According to Mr. Ferro, the OUC model is the “winning ingredient” for growing ASCs. In the past, patients seeking orthopedic care were often confronted with either excessively long waits in the emergency room or the need to compromise quality of care in an urgent care center. Mr. Ferro discussed the business model of the franchise OrthoNow that embodies a solution to this issue by creating a walk-in OUC center.
“To maximize revenue potential is the mission statement of OrthoNow,” Mr. Ferro said.
Mr. Ferro outlined several key aspects of the OrthoNow business model. “It’s critical to keep staffing lean and mean. The orthopedic surgeon works part time and tracks the treatment and outcomes of patients. Then there are the physician extenders, the orthopedic physician assistants, the medical assistants and office managers.” Mr. Ferro emphasized office managers play a critical role in developing the business by educating people about what the center offers within a community network.
One of the biggest advantages of the OrthoNow model is its ability to capture competitive patients. “Planting franchises allows us to improve and grow practices. There is significant downstream revenue, including for imaging and rehab,” said Mr. Ferro.
According to Mr. Ferro, the high quality and efficient care cycle of OrthoNow is what allows it to increase patient volumes. “When you look at the whole cycle, you get a patient that comes in the door with an injury, he or she has imaging done, surgery and pain management — once you get the patient in, they’ll be in your network. Based on one favorable experience, you’ll have significant benefits from patient referrals.”
OrthoNow develops best practices in all areas of the business to track and benchmark performance, and identify areas for improvement.
