Buddy Bacon: The most critical mistake related to a de novo is unrealistic financial projections. If you take a very conservative approach to budgeting a project, you can move forward with the confidence of knowing the scope is driven by accurate data. For example, too many financial forecasts are built with the attitude of “if we build it, they will come.” Base your financial projections on the physicians that are committed to the project and the cases they can realistically transfer to the ASC. If the project is viable at that point, then you can move forward to syndication, with a strong sense of confidence.
Also, make sure not to overbuild the facility. The best way to avoid doing this is to let the case volume drive the scope of the project. Depending on the specialty mix, an efficient and effective ASC can perform in an 8,500-square-foot facility.
Learn more about Meridian Surgical Partners.
Learn more from Meridian Surgical Partners:
– 12 Statistics and Financial Figures to Analyze Weekly and Share With Physicians
– How to Keep Business Staff Productive
– Two Common Managed Care Negotiation Mistakes
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 18–20 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
