ASC Turnarounds: Ideas to Improve Performance
De Novo ASC Downfalls: Q&A With Buddy Bacon of Meridian Surgical Partners
Buddy Bacon is CEO of Meridian Surgical Partners.
Q: What are some critical mistakes you have seen ruin a de novo ASC?
Buddy Bacon: The most critical mistake related to a de novo is unrealistic financial projections. If you take a very conservative approach to budgeting a project, you can move forward with the confidence of knowing the scope is driven by accurate data. For example, too many financial forecasts are built with the attitude of "if we build it, they will come." Base your financial projections on the physicians that are committed to the project and the cases they can realistically transfer to the ASC. If the project is viable at that point, then you can move forward to syndication, with a strong sense of confidence.
Also, make sure not to overbuild the facility. The best way to avoid doing this is to let the case volume drive the scope of the project. Depending on the specialty mix, an efficient and effective ASC can perform in an 8,500-square-foot facility.
Learn more about Meridian Surgical Partners.
Learn more from Meridian Surgical Partners:
- 12 Statistics and Financial Figures to Analyze Weekly and Share With Physicians
- How to Keep Business Staff Productive
- Two Common Managed Care Negotiation Mistakes
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