Issue link: https://beckershealthcare.uberflip.com/i/1260323
30 JOINT VENTURES National Medical Billing Services, Smith+Nephew partner to support orthopedic cases migration to ASC By Laura Dyrda S mith+Nephew entered into a strategic partnership with National Medical Billing Services to provide revenue cycle management solutions to ASCs across the U.S. Four things to know: 1. e venture is part of the Positive Con- nections program that aims to support the transition of orthopedic cases into the ASC. e partnership will support ASCs as they navigate through the COVID-19 pandemic. 2. rough the partnership, the companies will offer revenue cycle management support to increase ASC cash flow and strengthen compliance. e partnership will also help ASCs streamline back-office financial processes and procedures based on National Medical's proprietary intelligent workflow technology, analytics and advice. 3. National Medical and Smith+Nephew aim to focus their partnership on helping ASCs compress the revenue cycle time frame, improve cash flow, develop solutions for con- tracting issues, create payer-specific invoices, and aggregate clinical and financial data into one repository. 4. e companies will also provide cus- tomer education events so surgeons can stay updated on new regulations and financial constructs. "As more high-acuity procedures migrate to the surgery center setting, it is critical for ASC administrators to examine and refine their managed care contracting, billing and accounts receivable processes, and to have sophisticated technology and analytics at their fingertips," said Nader Samii, CEO of National Medical Billing Services. "We are excited to partner with an industry leader like Smith+Nephew so we can combine the deep expertise of our team of revenue cycle professionals with value-focused solutions to create a comprehensive program for ASC customers." n ValueHealth enters into joint venture with Pennsylvania hospital to build ASC By Eric Oliver L eawood, Kan.-based ValueHealth entered into a surgical joint venture with Doylestown (Pa.) Health, which will grow the health system's clini- cal footprint. What you should know: 1. ValueHealth and Doylestown Health will develop a multispecialty ASC, Doylestown Surgery Center. 2. The ASC will have the ability to handle 4,000 cases annually and will have four operating rooms and six recovery suites. The center will also hold ValueHealth's Total Joint Replacement Certification. 3. The partnership expects to open the ASC in the first quarter of 2021. Doylestown Health President and CEO Jim Brexler said: "We are deeply rooted in bringing value to the com- munity, and ValueHealth is the trusted partner who will empower us to deliver next-generation surgical care. This is what 21st century healthcare delivery looks like. It's the surgical road forward to strategic growth." n Anesthesia provider brings portfolio to 500+ facilities with acquisition By Angie Stewart M elville, N.Y.-based North American Partners in Anesthesia acquired American Anesthesiology May 6. Five things to know: 1. Dating back to 2007, American Anesthesiology is a medical group affiliated with Sunrise, Fla.-based Mednax. 2. American Anesthesiology's clinicians and administra- tors will become NAPA employees as a result of the transaction. 3. Through its affiliated entities, NAPA now has a team of more than 6,000 clinicians and staff offering anesthesia and pain management services at 500-plus U.S. facilities, including ASCs. 4. Mednax will continue to seek growth opportunities for its radiology and pediatric/obstetrics groups, as well as for Surgical Directions, a healthcare consulting firm acquired in 2014. 5. Mednax will receive $50 million in cash when the trans- action closes, according to Reuters. n