Q: What impact is the economy having on ASCs?
Barry Tanner: I believe that the current economy is 1) slowing the growth/development of new ASCs, 2) making it difficult for existing ASCs to raise needed capital, and 3) just beginning to show signs of a creeping decline in patient volume, especially in the area of procedures that are truly elective. We anticipate that the later part of 2009 and 2010 may bring about the steepest declines in patient volume as unemployment continues to rise and unemployment benefits run out.
Q: What is the most important thing an ASC can do in 2009 in order to preserve profits?
BT: I believe that this is the perfect time to focus on the quality and aesthetics of patient care. There is little an ASC can do about reimbursement. It is time to focus upon operational efficiency, quality of care and customer service. While ASCs have always been customer service-oriented, this is a great time to up the ante. Healthcare is and will continue to be highly competitive. In this high-stress environment, particularly, patients will appreciate, remember and talk to other people about the way in which they were received and cared for.
Q: Are there opportunities in the ASC market now?
BT: I believe that the opportunities in the ASC market lie in the unprecedented need for professional management. The value of professional management services has never been greater than they are today. Purchasing, staffing, contracting, utilization analysis, billing and collections and customer service training are all areas that can add substantial value to an ASC. Effective management requires focus, experience and action. These are very often things that physicians simply don’t have the time address.
If you would like to share your thoughts regarding these issues, please send them to Scott Becker at sbecker@mcguirewoods.com.
