ASC Joint Ventures

For many years, physician-owned surgery centers actively competed with the community hospital, taking cases out of the main OR and threatening their bottom line.  Today the growing trend is to have hospital administrators and surgeons working together to build and operate jointly-owned ASCs. These partnerships have their own set of unique challenges and opportunities that need to be managed, on top of the daily business operations. With our extensive experience in this sector of the industry, ASC Strategies understands how to balance the hospital’s need for regulatory compliance with the surgeons’ desire for efficiency and distributions. Aligning the interests of both administrators and physicians is critical to cultivating a mutually-beneficial joint venture.

Feasibility Analyses

  1. Identify physician preferences including desired operational efficiencies, staffing, supply and equipment needs that would  be needed at a new surgical facility in order to maximize utilization and profitability.
  2. Project multi-year financial parameters  for both project start up and on-going operations of an offsite surgical facility
  3. Determine facility size and scope necessary to accommodate projected caseloads and capitalization costs, including equipment and leasehold improvements, suggested share price,  projected distributions, recommended partnership participants and structure, and suggested levels and classes of investment

Partnership Development and Syndication

  1. Facilitate meetings with physician and hospital representatives to understand issues of importance to each party
  2. Develop a partnership structure that is compliant with Federal regulations and serves to maximize returns and relationships
  3. Work with your legal counsel to develop partnership and syndication documents
  4. Serve as management’s representative in meetings with investors

Development of De Novo Surgical Centers

  1. Assist in all aspects of development from concept to center opening
  2. Develop policy/procedure/processes for all aspects of operations
  3. Hire, train and evaluate initial staff

Licensing and Accreditation Preparation

  1. Assist with all required state, federal and industry applications, preparation and surveys
  2. Prepare a customized policy and procedure manual compliant with current regulations

Comprehensive Operational Assessments for an HOPD or ASC

  1. Highlight strengths and identify opportunities
  2. Evaluate entire revenue cycle and business office
  3. Evaluate entire facility operations and the patient/surgeon experience

Operational Oversight

  1. Mentor the management team and set center-specific performance goals
  2. Provide direction and guidance to the management team as issues arise
  3. Provide an operational scorecard and performance update for all board members
  4. Make recommendations for improving efficiencies and profitability
  5. Conduct periodic site visits for on-site assessments, meet with staff and participate in board/partners meetings

Benchmarking, Case Profitability, and Financial Analysis of Outpatient Surgical Services

  1. Benchmark and performance measurement analysis
  2. Case cost and  case profitability analysis
  3. Measurement of your operations against the freestanding ASC sector

CFO Support Services

  1. Annual budget and benchmark preparation
  2. Cost/benefit analysis when considering new procedures, equipment, specialties, payor contracts or surgeons
  3. Monthly performance measurements and comparison to budget and benchmarks
  4. Contract, loan, and lease analysis