Managing facility profits and margins ensure that facilities can continue operating and providing care to their communities, while also staying competitive with local hospital systems.
Ambulatory Surgery Center (ASC) administrators with a profitable surgery center can reinvest in the practice by purchasing innovative equipment and recruiting top doctors, expanding market sales dollars, and helping more patients over time. If you are building a growth plan for your ASC, here are two high-level strategies to increase margins:
- Negotiating prices with implant and equipment vendors. Since these purchases make up a large percentage of overall operational costs, decreasing expenses for implants or new capital purchases will make significant impacts on your margins.
- Creating process improvements. Investing in technology to better understand patient and staffing volume could lead to more efficient operations. Solutions that enable administrators to discover those optimal scenarios take out the guesswork and allow facilities to begin the appropriate staffing and case volume models sooner.
Find additional resources from Cardinal Health to enhance your ASC's performance here.