Q: What impact is the economy having on ASCs?
Caryl Serbin: Patients are choosing to have less elective surgeries. There has also been an increase in patient requests for payment plans, lower fees, etc.
Q: What is the most important thing an ASC can do in 2009 to preserve profits?
CS: Analyze your billing practices (such as acceptance of denials and errors with no pursuit). Also, consider outsourcing coding, billing and A/R management to experts.
Q: Are there opportunities in the ASC market now?
CS: There are a few opportunities in the market. Most involve turnaround centers. In addition, opportunities for management services are available, including evaluation of a center’s business practices, efficiencies, managed care negotiation and outsourced coding and billing services.
If you would like to share your thoughts regarding these issues, please send them to Scott Becker at sbecker@mcguirewoods.com.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.