Collecting and analyzing metrics is vital to surgery center viability, according to OR Manager.
Surgical Information Systems Chief Nursing Officer Ann Geier, RN, shared nine of the most important financial metrics to track and the gold standards for each:
1. EBITDA
Less than $3 million net revenue: 12.8 percent
Greater than $9 million net revenue: 37.3 percent
2. Case volume
Industry average: 19.4 cases per day
Average: 4.4 surgical cases per operating room per day (number of cases will vary based on case mix)
3. Efficiency/throughput
Turnover time: Less than 7 minutes for short routine cases (e.g., cataracts, GI, pain management)
Turnover time: Less than 10 minutes for equipment-intensive cases and those with complicated setups (e.g., spine, shoulder arthroscopies)
4. Collections
Denial rates: Less than 5 percent, ideally 1 to 2 percent
5. Accounts receivable days
Less than 30 days
6. Accounts receivable current
Amount current should be 72 percent
7. Supplies
Drugs and medical supplies: $456
Supplies as percent of collections: 21.6 percent
8. Payroll
Staffing cost per case: $426.02
Staffing as percent of collections: 23.5 percent
Mean hours per case: 14.4 hours, including nurses, technicians and administrative staff
9. Patient satisfaction surveys
Rate of return: 34 percent
Scores: High 90s
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