Here are five things ASCs need to know:
1. The rule, which would block companies from limiting their workers’ ability to work for competitors, could lift wages by nearly $300 billion per year, according to The New York Times.
2. These rules are often applied to physicians but could suppress pay or directly affect 20 to 45 percent of private sector workers, according to the Times.
3. The rule would force companies to discontinue existing noncompete agreements and inform employees they no longer apply. It would also be illegal to falsely suggest an employee is bound by one.
4. These covenants limit a person’s ability to get a new job with a competitor through restrictions on geography, time or line of business. Currently about half of states strictly limit these agreements, but companies often still use them despite the fact they are largely unenforceable.
5. The proposal will be open 60 days for public comments, and the FTC will then move to make it final.
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.