Becker's ASC Review

Becker's ASC Review July/Aug 2014 Issue

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Practical Business, Legal and Clinical Guidance for Ambulatory Surgery Centers ASCREVIEW July/August 2014 • Vol. 2014 No. 6 INDEX Operational Efficiency p. 13 Coding, Billing & Collections p. 26 Transactions & Joint Ventures p. 31 Gastroenterology p. 38 Accreditation p. 50 Top 9 Threats to ASC Revenue Cycle Management How to overcome the biggest challenges today. p. 26 What Will Happen if HOPD Rates Are Lowered? This article explores what could happen if HOPD rates are lower and how the change would impact ASCs. p. 12 Audit ASC Profitability There are several hidden opportunities to improve your center through auditing profitability. p. 14 10 Big ASC Transactions Stay updated on ASC mergers and acquisitions across the United States. p. 31 From Debt to Profitability: Surgery Center of Northeast Texas By Ellie Rizzo When does a center hit the point of no return for a turn- around? How far gone is too far gone? For the founding partners at the Surgery Center of Northeast Texas in Tex- arkana, that moment nearly came when they were literally locked out of their center's building. Because of low case volume, the physicians were unable to pay their rent, which had led to the lockout. Being unable to do any further cases — a consequence of the lockout — The Gary and Mary West Health Policy Center released a report on May 15 detailing potential savings from price transparency in health- care. According to the report, greater information on healthcare prices could reduce United States health- care spending by an estimated $100 billion over the next 10 years. "While healthcare transparency is typically viewed through the lens of patient-facing transparency tools to drive comparison shopping, our analysis suggests even greater impact could be achieved by expanding the audience for such information," said West Health Policy Center Board of Directors Chairman Joseph Smith, MD, PhD. The report identified new policy pro- posals driving the transparency and cost savings: • State all-payer health claims data- bases used to report hospital prices could save up to $55 billion by mak- ing employers more aware of price differences and increasing pressure on high-cost providers to reduce their prices • Electronic healthcare record imple- mentation requirements provide prices for physicians ordering diag- nostic tests and the ability to create patient-specific treatment plans, which could save up to $25 billion 5 Most Pressing Financial Issues for ASCs By Laura Dyrda There are several factors impacting ambulatory surgery center profitability — both in and out of their control. Here are five of the most common pressing financial issues for ASCs today: 1. Cash flow issues. ASC owners outline how distri- butions are calculated during the initial operating agree- ment, but sometimes those agreements allow for some discretionary working capital holdbacks, according to continued on page 10 continued on page 9 continued on page 13 INSIDE: 107 ASC Administrators to Know; Becker's ASC 21st Annual Meeting – The Business and Operations of ASCs Price Transparency Will Save Healthcare $100B: How ASCs Are Taking Advantage By Laura Dyrda Becker's ASC 21st Annual Meeting The Business and Operations of ASCs October 23-25, 2014 • Chicago Keynotes: Terry Bradshaw, Co-Host and Analyst, FOX NFL Sunday and NFL Legend; Bill Taylor, Founding Editor, Fast Company and Best-Selling Author; Lolo Jones, 2-Time Olympic Hurdler and World Champion, 2014 Olympic Bobsledder For more information, call (800) 417-2035 30 Great Surgeons, 36 Leading Administrators and 80 Surgery Center Speakers in Total

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