’s requirements on the subject.
Ms Ennis talked about the requirement of having a written plan before opening practices.
Ms Ennis wrote a manuscript for our group. Download Ms. Felicia Ennis’ document here: Reopening The Workplace – Keys To A Successful Return-to-work Business Plan
You can also reach her directly at
Ms. Felicia Ennis
Warshaw Burstein, LLP
575 Lexington Avenue, 7th Fl.
New York, NY 10022
www.wbny.com
Telephone: 212-984-7753
Email: Fennis at wbny dot com
Seminar’s Video recording:
If you would wish to go back to segments of last week’s webinar, you can do so by following this link.
SBDC’s documentation:
Small Business Development Center just released their useful Cash Flow Year worksheet and the slides of their presentation with links to additional resources. They also indicated that you can use the this form in order to contact them for help with any financial resources and tools.
How to use the spreadsheet:
- Use the spreadsheet to project your financial need for the coming year for both optimistic and pessimistic scenarios.
- Arrange for financial backup plans based on your projections, in the event of both a future downturn or arrival of a business opportunity. Make sure financially you are prepared.
If anyone would like to discuss one-on-one with an advisor on SBDC team for further assistance, they may send the completed & signed Counseling form to SBDC@csi.cuny.edu. From there, SBDC will assign you to an advisor and will coordinate a virtual appointment. The Counseling form can be found here.
Joseph Bottega
Megan Baran
2800 Victory Blvd Bldg 3A-105
Staten Island, NY 10314
Phone: 718-982-2560
Email: sbdc at csi.cuny dot edu