At Becker's ASC Meeting in Chicago on Oct. 23, several industry experts provided tips for helping an ASC achieve success by keeping owners engaged.
1. Keep owners involved. ASC owners need to know the ins and outs of what is happening on a daily basis at the surgery center. "Keeping them engaged means keeping them involved," said Gary Richberg, RN, administrator of Pacific Rim Outpatient Surgery Center in Bellingham, Wash. The more information the owners have "the more they want to jump in" because they're invested, said Margaret Adams, administrator of Riddle Surger yCenter in Media, Pa.
2. Stay profitable. "Make the surgery center as profitable as possible," said Larry Taylor, president and CEO of Practice Partners in Healthcare in Birmingham, Ala. If owners receive a big check they are going to be more engaged going forward.
Mr. Richberg noted it's important to make sure the owners understand healthcare is a business. "I really stress profit to my surgeons," he said.
3. Consider equal ownership. To keep all owners engaged, "equal ownership is the best route," said Thomas Bombardier, MD, founding principle of Ambulatory Surgical Centers of America. He said ASCOA tries not to offer different tiers of ownership for that reason.
Mr. Richberg noted sometimes a surgeon can have a lot shares and be really engaged. However, sometimes the opposite can happen, and a surgeon with a lot of shares isn't pulling their weight.