1. Access to capital – Without adequate equity and debt financing, a project can quickly fail. An experienced ASC development partner has the industry contacts and expertise to navigate the ever-changing lending environment to obtain funding for construction and equipment, as well as, provide and help raise money for working capital for the critical start-up phase of the project.
2. Expedited development – ASC development partners understand the complex process of building, equipping, staffing, and operating a successful facility. This knowledge can greatly reduce the time it takes from syndication to the delivery of the ASC … in most cases 12-14 months. An ASC development partner plays a key role in driving the project from beginning to end, so it doesn’t lose momentum or interest from potential investors. Additionally, as obstacles present themselves and threaten to delay or end the project, an ASC development partner can allocate the time and resources necessary to resolve these issues.
3. Recruiting resources – Case volume drives ASC development. Without adequate case volume to support a facility, there is no project. ASC development partners work closely with physician investors to realistically evaluate case volume sources and to identify, target, and recruit additional physicians to increase project momentum and establish a reliable source for future revenue.
4. Planning expertise – With input from the physician partnership, an ASC development partner handles all of the complex moving parts of the project. This includes defining the scope and determining capital needs, syndicating the partnership, establishing real estate relationships, overseeing the construction and equipment planning, coordinating state licensure and Medicare certification, and negotiating managed care contracts. A long-term partner also remains involved in day-to-day operations to ensure the success of the center beyond development by implementing and executing plans to spur future growth.
5. Improved quality of life – Physicians who select an ASC development partner discover that their work/life balance is easier to maintain throughout the process. Additionally, they gain time with the efficiencies of a new facility, while also increasing their future revenue potential.
Contact Kenny Hancock at (615) 301-8142 or khancock@meridiansurg.com. Learn more about Meridian Surgical Partners.
Physicians with aspirations of building their own ASC have many things to consider and questions to answer… Who will handle the real estate? What is the process for obtaining licensure and Medicare certification? When will managed care contracts be negotiated?
Where will we get funding? How long will the project take to complete? When will I find time in my schedule to manage this? Questions like these pose specific challenges that require a combination of dedicated resources, time, industry experience and operational expertise. Below is a list of the beneficial offerings that physicians can receive by selecting the right ASC development partner to build their new ambulatory surgical facility.
1. Access to capital – Without adequate equity and debt financing, a project can quickly fail. An experienced ASC development partner has the industry contacts and expertise to navigate the ever-changing lending environment to obtain funding for construction and equipment, as well as, provide and help raise money for working capital for the critical start-up phase of the project.
2. Expedited development – ASC development partners understand the complex process of building, equipping, staffing, and operating a successful facility. This knowledge can greatly reduce the time it takes from syndication to the delivery of the ASC…in most cases 12 to 14 months. An ASC development partner plays a key role in driving the project from beginning to end, so it doesn’t lose momentum or interest from potential investors. Additionally, as obstacles present themselves and threaten to delay or end the project, an ASC development partner can allocate the time and resources necessary to resolve these issues.
4. Recruiting resources – Case volume drives ASC development. Without adequate case volume to support a facility, there is no project. ASC development partners work closely with physician investors to realistically evaluate case volume sources and to identify, target, and recruit additional physicians to increase project momentum and establish a reliable source for future revenue.
4. Planning expertise – With input from the physician partnership, an ASC development partner handles all of the complex moving parts of the project. This includes defining the scope and determining capital needs, syndicating the partnership, establishing real estate relationships, overseeing the construction and equipment planning, coordinating state licensure and Medicare certification, and negotiating managed care contracts. A long-term partner also remains involved in day-to-day operations to ensure the success of the center beyond development by implementing and executing plans to spur future growth.
5. Improved quality of life – Physicians who select an ASC development partner discover that their work/life balance is easier to maintain throughout the process. Additionally, they gain time with the efficiencies of a new facility, while also increasing their future revenue potential.
Contact Kenny Hancock at (615) 301-8142 or khancock@meridiansurg.com. Learn more about Meridian Surgical Partners. www.meridiansurgicalpartners.com
