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14 Orthopedic ASC Income Statement — 20 Key Statistics By Laura Dyrda H ere are 20 statistics on orthopedic-driven ASC income statements based on statistics from the VMG Health Multi-Specialty ASC Intellimarker. Patient revenues 1. Gross charges: $27 million 2. Adjustments: ($18 million) 3. Net revenue: $9 million Operating expenses 4. Employee salary and wages: $1.7 million 5. Taxes and benefits: $404,000 6. Occupancy costs: $675,000 7. Medical and surgical: $2 million 8. Other medical costs: $80,000 9. Insurance: $33,000 10. Depreciation and amortization: $394,000 11. General & administrative bad debt: $207,000 12. Management fees: $253,000 13. Other G&A: $749,000 14. Total G&A: $995,000 15. Total operating expenses: $5.9 million Operating income 16. Operating income: $3 million 17. Operating income expense: $11,000 18. Net interest expense: $96,000 19. Earnings before taxes: $2.9 million EBITDA 20. EBITDA: $3.3 million n SPINE LEADERSHIP "Deep down inside, humans want to do good. But sometimes you have to step out- side a screwed-up system to do it." — Dr. Daniel Ivankovich impact 10 people and all of a sudden there are 100 people doing good. Each of us has a mission to do positive things every day. is transcends gen- der and race and socioeconomic data; we are all connected through life." Any patient that comes in to see Dr. Ivankovich also spends time with Dr. Karla Ivankovich, a psychologist and population health specialist. Dr. Karla Ivankovich conducts a bio-psy- cho-social evaluation to identify and manage patients with HIV, diabetes, depression, smokers and other issues. Dr. Ivankovich could operate on nearly every patient he sees, but oen these patients aren't good candidates for sur- gery because of other underlying issues and comorbidities. "e point is the operation doesn't mean the patient is going to feel bet- ter," says Dr. Ivankovich. "Part of your maturity as a doctor is to understand that patients need time. e average patient with a joint replacement takes six to eight month before we're able to perform the procedure. ey need teeth extractions, diabetes control and to quit smoking. We are using these life-changing surgeries to actually change their lives for the better." ey see patients each for around 45 minutes to form a relationship and gain the patient's trust. Caring for patients and recovering from surgery has become easier over the years with minimally invasive techniques and outpatient surgeries. ese procedures are less costly and help patients resume their normal lives more quickly. e practice also optimizes resources and runs efficiently to keep the doors open. And there are patients constantly coming in their doors. "At every clinic we have an average attendance rate of well over 95 per- cent," says Dr. Ivankovich. "at's an amazing statistic. Patients trust us. I'm not sure why, but we have developed a sense of family with our patients. e ultimate compliment that you get paid by the patients is for the patient to say, 'Doc, you are family.' at's the highest level of what you'll obtain." e Ivankovichs are invited to family reunions, barbecues, marriages and funerals around Chicago's South and West sides. "is is part of what the good old days were when doctors made house calls," says Dr. Ivankovich. "In order to become part of the solution, you have to become part of the problem. We are a family with these people that we've committed our lives to. It's a badge of honor." Looking into the future, the Ivan- kovichs hope to grow their practice in Chicago and spread their model to other large urban areas. ey believe in creating a sustainable program and scalable population health model with a small budget. "We're taking on private investors and donors to help us provide care and they think we have a great concept," says Dr. Ivankovich. "Population health is inserting the needs of the lowest common denominator. If you can make it work for them, the same principles can work in the affluent populations." n