Becker's ASC Review

46 JOINT VENTURES Southern California medical office building with ASC sells for $43.3M By Eric Oliver T rammell Crow sold the MLK Community Health Building in Wil- lowbrook, Calif., for $43.3 million to Seavest Healthcare Properties, according to a July 24 Commercial Property Executive reports. What you should know: 1. The medical office building holds an ASC, a provider care space and a pharmacy. Physicians perform wound care, telehealth and imaging services out of the building. 2. The medical office building opened in March. 3. It will eventually be part of a $1 billion medical campus that includes a 131-bed hospital. n HCA Healthcare ended Q2 with fewer centers, number of outpatient surgery cases down 32.6%: 6 key details By Angie Stewart A s the COVID-19 pandemic battered operations in the second quarter, HCA Healthcare generated a significantly smaller portion of patient revenues from its outpatient centers. Six key details: 1. Nashville, Tenn.-based HCA shed one outpatient surgery center between April 1 and June 30, ending the second quarter with 122 centers. The com- pany had 123 at the end of the first quarter and 125 in the second quarter of 2019. 2. The company reported 170,911 same-facility outpatient surgery cases for the second quarter, down 32.6 percent from the 253,441 recorded for the same period in 2019. Same-facility inpatient surgery cases were down 15.6 percent. 3. Outpatient revenues as a percent of patient revenues slipped from 39.1 percent in the second quarter of 2019 to 31.8 percent in the same quarter this year. 4. HCA's overall revenues slumped from $12.6 billion in the second quarter of 2019 to nearly $11.1 billion in the most recent quarter. 5. Second-quarter 2020 net income was just shy of $1.08 billion, or $3.16 per diluted share, compared to $783 million, or $2.25 per diluted share, in the second quarter of 2019. 6. HCA received $822 million in funding from the Coronavirus Aid, Relief and Economic Security Act in the second quarter. Accounting for tax, the net stimulus income was $590 million. n Hybrid ASC is up and running with 43 cardiac partners: 6 things to know By Angie Stewart A er acquiring an ASC earlier this year, US Cardio Partners equipped it with a catheterization lab. e hybrid facility is now open to patients, CEO Cliff Crossett said in a July phone interview with Becker's ASC Review. Six things to know: 1. US Cardio, a management services company, purchased Henderson, Nev.- based Seven Hills Surgery Center Feb. 21. e multispecialty ASC was renovated to remove two operating rooms; it now has three. US Cardio is also changing the cen- ter's name to Seven Hills ASC. 2. Forty-three cardiac specialists have signed on as partners in the hybrid facility. Securing this kind of involvement was a one-and-a-half-year process that required some education around laws for hybrid facilities, Mr. Crossett said. 3. As of July, Seven Hills reported 100 per- cent patient satisfaction. It's also beloved by physicians and staff for its efficiency. "ey don't have to deal with all the ins and outs of hospitals, the slowdowns," Mr. Cros- sett said. "ey love the turnover times." 4. e ASC's volumes in July ranged from four to 10 cases a day. Due to the pandemic, projections about future volumes are hard to pin down. 5. When CMS approved percutaneous coronary interventions in the ASC setting for 2020, it was "the tipping point" for US Cardio, Mr. Crossett said. He believes CMS will continue encouraging outpatient migration with changes for 2021. 6. With payers striving to cut costs, the hybrid ASC/cath lab model will only con- tinue to grow in popularity, according to Mr. Crossett. US Cardio has another hybrid scheduled to open next year in the Houston area, with 20 physician partners involved. n

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