At the 21st Annual Becker's ASC Conference in Chicago on Oct. 24, a panel of healthcare industry experts discussed a few of the best ways to impact revenue and profitability in today's every-changing GI endoscopy market.
The panel consisted of Frank J. Chapman, MBA, COO of Ohio Gastroenterology Group in Dublin; Arif Aziz, MD, Managing Partner of the Atlanta-based GI Specialists of Georgia; and Kurt R. Cannon, Vice President of the Endoscopy Division of Hanover Park, Ill.-based FUJIFILM Medical Systems USA.
All three panelists expressed the absolute necessity of improving revenue and profitability in order to stay afloat and prosper in the GI endoscopy market but each emphasized different methods of doing so.
For Mr. Chapman, utilizing physicians and staff to their best ability is a must. "Your organization should be operating at the bottom of its cost curve and your staff should be operating at the tops of their license," he said.
He also said ASCs should consider partnering with primary care physicians who do office-space surgeries that don't require sterile environments, such as urologists, to increase revenue and profitability.
As a FUJIFILM representative, Mr. Cannon highlighted the necessity of ASC relationships with vendors to avoid overpaying for supplies, instruments and other health products.
"As a manufacturer, we don't know how to take care of patients, our job is to take care of healthcare providers so they can take care of patients," said Mr. Cannon.
According to Mr. Cannon, improving revenue and profitability happens when providers communicate with vendors about their goals and what they want to accomplish so they can find vendors whose goals align.
"Good vendors are there and you don't even know they're there," said Mr. Cannon. "The simplest thing a vendor can do is provide great products and get out of the way of the physicians."
Dr. Aziz also touched on the importance of vendor relationships and how to get physicians on board when products are changed for the sake of cost.
"Physicians aren't opposed to change, they just need to know that a product change is for the best,” said Dr. Azis. “As a vendor, you have to gain a physician’s trust.”
Another solution Dr. Aziz offered to improve an ASC's bottom line is dedicating a staff member to focus entirely on health IT issues.