Here are seven updates for ASC leaders to know for Nov. 9.
CMS 2018 final payment rule increases ASC reimbursement 1.2%, less than proposed
CMS released the 2018 final payment rule for ASCs and hospital outpatient departments, both of which received lower reimbursement increases than proposed in July. ASC payment rates will increase 1.2 percent in 2018 based on a projected inflation of 1.7 percent, minus a 0.5 percentage point productivity adjustment required by the ACA. The adjustment falls short of the 1.9 percent proposed increase in July.
Surgery Partners Q3 revenues increase 8.4% to $306.3M
Surgery Partners revenues totaled $306.3 million in the third quarter, an 8.4 percent increase from the same period of 2016. Same-facility third-quarter revenues rose 2.9 percent over the same period last year.
Wilford Eye Center unites eye surgery departments
San Antonio-based The Wilford Hall Eye Center united the U.S. Air Force's 59th Medical Wing's department of ophthalmology and optometry as well as the Joint Warfighter Refractive Surgery Center. The Wilford Hall Eye Center is housed in the Department of Defense's largest outpatient clinic and surgical facility, San Antonio-based Wilford Hall Ambulatory Surgical Center.
Tulsa Spine & Specialty Hospital CEO Terry Woodbeck to step down in December
CEO of Tulsa (Okla.) Spine & Specialty Hospital Terry Woodbeck plans to retire at the end of the year, and the hospital's current COO Trent Gastineau is slotted to take his place in 2018. Mr. Woodbeck was the founding CEO of Tulsa Spine & Specialty Hospital, a joint venture between Tulsa-based Hillcrest HealthCare System and a group of physician owners.
Tenet's ambulatory segment net operating revenues climb 4.5% to $486M
During the third quarter, Tenet Healthcare's ambulatory segment generated net operating revenues of $468 million, up 4.5 percent from the same period last year. In this segment, Tenet's adjusted EBITDA hit $159 million, a 1.3 percent increase from the third quarter of 2016.
OrthoNY earns preliminary approval for $5.63M ASC
A state review board granted Albany, N.Y.-based OrthoNY preliminary approval for its $5.63 million Clifton Park, N.Y-based ASC. This will be OrthoNY's second ASC facility. The group opened Executive Woods Ambulatory Surgery Center in Albany in 2000.
Lee Health buys land for ASC, expansion plans
Fort Myers, Fla.-based Lee Health bought land in Estero, Fla., for its expansion plans. Initially, Lee Health proposed building an 80-bed hospital, but state officials rejected the plan. Naples, Fla.-based NCH Healthcare System was a stark opponent on Lee Health's hospital plans.