At the 18th Annual Ambulatory Surgery Centers Conference in Chicago on Oct. 29t, a panel of experts discussed how to figure payments for outstanding surgery center administrators, medical directors and nursing directors. The panel included Partner and Managing Director of Kaye/Bassman Greg Zoch, NJSR Surgical Center Administrator Christopher Collins, Jr., RN, BSHCS, founder of The Physician’s Advocate and Texas ASC Society Woodrow “Woody” M. Moore and Vice President of Development and Operations of Symbion Danny E. Bundren, CPA, JD, and was moderated by Becker’s ASC Review Managing Editor Rachel Fields.
The appropriate salary for surgery center administrators depends on several factors, including the amount of oversight they have, functions they perform and experience in the field. Location and whether the ASC is single- or multispecialty also play into the appropriate salary, which for an outstanding administrator could be $90,000-$150,000. While base salary is a good place to start, the panel members agreed that raises and bonuses were an important part of maintaining excellent administrators.
According to the panel, the best administrators:
· Have both clinical and business backgrounds
· Experience with coding
· Advanced degrees
· Good interpersonal skills
The panel also discussed offering raises and bonuses during today’s tough economic situation, when some ASCs are struggling. While the ASC might be losing money now, foregoing a raise or bonus could send staff members and administrators the wrong message: that you aren’t happy with their work. Consider explaining the situation and offering what extra compensation is available now, because keeping them around in the long run is often worth it.
The panel discussed how each group measured salary and bonuses. Mr. Bundren said Symbion encourages ASCs to give administrators up to 20 percent of their salary for their bonus. The bonus is based on several factors, including EBIDTA compared to the prior year, EBIDTA compared to budget, budgeted cases, net accounts receivable for cases and quality of outcomes.
Related Articles on ASCs:
Central Piedmont Surgery Center to Open in North Carolina Next Week
7 Traits to Make Your Surgery Center More Attractive to Physicians
What are the Most Common Surgery Center Subspecialties?
The appropriate salary for surgery center administrators depends on several factors, including the amount of oversight they have, functions they perform and experience in the field. Location and whether the ASC is single- or multispecialty also play into the appropriate salary, which for an outstanding administrator could be $90,000-$150,000. While base salary is a good place to start, the panel members agreed that raises and bonuses were an important part of maintaining excellent administrators.
According to the panel, the best administrators:
· Have both clinical and business backgrounds
· Experience with coding
· Advanced degrees
· Good interpersonal skills
The panel also discussed offering raises and bonuses during today’s tough economic situation, when some ASCs are struggling. While the ASC might be losing money now, foregoing a raise or bonus could send staff members and administrators the wrong message: that you aren’t happy with their work. Consider explaining the situation and offering what extra compensation is available now, because keeping them around in the long run is often worth it.
The panel discussed how each group measured salary and bonuses. Mr. Bundren said Symbion encourages ASCs to give administrators up to 20 percent of their salary for their bonus. The bonus is based on several factors, including EBIDTA compared to the prior year, EBIDTA compared to budget, budgeted cases, net accounts receivable for cases and quality of outcomes.
Related Articles on ASCs:
Central Piedmont Surgery Center to Open in North Carolina Next Week
7 Traits to Make Your Surgery Center More Attractive to Physicians
What are the Most Common Surgery Center Subspecialties?