The impact of implant pricing on Ambulatory Surgery Centers (ASCs) is a critical challenge affecting profitability. Surgeon alignment at ASCs has led to a substantial reduction in screw prices, emphasizing the need for effective implant cost management without compromising patient care quality. Device Management Companies (DMCs) like Evolent (formerly IPG) play a crucial role in addressing this issue. They leverage contract negotiation, data analytics, and industry relationships to optimize implant costs and revenue cycle management for ASCs. DMCs negotiate favorable pricing, optimize payer contracts, facilitate value-based care models, and provide data-driven insights. Internal strategies are also essential for ASCs, such as strengthening surgeon collaboration, enhancing cost management, and diversifying payer mix. A collaborative approach involving ASCs, surgeons, device manufacturers, payers, and DMCs is key to managing implant costs effectively and ensuring financial sustainability while delivering high-quality patient care. Exploring specific aspects like the role of value-based contracting or challenges in negotiating with device manufacturers can provide deeper insights into optimizing implant costs in ASCs. #theDNAofCostOptimization #ASCsCostEffective #DeviceManagement
Armando Javier Colón Aponte MSCJ, CBMA, COC, CASCC, CPPM,CFWAP, CWHBP, PCAP™’s Post
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Master the secrets to maximizing your ASC's profitability with seven expert strategies. Learn how to reduce costs, optimize OR utilization, and leverage technology for financial health. Whether managing supply chains or improving revenue collection, these insights will help your ambulatory surgery center thrive.
"In My Experience...Seven Strategies for Enhancing ASC Profitability" | Published in Journal of Orthopaedic Experience & Innovation
journaloei.scholasticahq.com
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Consider adding ASC’s to your call pattern. Here are some reasons for medical distributors to consider adding surgery center-focused products: *Growing Demand: Ambulatory Surgery Centers (ASCs) are seeing a significant increase in demand as more patients seek cost-effective, outpatient surgical options. *Revenue Diversification: Adding ASC-focused products helps distributors diversify their revenue streams by targeting a rapidly expanding market segment. *Higher Margins: ASC-focused products often come with higher margins compared to standard medical supplies, as ASCs tend to prioritize quality and efficiency for better patient outcomes. *Less Bureaucracy: Unlike hospitals, ASCs typically have streamlined procurement processes, allowing distributors to establish relationships and close sales faster. *Long-Term Partnerships: ASCs often form long-term relationships with trusted distributors, providing recurring revenue opportunities for products that need regular replenishment. *Growing Physician Ownership: Many ASCs are physician-owned, which can create strong incentives for quality products and foster loyal relationships with reliable distributors. *Focus on Specialized Products: ASCs usually focus on specific types of procedures, giving distributors an opportunity to introduce specialized products that align with these niches and further differentiate their offerings. Contact me to get started. Peter@CommissionWolf.com
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Master the secrets to maximizing your ASC's profitability with seven expert strategies. Learn how to reduce costs, optimize OR utilization, and leverage technology for financial health. Whether you're managing supply chains or improving revenue collection, these insights will help your ambulatory surgery center thrive. Don't miss out on these game-changing tips!
"In My Experience...Seven Strategies for Enhancing ASC Profitability" | Published in Journal of Orthopaedic Experience & Innovation
journaloei.scholasticahq.com
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How ASCs should measure their performance? 💡 Ambulatory Surgery Centers (ASCs) are critical in delivering efficient and cost-effective surgical care. They have gained popularity among patients since they usually provide a more effective and quality care service than big hospitals. To maintain high standards and streamline operations, ASCs rely on specific Key Performance Indicators (KPIs). While there are numerous KPIs available for ASCs—ranging from 20 to 30 depending on the complexity and focus of the center—managers must prioritize the most impactful ones to drive growth and improvement in their practice. Here, we explore the six most used KPIs in the industry. Focusing on a few KPIs, help managers make strategic decisions based on the most relevant metrics. #ASC #SurgeryCenters #Healthcare #HealthcareKPIs #HealthcareRevenue
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💾 Is your OR documentation process a bit of a flop? We are breaking down the components of AORN Sytengrity - last but not least is Specialty Content! 🔍 AORN Syntegrity’s Specialty Content provides standardized, evidence-based content tailored for each surgical specialty. 💡 Consistency Across Procedures: By standardizing content, it ensures everyone is on the same page, reducing variability and improving the quality of care. 💡 Time-Saving: Quickly access the specific protocols and guidelines needed for each surgery, making your prep more efficient. 💡 Enhanced Communication: Clear and consistent information enhances teamwork and reduces the risk of errors. How has standardized processes impacted your surgical team’s efficiency and patient care? Share your experiences! 🗣️👇 Learn more here: https://bit.ly/4eY8Mcq #OREfficiency #PatientCare #AORNSyntegrity #SurgicalExcellence #HealthcareInnovation #Teamwork #SpecialtyContent
Specialty Content by AORN Syntegrity
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Are you looking to boost efficiency in your ambulatory surgery center? Our latest guide for coordinators and administrators reveals key strategies to streamline operations, reduce costs, and enhance patient care. Discover the power of advanced scheduling, inventory management, and workflow optimization. Don't miss out on these insights that could transform your ASC into a model of efficiency and excellence. Read more now! #hubhealthcare www.hub.healthcare
Maximizing Efficiencies in Ambulatory Surgery Centers: A Guide for Coordinators and Administrators
https://hub.healthcare
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Enhancing Revenue Cycle Management (RCM) for ASC's Claim rejections can pose a major challenge for Ambulatory Surgery Centers (ASCs), affecting financial health and operational efficiency. Here are 5 essential tips from Strategic Insight Consulting to reduce claim rejections and streamline your RCM processes.
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