Jim Freund, senior vice president of GENASCIS, was unable to deliver the presentation with Mr. Searles due to travel delays.
Mr. Searles said ASCs face numerous challenges, but to stay profitable, ASCs must understand their supply and staff costs, take the time to properly train staff, standardize supplies and concentrate on avoiding coding and compliance errors.
Monitoring supply and staff costs and reimbursement levels is vital to determining profit per case, he said. Surgery centers should also focus on physician recruitment to boost case volume and decrease risk involved with physician retirement or departure.
He recommended surgery centers look to other facilities in the community for operational best practices and cost-cutting ideas. “Have an intellectual curiosity and see what other people are doing with other ASCs,” Mr. Searles said.
Related Articles on ASC Profitability:
Small Efforts Can Equal Big Rewards for ASCs
5 Factors That Heavily Influence ASC Value
10 Ways to Decrease Costs in an Orthopedic-Driven Surgery Center
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.