PAUL WISEMAN and JOYCE M. ROSENBERG
AP Business Writers
WASHINGTON (AP) — In the coronavirus crisis, even doctors can face a cash crunch.
Dr. Benjamin Ticho, an ophthalmologist in Chicago Ridge, Illinois, has seen his revenue plunge 80% as patients stay home and he cancels non-emergency surgeries. He's cut his staff's hours sharply and is negotiating with his creditors.
"We've reached out to many of our bigger vendors and said, 'Hey, we may be facing a cash crunch — can you give us a break, or at least defer payments?' Many have been sympathetic," said Ticho, who owes loans on medical equipment. He's giving his patients a break, too, by holding off for now on collecting their unpaid balances.
The record $2.2 trillion emergency relief package that Congress gave final approval to F