Albany (N.Y.) Medical Center, Saratoga Hospital and an 18-physician group gained clearance for their surgery center development, Albany Business Review reports.
Six key points:
1. Under the name Capital Region North, the groups will jointly build and operate Saratoga Partners North, an ASC with six operating rooms devoted to orthopedic surgeries.
2. Construction is expected to cost about $8 million and wrap up by late 2020. The total project cost is about $19 million.
3. Saratoga Partners North is expected to complete 3,000 surgeries in its first year of operation, generating $754,000 in net income. Net income is projected to reach $1.37 million by the third year.
4. About 24 percent of the center's cases will come from Albany Medical Center and Saratoga Springs, N.Y.-based Saratoga Hospital, and about 35 percent of cases the ASC will take on are currently completed at a Saratoga Hospital extension clinic. The remaining 41 percent will shift to the ASC from office-based settings.
5. About 32 full-time-equivalent employees will staff the center by its third year in business. Orthopedic surgeon Jared Roberts, MD, will serve as medical director.
6. New York's public health and health planning council approved the project June 6. The ASC will be adjacent to Malta (N.Y.) Med Emergent Care, creating a destination for osteoarthritis treatment.