At the 20th Annual Spine, Orthopedic + Pain Management-Driven ASC Conference, attendees gathered to hear about the latest developments in orthopedics and ASCs.
The panelists included Dean Lehmkuhler, Administrator of the Northside Gastroenterology Endoscopy Center, and Bus Tarbox, MD, Orthopaedic Surgeon of the Columbia Orthopedic Group. With their combined experience in orthopedics and ASCs, the panelists provided a comprehensive overview of the current state of the industry and offered insight into the potential opportunities and challenges of the future.
The discussion was moderated by Claire Wallace, Writer and Reporter at Becker's Healthcare.
Key Takeaways:
- Private equity can pose a threat to independent ASCs in medicine.
The discussion highlights how private equity can be a challenging aspect for independent ASCs. While they can help drive change, leaders in the healthcare industry should ensure that quality of care is not compromised, and it is important to prioritize patients over financial bottom line. - Reducing waste and increasing efficiency is crucial for ASCs to compete.
ASCs must focus on increasing efficiency and reducing waste to compete with hospitals and private equity threats. This involves several steps such as understanding the culture and context of surgical centers and using technology to engage patients pre-procedure. - ASCs need to be proactive and take control of their own destiny.
ASCs need to demonstrate the value of their services to payers and receive better reimbursement rates. Providers must come together in confederation and provide data and a clear story to demonstrate the value of their services. - Value-based care can lead to improved fiscal health and better patient satisfaction.
Value-based care is focused on improving outcomes for patients and increasing efficiency while holding people accountable to agreed-upon standards. Physicians must be lean and efficient while providing care and strive to improve communication with patients and families.