ASCs are in a strong position amid the industry shift to value-based care, but for some, a lack of comprehensive data is holding them back.
Arjun Gangakhedkar, a real estate and financial specialist for newly formed ASC chain Ker Medical and a principal at QHM Partners, joined Becker's to discuss why harnessing data is key to ensuring long-term growth amid this shift.
"The healthcare industry generates a huge amount of data — around 30% of all global data annually," Mr. Gangakhedkar said. "Independent ASCs can use this data to track key performance indicators, operational efficiency and resource utilization."
This data can allow ASCs to monitor metrics like operating room turnover, revenue-per-case and clinical outcomes, which are becoming even more important as the industry shifts to value-based care, he added.
While investing in data access can be substantial, it is essential for maximizing ASC success.
"Data creates value, especially if a practice wants to sell in the future," Mr. Gangakhedkar said. "Ideally, physicians would have a dashboard of KPIs covering operational, financial and clinical aspects."
Smaller, independent ASCs often have data stored across multiple systems, which makes analysis difficult.
At Ker Medical, Mr. Gangakhedkar leads efforts to create a centralized data warehouse for the ASCs they manage, facilitating benchmarking and comparisons across facilities.
He also emphasized the importance of data in real estate decisions.
"When choosing a partner, it’s important they take a data-driven approach," he said. "They should assess payer mix, lease rates and financial feasibility. Looking at both the property and operating aspects separately and together is essential for long-term success."