Issue link: https://beckershealthcare.uberflip.com/i/493267
50 Executive Briefing: Executive Briefing: Optimizing Your ASC Investment • A strong management entity may be able to leverage broader market activities so as to promote cost-savings for an ASC. • Finally, standardization of equipment and supplies can both promote quality and enhance cost-effectiveness. Regular financial, expense and operational reporting to the owners should promote a robust analysis of overall financial performance for an ASC. All too often, owners get focused exclusively on volume rather than expense and margins. You need to have access to good data on all these topics and moni- tor them closely. A good financial management tracking and reporting system can be worth many times the investment in such reporting tools. Real Estate Agreements: The Most Important Location Is the Future. Location is a central issue for ASCs, since they are built around convenience and accessibility. You need to structure good real estate arrangements that allow for long-term ac- cess to a quality site. It's imperative to address Issues regard- ing the maintenance of the facility. You need to be mindful of opportunities for a divergence of interests if there is not commonality of ownership between the ASC and the owners of the property. Look at some often complex lease terms, defining issues such as • The operating costs in addition to rent to be passed through to the ASC • Rent escalation provisions • Any terms addressing the permitted activities of other ten- ants. Your operations can be materially affected by a number of mat- ters beyond your control but which can be addressed in real estate documentation. They include the adequacy of parking, the nature of other adjacent businesses and the proximity of competitors. Surgery Center Development and Management The Trusted Partner of Physicians and Hospitals For over 15 years Constitution Surgery Centers has operated efficient, convenient ambulatory surgery centers that provide exceptional quality in patient care while delivering robust financial returns and practice benefits for our physician and hospital partners. In today's challenging marketplace, Constitution's expertise can make a real difference in your center's success. Constitution provides a full spectrum of services to the ambulatory surgery community: Constitution Surgery Centers, LLC is a recognized industry leader in surgery center development and management, operating centers in multiple specialties including independent facilities, hospital-physician joint ventures and hospital outpatient departments. Constitution Billing and Financial Services, LLC offers a complete array of revenue cycle management services to our partner centers. CBFS services cover billing, coding, and sophisticated statistical reporting and evaluative capabilities to promote success in center operations. Constitution Healthcare Strategies, LLC provides comprehensive professional consulting services. These include strategic planning, turnaround projects, payor contracting analysis and support, as well as representation of facilities in all types of affiliation, merger and acquisition undertakings. We would welcome the opportunity to put our experience and resources to work for you. For more information, please contact our Business Development Department at 860-667-1815 or visit our website at www.cscus.net Constitution Surgery Centers, 505 Willard Avenue, Newington, Connecticut 06111 "Location is a central issue for ASCs, since they are built around convenience and accessibility. You need to structure good real estate arrangements that allow for long-term access to a quality site." —John Newman, Constitution Surgery Centers