Changes in healthcare payment models and industry consolidation have far-reaching consequences — and Alaska is no exception. Anchorage-based Alaska Heart & Vascular Institute Administrator Cassy Kincaid told Becker's ASC Review how her practice operates in a changing industry:
Question: The healthcare industry has seen an increased number of mergers and acquisitions in the past couple years. How has this activity impacted the way your practice operates?
Cassy Kincaid: This has impacted our ability to get the supplies that we need more than anything else.
Q: Compared to hospitals or other facilities, what advantages and disadvantages do ASCs face in an increasingly consolidated market?
CK: The advantage is we are more cost effective and our processes are focused allowing us to streamline our services. The outcome is more patient contact and better quality and experience.
Q: With the industry moving toward value-based care, how can ASCs adjust supply chain strategies to improve efficiency?
CK: We belong to group purchasing organizations that allow us to buy at bulk pricing.
Q: What are strategies ASCs can implement to improve billing/collections?
CK: Our billing is in house and over the years we have realized this is the most efficient and patient centric process for us. We have tried outsourcing several times and found that we lost revenue opportunities and had more errors.
Q: What's one major challenge ASCs must overcome to thrive in a value-based care environment?
CK: The community and patients need to understand the value of ASCs for patient quality and affordability and push payers, including government payers, to use them more.
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