Some of the Biggest PPP Loans in Virginia Went to Healthcare Companies and Doctors

These 11 companies collected between $5 million and $10 million from the federal government.

Virginia businesses and nonprofit organizations received between $9.5 billion and $18.2 billion through the Payroll Protection Program, according to new data released Monday. And it shows that professional services industry, healthcare providers, hotels, and restaurant groups were some of the biggest recipients of the loans in Virginia.

The program was designed to ease the impact of the coronavirus pandemic on businesses by providing loans. If businesses used the funding on rent, to avoid job losses or other eligible expenses, companies don’t have to pay them back.

Many hospitals and physician groups lost millions in revenue at the beginning of the pandemic when they had to stop performing elective surgeries. Below we review the 11 health care companies in Virginia that received the largest PPP loans according to the Small Business Administration, ranging from $5,000,000 to $10,000,000. 

Bayview Physician Services 

The Bayview Physician Group has been around since 1991 and serves the Hampton Roads area, including areas like Chesapeak, Franklin and Norfolk among others. Their medical group includes 263 providers and 65 outpatient care sites. 

Location: Chesapeake
Funding Received: $5,000,000 – $10,000,000
Reported Number of Jobs Retained: 330
Cost per Job Saved: $15,152 – $30,303
Type of Business: Corporation

EVMS Academic Physicians and Surgeons Health Services Foundation

Eastern Virginia Medical School Medical Group has more than 20 locations and offers a wide variety of services, including specialized patient care. Their 150 physicians are also full time faculty at EVMS and their students and residents often work in their practices.

Location: Norfolk
Funding Received: $5,000,000 – $10,000,000
Reported Number of Jobs Retained: Unreported
Cost Per Jobs Saved: Unknown
Type of Business: Nonprofit Organization 

Fairfax Radiological Consultants

Fairfax Radiology was founded in 1965 and says they are the largest private radiology practice in the Washington D.C. area. They have more than 80 sub-specialized radiologists, as well as outpatient imaging facilities throughout the region. Fairfax Radiology also works with hospitals in the area like Inova Fairfax, Inova Loudoun and Inova Fair Oaks.  

Location: Fairfax
Funding Received: $5,000,000 – $10,000,000
Reported Number of Jobs Retained: 90
Cost per Job Saved: $55,556 – $111,111
Type of Business: Corporation

OrthoVirginia Inc

OrthoVirginia employs more than 100 orthopedic specialists in 26 locations in Northern Virginia, Richmond, and Virginia Beach. According to their website, OrthoVirginia is the state’s largest provider of orthopedic medicine and therapy. 

Location: Richmond
Funding Received: $5,000,000 – $10,000,000
Reported Number of Jobs Retained: Unreported
Cost Per Jobs Saved: Unknown
Type of Business: Corporation

Tidewater Physicians Multispecialty Group

Tidewater, established in 1992, has over 220 primary care, specialty physicians and advanced practice clinicians that provide care in the southeastern Virginia region. 

Location: Newport News
Funding Received: $5,000,000 – $10,000,000
Reported Number of Jobs Retained: Unreported
Cost Per Jobs Saved: Unknown 
Type of Business: Corporation

Virginia Oncology Associates

This oncology and hematology medical group has been practicing for 35 years and says they are the largest practice of its kind in Virginia. They operate as part of the U.S. Oncology Network.

Location: Norfolk
Funding Received: $5,000,000 – $10,000,000
Reported Number of Jobs Retained: Unreported
Cost Per Job Saved: Unknown
Type of Business: Corporation

Loudoun Medical Group

Loudoun Medical Group has over 145 locations in Loudoun and surrounding counties. They employ more than 300 medical providers within 60 different medical specialties.

Location: Leesburg 
Funding Received: $5,000,000 – $10,000,000
Reported Number of Jobs Retained: 500
Cost per job saved: $10,000 – $20,000
Type of Business: Corporation

Virginia Family Dentistry

Virginia Family Dentistry was founded more than 40 years ago and includes 15 locations and 57 general dentists. According to their website, they employ more than 400 dental professionals and staff throughout central Virginia.

Location: Midlothian
Funding Received: $5,000,000 – $10,000,000
Reported Number of Jobs Retained: 393
Cost per Job Saved: $12,723 – $25,445
Type of Business: Subchapter S Corporation

NCGCare 

Created in 1993 NCGCare, (Northern Virginia Counseling Group) specializes in mental health, substance abuse and behavioral issues. According to their website, the medical group is the largest provider of community-based treatment services in Virginia.

Location: Richmond 
Funding Received: $5,000,000 – $10,000,000
Reported Number of Jobs Retained: 500
Cost per Job Saved: $10,000 – $20,000
Type of Business: Subchapter S Corporation

The Cardiovascular Group

Virginia Heart has been practicing for 30 years and employ more than 40 physicians. They have nine offices located around Northern Virginia have staff that operates out of seven local hospitals.

Location: Falls Church
Funding Received: $5,000,000 – $10,000,000
Reported Number of Jobs Retained: 355
Cost Per Job Saved: $14,085 – $28,169
Type of Business: Corporation

United Network For Organ Sharing

The United Network For Organ Sharing is a private, nonprofit organization that manages the U.S organ transplant system under a contract with the federal government. The network was created in 1977 as the South-Eastern Organ Procurement Foundation and was the first organization to use a computerized system to match organ donors with recipients. They have hundreds of specialists that for every step of the organ transplant process. 

Location: Richmond
Funding Received: $5,000,000 – $10,000,000
Reported Number of Jobs Retained: Unreported
Cost Per Job Saved: $14,085 – $28,169
Type of Business: Nonprofit Organization

The Medical Team Inc.

The Medical Team was established in 1978 and provides home care services through Medicare and Medicaid. The group provides services like hospice care and catastrophic care for patients with life-changing injuries or chronic disease. They also operate services in other states like Texas and Michigan.

Location: Reston
Funding Received: $5,000,000-$10,000,000
Reported Number of Jobs Retained: 500
Cost Per Job Saved: $10,000 – $20,000
Type of Business: Subchapter S Corporation

Community Residences Inc.

Community Residences provides personalized resources for people with disabilities and mental health needs. They have been serving communities in Virginia for 45 years with individualized support, day programs and residential services. 

Location: Chantilly
Funding Received: $5,000,000-$10,000,000 
Reported Number of Jobs Retained: 500
Cost Per Job Saved: $10,000 – $20,000
Type of Business: Nonprofit

UPDATE (7/10): This article has been updated. A previous version incorrectly listed Virginia Cardiovascular Specialists as part of The Cardiovascular Group.