Beckers Asc Review Asc Physician Leaders to Know
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The summit growth opportunities for ASC leaders to know: Shields Health Intendance Group CEO Tom Shields weighs in
Written by Rachel Popa
May xvi, 2019
To capitalize on new growth opportunities available to ASCs created past the shift to outpatient surgery, ASCs should look to adopt new technologies and policies to stay competitive.
Tom Shields, CEO of Shields Health Care Group, which develops ASCs and provides outpatient imaging services, weighs in on the top ASC growth trends to know.
Note: Responses have been lightly edited for mode and clarity.
Question: What is the biggest opportunity for growth you come across for ASCs in the next 10 years? As an ASC leader, how do you hope to capitalize on growth opportunities?
Tom Shields: Thanks to advances in technology, surgical techniques and innovations in post-surgical care, more not-traditional surgical procedures are migrating to the ASC setting. In full general, ASC prices are significantly lower than infirmary outpatient section prices and the drive to shift where these procedures are performed comes from the additional price savings that tin can exist achieved. In the more immediate sense, total joint replacements will shift to ASC settings, just this is actually but scratching the surface.
Over the side by side 10 years, this tendency volition keep with more than avant-garde spine procedures and interventional therapies (vascular and cardiac) creating a bigger opportunity to significantly reduce health care costs. As the number of procedures done at an ASC grows, the demand for ASCs will as well.
Every bit an ASC leader, nosotros've designed our business model to keep pace with the demand of market needs today and in the hereafter. As patient financial responsibilities ascension and the example mix continues to shift, patients, payers, employers and providers will exist looking for a network of ASC facilities they can trust to deliver high-quality care, focus on patient outcomes, provide land-of-the-art technology and depression, transparent pricing. We align with physicians who are leaders in their fields and tin can identify the procedural opportunities and what is needed to implement them.
Our state-of-the-fine art facilities are constructed to position u.s. for growth and so we can movement quickly to conform new procedures. Our facilities are strategically constructed in regions that are accessible and user-friendly for patients. We also expect to work with employers interested in partnering directly with a network of ASC facilities to help manage the costs of outpatient procedures.
Q: What is your ASC's strategy for patient collections?
TS: Every bit patient financial responsibilities proceed to rising (and show no signs of slowing), ASCs need to collect what is owed for the surgery while maintaining their high level of patient satisfaction. The procedure to effectively capture patient collections as early equally possible starts with transparency on cost. We have complete transparency in our pricing and provide every patient an upfront gauge on their individual out-of-pocket costs. Preparing them in advance for what their financial responsibility will exist at the time of the surgery eliminates surprises and builds greater trust in the service we deliver. It also allows our patients and families to appoint in honest conversations nearly appropriate healthcare spending and planning. Nosotros are taking this i step further by building online tools that will enable patients to admission this information electronically.
Beyond preparing the patient in advance, nosotros also offer the ability to pay their pecker in a secure, elementary online arrangement. While the ASC pricing is on boilerplate about 40 percent lower than hospital, the out-of-pocket expense can yet be significant and we offering payment plans and flexible financial solutions such as CareCredit that help patients comprehend their surgical costs and pay for it in a style that fits their budget.
Q: How do yous budget for and select new technologies for your ASC?
TS: Our ASC model is a collaboration with physicians that have an ownership stake and perform surgical cases at the facility. The md owners are actively involved in a clinical advisory commission. Counterbalanced in part past our ASC administrator'due south budgetary mindset, we leverage their clinical expertise to identify the equipment and technology that best meets the needs of the patient community. We also lean on our medical device partners to communicate what is coming down the pipeline and interact with them across our network to leverage economies of scale. Collectively, this committee helps usa to stay at the forefront of the market by identifying applied science to perform innovative procedures and provide the high-quality surgical care, while doing so efficiently and with better outcomes. For example:
From a surgical standpoint, our 4k engineering science allows us to provide top-notch intendance today, but too gives the states room to add sophisticated enhancements as fourth dimension evolves. Additionally, we utilize a secure, cloud-based image retrieval and medico-centric EMR.
From a patient feel perspective, we have begun utilizing postal service-op personalized videos. With assistance from Arthrex's Surgeon Vault, Brian Busconi, MD, of The Surgery Middle at Shrewsbury (Mass.) now records a video of himself that is sent to the patient immediately following the surgery. This video includes a personalized account of what took place during surgery, how the patient should wait to feel, his instructions or recommendations to expedite healing, and his advisement on any unique bug or concerns the patient has had leading up to the procedure. Dr. Busconi also explains when the patient should follow up in the clinic.
These videos are then emailed to the patients in a HIPAA-compliant fashion and then when recovering at abode and the sedation has worn off completely, they are able to picket the video as many times equally they desire in order to accept a strong understanding of how to all-time take care of their wellness. They are also able to share with loved ones who may be assisting in caretaking during the recovery process.
Since Dr. Busconi began utilizing these videos, follow-up calls to the role have decreased by roughly sixty percent.
Q: What is unique about your ASC business model and what do yous attribute to its success?
TS: Locally in Massachusetts the loftier-priced hospital marketplace presents an extraordinary opportunity for innovative providers to drive lower cost, meliorate admission and better quality of care in a freestanding setting. We run across a significant growth opportunity in business concern models that facilitate physician alignment with these objectives through their direct ownership —- along with Shields operational and management expertise. In many cases, we have as well been able to successfully engage local health systems in our articulation venture partnerships.
These frontwards-thinking health systems are well enlightened that a growing percent of their patients are in value-based or managed care contracts that incentivize a shift to lower cost site of care on freestanding rates. This business model places equal pare in the game for the physicians, health system and the management company — which we believe is our recipe for success. At the end of the day, this allows us to consistently evangelize high-quality surgical care in cut edge facility at a much more affordable rate.
Source: https://shields.com/beckers-asc-review-top-growth-opportunities-for-asc-leaders-to-know-shields-ceo-tom-shields-weighs-in/
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