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| 10 Valuation Facts and Statistics for ASCs; Four in Five ASCs Not Using Electronic Health Records; Feds Join Ohio Lawsuit Alleging Kickbacks for Referrals
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1. 10 Valuation Facts and Statistics for ASCs. Valuation multiples for ASCs were higher than ever in 2007, and orthopedics, ENT, ophthalmology and general surgery are the most desirable specialties, among other findings, according to the 2008 ASC Valuation Survey by HealthCare Appraisers. Thirteen management partners representing more than 300 ASCs nationwide participated in the survey. Go here for the complete story. For access to the current and past valuation surveys, go here.
For a complete profile of HealthCare Appraisers, go here. For more information on the survey, e-mail Todd Mello or e-mail Curtis Bernstein.
2. Federal Government Joins Ohio Lawsuit Alleging Kickbacks for Referrals. The federal government is joining a federal whistleblower lawsuit filed against Ohio facilities The Christ Hospital, The Health Alliance of Greater Cincinnati and The Ohio Heart and Vascular Center, which are accused of defrauding federal health care programs by providing improper financial kickbacks to cardiologists, according to the Department of Justice. Go here for the complete story.
3. Survey: Four in Five ASCs Not Using Electronic Health Records. ASCs continue to face challenges, yet appear to see promise, in the adoption of electronic documentation. According to an independent national survey of ASC administrators, 82 percent of ASCs do not use an electronic health record (EHR), 85 percent use paper perioperative notes, and 74 percent use dictation and transcription for the generation of physician procedure notes. Go here for the complete story.
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| Congressman, Orthopedic Surgeon to Speak at Orthopedics, Pain Management and Spine Driven ASC Conference -- 20 Days Left to Register Early
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We are delighted to announce that Dr. Tom Price, a U.S. congressman and orthopedic surgeon, has again agreed to address the 6th Annual Orthopedics, Pain Management and Spine Driven ASC Conference: Improving Profits, Legal and Business Issues, to be held June 19 to 21 in Chicago. Dr. Price is a terrific supporter of ASCs.
We will also have outstanding speakers from physician and leadership perspectives. For example, Brian Cole, MD, one of the leading orthopedic surgeons in the country, will speak regarding the clinical future of orthopedics. Others such as Tom Lorish, MD, of the Providence Health System, will speak on joint-ventures; other leaders will speak on handling complex procedures in ASCs as well as on spine and pain management. All in all, there are almost 70 sessions scheduled. We've now added 30 more hotel rooms a night to our block to accommodate interest.
Here are some quick facts and highlights about the conference:
- improving profits and business and legal issues
- 70-plus speakers focused on strategic, practical, business and legal topics for ASCs
- Michigan Avenue site
- program agenda and event brochure -- www.BeckersASC.com
- carefully selected topics to help you and your center immediately
- networking with 500 owners, surgeons, administrators, exhibitors and speakers
- keynote presentation on the election and healthcare by Tucker Carlson
- outstanding pre-conference sessions
- CME, CEU and CASC credits available
- register before May 1 and save $100
- additional discounts apply when registering two or more attendees
- discounts for paid subscribers to the Becker's ASC Review
There are four easy ways to register:
- Online. Register through our secure Web site.
- Fax. Complete the order form and fax it to (312) 706-2526. Please show ASC Communications c/o a5 as the subject line.
- Mail. Complete the order form and mail it to ASC Communications; c/o a5 Inc.; 1 N. LaSalle Street, 47th Floor; Chicago IL 60602.
- Phone. Call (312) 546-6042 to register.
If you are a paid subscriber to the ASC Review, deduct $100 from the registration price.
Eight exhibit spots remain. If you are interested in exhibiting, contact Jessica Cole or Dan Bragaw.
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| Non-Profit Hospitals Out-Earning For-Profits; Response to Referral Patterns Study: ASCs Strengthen Funding Sources for Safety-Net Hospitals; Novartis Takes First Step Toward Majority Ownership in Alcon Boost
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1. Non-Profit Hospitals Out-Earning For-Profits. Thanks to large tax breaks, "riding the gains from investment portfolios and enjoying the pricing power that came from a decade of mergers," non-profit hospitals, which make up the majority of U.S. hospitals, are largely and significantly outperforming for-profit hospitals, reports the Wall Street Journal in its April 4 edition. Go here for the complete story.
2. Response to ASC Referral Patterns Study: ASCs Strengthen Funding Sources for Safety-Net Hospitals. A study published in the March 18 Health Affairs that claims that physician-owned ASCs siphon referrals of commercially insured patients from HOPDs merits further analysis of its data and conclusions, says health industry consultant Craig Jeffries, Esq., in a letter to the journal. Go here for the complete story.
3. Novartis Takes First Step Toward Majority Ownership in Alcon. Further strengthening its healthcare portfolio, Novartis will acquire a 25 percent stake in Alcon from Nestle with the right to take over majority ownership of the world leader in ophthalmic surgical supplies and equipment, the companies announced April 7. Go here for the complete story.
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| Bank of America's ASC Lending Strong; Amkai Adds Two; PMG Aqcuires MEDIBIS
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Bank of America's ASC Lending Remains Strong. With the current credit crunch and resultant fallout in the finance space, many players in financing in general are experiencing challenges. Meanwhile, Bank of America continues to finance many of the major developers in the ASC market. "Over the past months, we have financed a great number of projects," says Terry R. Gill, senior vice president, Bank of America Leasing. "With a veteran credit team in place, and a lot of money to loan out, we can likely provide a solution to an ASC looking at alternative finance sources that will meet its needs."
Amkai Adds Two to Its Rapidly Growing Services. Amkai has added Mike Wynia as an account representative for California, Arizona and Nevada, and Paul Simon as an account representative for Georgia, Florida and Alabama. Mr. Wynia has 10 years' experience in the medical device field working with ASCs and hospitals. Mr. Simon has almost 20 years' experience, most recently working in mobile computing solutions for ASCs, hospitals and other organizations. E-mail Mr. Wynia or call him at (866) 265-2434 x. 311; e-mail Mr. Simon or call him at (866) 265-2434 x. 310.
MEDIBIS Acquired by PMG Partners. PMG Partners has acquired MEDIBIS, a provider of Internet-based advanced reporting, analysis and benchmarking software designed for ASCs. PMG Partners is a portfolio company of Bertram Capital. Financial terms of the deal were not disclosed.
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| Four Events from ASC Communications; Four Issues from Becker's ASC Review; Meridian Seeks Manager of Revenue Cycle; Free ASC Turnarounds Teleconference; Welcome, Matt Leemkuil, to ASC Communications
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1. Four Upcoming Events from ASC Communications. We are offering a wide variety of high-quality events to help ASCs enhance operations.
- Orthopedic, Spine and Pain Management Driven ASC Conference -- June 19 to 21 in Chicago. Click here to register or call (800) 417-2035 for more information.
- ASC Communications and the ASC Association Present: Improving Profitability and Business and Legal Issues for ASCs -- Oct. 23 to 25 in Chicago. Click here for the exhibitor/sponsor prospectus. Agenda coming in May.
- Managed Care Contracting for ASCs -- Trends and Tactics to Maximize Reimbursement. Caryl Serbin and Naya Kehayes will present this May 2008 audioconference. Click here to register, or call (800) 417-2035 for sponsorship information.
- Orthopedic Coding for ASCs. Stephanie Ellis will present this June 2008, audioconference. Click here to register, or call (800) 417-2035 for sponsorship information.
2. Four Upcoming Issues From Becker's ASC Review. The editorial lineups for regular and new upcoming special issues have been announced.
- The May/June ASC Review will feature orthopedic, spine and anesthesia clinical and business issues.
- The July/Aug. ASC Review will feature several articles on ophthalmology and ENT for ASCs, and 60 People to Know in the ASC Industry.
- The initial 12-page issue of "The Hospital Review -- Business and Legal Issues for Hospitals and Health Systems" is coming in September and will be distributed to 12,000 people.
- Our first ASC Review special issue, "Surgical Products and Devices for ASCs," will also be 12 pages and distributed to 12,000 people (including every ASC in the country) in September.
3. Free teleconference on ASC turnarounds April 30. On April 30, McGuireWoods will host a complimentary teleconference, "10 Keys to Turning Around Financially Troubled Ambulatory Surgery Centers: A Case Study Approach." Brent W. Lambert, MD, FACS, a principal and founder of ASCOA and Thomas Mallon, the CEO of Regent Surgical Health, will discuss the primary points to consider when turning around an ASC, including operations, management teams and physician participation. Moderated by Scott Becker, JD, CPA, the teleconference will begin at 11:30 a.m. Central and conclude at 12:45 p.m. Central. To register, please go here or e-mail Andrea Green or call her at (312) 750-8896.
4. Welcome, Matt Leemkuil. ASC Communications is pleased to announce the outstanding addition of Matt Leemkuil, formerly of AAASC, to its sales team. Matt will be part of our efforts to expand advertising, sponsorship and exhibitor opportunities. Please feel free to welcome him at matt@beckersasc.com or (423) 943-5682.
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Acclarent; Affinity Insurance Services; Alpine Surgical Equipment; AMB Development Group; Surgical Notes; ASCs Inc.; Ambulatory Surgery Centers of America
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We are delighted to highlight the following companies in this week's E-Weekly. For more information and a full list of ASC resources, go here.
1. Acclarent. Acclarent is dedicated to developing innovative solutions for ENT specialists and their patients. The company's initial focus has been on achieving the goals of sinus surgery with novel, endoscopic, catheter-based tools known as Balloon Sinuplasty devices. For a complete company profile, go here; or, for more information, call (877) 775-2789 or (650) 687.5888 or e-mail Acclarent.
2. Affinity Insurance Services.Affinity Insurance Services is a part of Aon Corporation, a Fortune 250 Corporation. As the No. 1 global insurance broker, we have market presence and carrier relationships unmatched by smaller brokers to ensure you the best coverage for the most reasonable cost. For a complete profile, go here; or, for more information, see a list of Affinity's A.M. Best "A" Rated professional and general liability carriers.
3. Alpine Surgical Equipment. Alpine Surgical Equipment's team of professionals has worked on well over 750 surgery centers nationally, and has worked extensively with the industry's leading corporations, surgery center development, equipment planning and consulting firms. For a complete company profile, go here; or, for more information, contact Matt Sweitzer at 916-933-2863 or visit Alpine Surgical on the Web.
4. AMB Development Group. AMB Development Group specializes exclusively in the development of ambulatory care facilities nationwide, including surgery centers, medical office buildings, clinics, imaging centers and outpatient centers. For a complete profile, go here; or e-mail Jack Amormino, call him at (800) 779-4420, or visit AMB online for more information.
5. Surgical Notes. A preeminent nationwide provider of medical transcription, coding and other related value-added information technology services for the ASC market, Surgical Notes provides transcription, coding and practice management solutions to over 420 surgery centers and 6,300 physicians in over 40 states. For a complete profile, go here; or, for more information, visit Surgical Notes online.
6. ASCs Inc. Physician-owners of ASCs who are seeking a sale of their center, an exit strategy, improved management, resyndication and recruitment of new physicians, or expansion of their centers will benefit from a strategic relationship with a corporate partner. ASCs Inc. helps the physicians find the best long-term partner and the highest negotiated price. For a complete profile, go here; or, for more information, contact Jon Vick, president, at 760-751-0250 or visit the company's Web site.
7. Ambulatory Surgery Centers of America. ASCOA (Ambulatory Surgical Centers of America) is a leader in the surgery center industry, achieving exceptional quality of care and outstanding financial results. For a complete profile, go here; or, for more information, visit ASCOA online.
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| Becker's ASC Review Paid Subscribers
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Beckers ASC Review paid subscriptions. If you are a Becker's ASC Review paid subscriber, you are entitled to the following benefits:
- Copy of each issue delivered to your mailbox.
- Discounts on the cost of audioconference and Webinar registrations.
- $100 off registration for both main and pre-conference sessions at the June conference.
- $50 off registration for both main and pre-conference sessions at the October conference.
- Free copy of the VMG Health Intellimarker benchmarking survey, an extremely valuable guide.
To subscribe to the Becker's ASC Review go to www.BeckersASC.com.
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