October 5, 2024
Physicians: You have poured your talents, your time, and your financial resources into developing and managing your independent ambulatory surgery center. Your hard work is paying off, so why would you even consider partnering with an ASC management company?
Partnering with Compass Surgical Partners has financial upsides worth considering. By harnessing our expertise and experience, you can reap even greater financial rewards than you earn now. And our physician-centric approach to ASC governance means your perspective drives the decisions that matter most to high-quality patient care.
When Compass invests in an ASC partnership, we typically purchase 51% of the equity at fair market value (FMV). Our team works closely with physician partners to ensure regulatory compliance and alignment on pricing. We view this transaction as the beginning of a long-term business partnership, and we work to ensure financial transparency. Our new partners can rest assured that the ASC has not been undervalued.
Physician owners split the proceeds of the sale based on the portions they own. The resulting structure leaves the physician owners with 49% equity in the ASC, and a new partner that drives value to the ASC.
When you sell a portion of your equity, your percentage share becomes smaller; but, when you partner with an experienced ASC management company like Compass, your smaller share now earns more for you annually than your larger share did before.
A smaller piece of a bigger pie means more pie for you every year.
This conceptual rendering illustrates how Compass’s experience in managed care contracting alone can impact an ASC’s financial picture.
There is no doubt you manage your ASC well. You would not have been able to develop it to this level if you did not run it well.
We can help you run it better. When you partner with Compass, you tap into a team of ASC specialists—experts in financials, competitive payer strategies, revenue cycle management, regulatory compliance, survey logistics, supply chain management, optimal staffing, and other operational efficiencies.
While we bring a ‘toolkit’ of proven best practices to each ASC partnership, we never take a cookie-cutter approach. We align management decisions to what your ASC needs to fulfill its highest potential. On average, our ASCs aim to earn 30% or better EBIDTA than the industry average.
Here are just a few ways we work with our partner ASCs to increase earnings and profit margins:
Facility Optimization: Value-add operational services ensure that your facility’s schedule has minimal OR downtime and maintains appropriate staffing and equipment levels.
Physician recruitment: Drive higher case volumes through new physician partnerships.
Competitive reimbursement rates: Our significant experience negotiating ASC-focused managed care contracts, combined with the high quality of service rendered at the ASC and value provided to the patient, yields more favorable terms than you have had in the past.
8-12 % higher revenue capture: Even the best coding and billing teams have at least some revenue leakages. ASC partners that choose to deploy our optional RCM services spot and stop such leakages. On average, our RCM experts slash outstanding patient balances by 60%, lower days in A/R, achieve 2-3 days to bill, and reach a 99% clean claims rate.
Rigorous financial reporting that drives better decisions: A team of financial professionals, who have spent their careers mastering ASC financials, can benefit your ASC. Our ASC partners get access to daily, weekly and monthly dashboards on key performance indicators, as well as yearly overviews that lend clarity and consensus to board decisions.
Lower supply costs: Compass’s purchasing power and procurement expertise means you pay lower prices for supplies and experience fewer supply chain disruptions.
Partnering with ASC management brings other benefits that you can’t put a price on, which include:
Less wasted time idling at the facility or traveling between the HOPD and your ASC: Efficient scheduling means you can spend more of your workday healing patients. Higher ASC caseloads free our physician partners to perform fewer procedures at time-draining HOPDs and more procedures at their own optimally efficient ASC.
Higher patient satisfaction: Best-in-class patient experiences—from scheduling to post-surgery follow-ups from facility staff—make your job as a healer less stressful.
Fewer operational headaches: If you are like most physicians, you didn’t go into medicine because you love mucking about with regulatory compliance, haggling with payers, grappling with RCM, working supply chains, and the like. We have people on our team who love to do those things and have devoted their careers to mastering them—freeing you to focus on patient care.
You have many options for ASC management, so we conclude with just a few reasons to choose Compass to be your guide.
Our mission is to improve the lives of patients and providers. Compass is not a publicly traded giant, so we don’t have to make quarterly, short-term decisions that compromise patient care or long-term growth.
Our independence means we take a physician-centric approach as we adapt our agile, aligned operating model to help you achieve your ASC goals.
Let’s talk about how we can help you and your physician partners strike your own balance as you take the next steps on your ASC journey.
