Regent Surgical Health inked a partnership with Universal Health Services, a 354-hospital chain with facilities across the U.S., to build and operate ASCs.
Four things to know:
1. The joint venture will expand UHS' ambulatory capabilities. The King of Prussia, Pa.-based health system has 40 outpatient facilities and ambulatory access points currently and the partnership will accelerate expansion.
2. Regent Surgical Health currently owns or operates 26 ASCs, with 21 being hospital joint ventures and 14 including total joint replacements. It has 600 credentialed surgeons who perform 70,000 procedures each year.
3. Together, Regent and UHS aim to develop a "transformative ambulatory strategy" that will deliver both quality care and bottom-line results.
4. Regent will bring its best practices for staff recruitment and retention, training, physician recruitment and surgeon and patient satisfaction to the partnership. The company also has experience in clinical oversight, payer contracting, supply chain, revenue cycle, case costing and marketing.
"We continually innovate and enhance the ASC model to ensure success in the changing healthcare market conditions," states Chris Bishop, CEO of Regent. "Our operating model has realized material increase in both patient and surgeon satisfaction scores, due in large part to improved efficiency of operations and clinical focus."