Joint ventures between physicians, hospitals, and corporate chains are becoming increasingly commonplace in the ASC industry. ASCs experience several benefits from partnering with a corporate chain or hospital, including better infrastructure, management expertise, and greater leverage with suppliers and payers.

Measuring your ASC’s performance is crucial in order to maintain the health of both your business and your patients. Tracking and assessing financial benchmarks can ultimately provide greater oversight and control over your ASC’s clinical and financial performance and help you identify potential areas for improvement.

Dr. Andrew Schoenfeld, who spoke on a panel at Becker’s Annual Spine, Orthopedic, and Pain Management-Driven ASC + The Future of Spine Conference about the future of ambulatory surgery centers (ASCs), said it best: “The single most important thing to staying competitive in the market is efficiency.” 

Challenges such as rising operating costs and shrinking margins are all too real for healthcare professionals. In order to be profitable and successful in today’s complex, ever-evolving healthcare climate, medical facilities such as hospitals and ambulatory surgical centers (ASCs) need to optimize their revenue cycle and maintain a steady cash flow.