Here are seven healthcare industry updates for ASC leaders to note:
KKR acquires Covenant Surgical Partners
Private equity firm KKR acquired Covenant Surgical Partners from previous owners and shareholders. Covenant owns 37 gastrointestinal and ophthalmic ASCs and practices in 17 states.
Massachusetts Insurance Department takes control of ACA co-op
The Massachusetts Insurance Department now controls Minuteman Health, a co-op based in Massachusetts. Bay State Insurance Commissioner Gary D. Anderson is the "receiver" for Minuteman, which means he controls the company. In June, Minuteman announced it would cease offering insurance in 2018 due to less capital and surplus.
MedStar Health opening orthopedic surgical facility with ASC
Columbia, Md.-based MedStar Health opened an orthopedic "super center" with an ASC in Timonium, Md. The 46,000-square-foot facility will offer orthopedics, spine, sports medicine, physiatry, pain management and rehabilitation services.
CMS withdraws proposal that would have made accreditation reports public
CMS withdrew a proposal that would have required accrediting organizations to publicly disclose their accreditation surveys. CMS withdrew the rule after an influx of public comments. CMS wanted to make the reports available to increase transparency.
Envision Healthcare generates $318.5M in Q2 ambulatory services revenue
Envision Healthcare's second quarter 2017 financial results met the company's expectations. The company's net revenues totaled $318.5 million, down from $319.8 million in the second quarter of 2016, with the ambulatory services division.
MedHQ names new human resources director
MedHQ, an HR, accounting and finance business services company specializing in the ASC market, hired Caitlin Scarpelli as director of human resources. Ms. Scarpelli will oversee MedHQ client organizations' administration of HR policies as well as procedures and programs.
Envision Healthcare strikes $2.4B deal on ambulance business
Envision Healthcare Corp. is selling its medical transportation subsidiary, American Medical Response, to portfolio company KKR. will acquire AMR from Envision in a cash transaction totaling $2.4 billion and KKR will combine AMR with its Air Medical Group Holdings.