ASC administrators should pay close attention to industry trends that could affect cash flow and revenue, according to ASCENT, formerly known as the Association of Otolaryngology Administrators.
Three trends ASC leaders should watch:
1. Price transparency. Patients increasingly want to know prices for elective procedures upfront. ASCs should closely examine operational data and expenses to create a fair, customizable and transparent fee schedule.
2. New financing options. As patients assume more responsibility for increasing healthcare costs, practices are creating new payment options to ease the burden. ASCs should evaluate whether third-party costs associated with certain financing options are worth the risk.
3. Self-insurance arrangements. Rising healthcare premiums are cutting into employers' profit margins, leading some to contract directly with providers. ASCs could benefit from this type of arrangement, depending on their demographics and revenue trends.