Orthopedic surgeon Mark Kerner, MD, of Hampton Roads Orthopaedics Spine and Sports Medicine in Newport News, Va., spoke to Becker’s ASC Review on how orthopedic surgeons should focus on ASCs.
Question: What could make or break an orthopedic practice in the next two years?
Dr. Mark Kerner: There is an increasing premium on astute management and staff. Margins throughout orthopedic medicine are tightening, insurance companies have realized little pushback from surgical denials and expenses are increasing.
Previous areas of profit — real estate, MRI, physical therapy — have dramatically smaller margins than in decades past. The profit center that is peaking is the ASC. To remain competitive, orthopedic groups will need to astutely manage these businesses to maintain the ancillary income stream that is crucial to meeting income expectations. It is not medicine. It’s business.
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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.