Successful Ambulatory Surgical Centers!
Ambulatory Services Centers (ASCs) otherwise also known as outpatient surgery centers are becoming popular with their usage being very high and well aligned with a trend that is more patient-driven than ever before. Patients are clamoring for quality services in an organization that values quality as far as medical care is concerned. What’s more is that they want all this at a very affordable and competitive price. It is up to the ASCs to live up to the expectations of the patients using the latest in medical technology to provide skilled surgical procedures in the most cost effective ways possible. Instead of a win-win situation for the ASCs or patients, it is more of a win-win situation for both that is the need of the day.
Having perfected an effective model, the ASCs have grown significantly in the past 4 decades or so. As per the IBISWorld, the global business intelligence leader which reports that the emergency and outpatient care industry will emerge as one of the most important players in the system (healthcare delivery). Consumers are focusing more on quality, cost and convenience. The predictions are that the industry revenue is set to exceed $103 billion by 2019. With a steady increase in the aging population, there is no dearth of demand in procedures, and thanks to advances in technology, better treatments are assured.
The ASCs are all set to succeed in the current scenario, and along with success follows stiff competition with service centers jostling for space and attention of consumers. All along, the trend has been that ASCs have been either owned by physicians or by investor groups. However, the new trend points to hospitals that are either keen to purchase surgical centers that are already doing well, or to develop surgical centers of their own, given the steep increase in demand predicted for the future. The challenge though is to remain efficient and competitive, with value-pay models dominating the scene. It is the pressing need today for physician owned ASCs to focus on patient experience and stay ahead of the regulatory curve which can ensure a healthy ROI.
Patient Experience makes the difference
It is any ASCs primary goal to attract needy patients, expert surgeons, and efficient staff in order to ensure success in operations. With the fast changing payment landscape, most of the larger hospitals prefer to have their own outpatient centers and are prepared to invest heavily in operational efficiencies in order to create the crucial market differentiation. The focus is to invest in technology that can help improve operating procedures. This keeps the patients happy as they have to spend less time at the centers and also enhances the turnaround time of the centers, making them more efficient. There are several areas of improvement, where the centers can give the patients a better experience.
A smooth billing process
Most ASCs that have outsourced their billing have managed to retain a strong foothold with a billing process that ensures faster reimbursements. With an expert team handling the billing and coding, ASCs can now focus on the core task, of treating patients. Thus, errorless claims and complete reimbursement for services rendered have increased profitability for ASCs.