Matt Searles, managing partner at Merritt Healthcare, spoke about the keys to transforming ASCs into a profitable business at the 9th Annual Orthopedic, Spine and Pain Management-Driven ASC Conference in Chicago on June 9.
Jim Freund, senior vice president of GENASCIS, was unable to deliver the presentation with Mr. Searles due to travel delays.
Mr. Searles said ASCs face numerous challenges, but to stay profitable, ASCs must understand their supply and staff costs, take the time to properly train staff, standardize supplies and concentrate on avoiding coding and compliance errors.
Monitoring supply and staff costs and reimbursement levels is vital to determining profit per case, he said. Surgery centers should also focus on physician recruitment to boost case volume and decrease risk involved with physician retirement or departure.
He recommended surgery centers look to other facilities in the community for operational best practices and cost-cutting ideas. "Have an intellectual curiosity and see what other people are doing with other ASCs," Mr. Searles said.
Related Articles on ASC Profitability:
Small Efforts Can Equal Big Rewards for ASCs
5 Factors That Heavily Influence ASC Value
10 Ways to Decrease Costs in an Orthopedic-Driven Surgery Center
Jim Freund, senior vice president of GENASCIS, was unable to deliver the presentation with Mr. Searles due to travel delays.
Mr. Searles said ASCs face numerous challenges, but to stay profitable, ASCs must understand their supply and staff costs, take the time to properly train staff, standardize supplies and concentrate on avoiding coding and compliance errors.
Monitoring supply and staff costs and reimbursement levels is vital to determining profit per case, he said. Surgery centers should also focus on physician recruitment to boost case volume and decrease risk involved with physician retirement or departure.
He recommended surgery centers look to other facilities in the community for operational best practices and cost-cutting ideas. "Have an intellectual curiosity and see what other people are doing with other ASCs," Mr. Searles said.
Related Articles on ASC Profitability:
Small Efforts Can Equal Big Rewards for ASCs
5 Factors That Heavily Influence ASC Value
10 Ways to Decrease Costs in an Orthopedic-Driven Surgery Center