How to Leverage Your Advisor Team Part II

David B. Mandell, JD, MBA

Savvy ASC owners typically expand their businesses by adding employees, making additional investments, and adding services.  These additional steps to increase profitability also increase the complexity of their businesses – and for the owners, their personal financial planning.  This complexity necessitates a team of advisors for assistance.

In part I of this article, I discussed the reason why a successful ASC needs a team of knowledgeable and diverse advisors. Here, in part II, I will explain the roles of three key outside advisors who may impact the financials and protection of the center.

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Medicare Only Pays in Full for Negative Colonoscopies

As the Affordable Care Act (ACA) takes effect, health care providers are experiencing some unintended billing consequences. One procedure that creates confusion for patients as well as providers concerns colonoscopy billing for Medicare patients. Here’s what medical practices need to know about this untidy (and sometimes expensive) little coding snarl. [Read more...]

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5 Cost-Reduction Strategies to Improve Your ASC Profitability

Studies in recent years show that Ambulatory Surgical Centers (ASCs) continue to grow, with statistics showing many ASCs are seeing a growth in case volume. However, while ASCs are a popular choice, those that under-perform and fail to bring in significant profits face closure. While ASCs provide competition for local hospitals, hospitals are also a threat to the success of ASCs. Both ASCs in financial trouble and those working to avoid financial problems need to find the best strategies to improve ASC profitability. The following cost reduction strategies offer ASCs a quick way to enjoy better profits, improving their overall chance of success.

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The 4 sessions We’re Most Excited About at ASCA Meeting 2014

ASCA 2014 in Nashville

Ambulatory Surgery Center Association Annual Meeting 2014

May 14 – 16

Gaylord Opryland

Nashville, TN

Where can I find abeo? Booth 614

Official ASCA Meeting 2014 Website: http://www.ascassociation.org/ASCA2014/Home

abeo loves going to Nashville. Not only because the Grand Ole Opry is a national treasure, but because we’re excited about this year’s Ambulatory Surgery Center Association, ASCA Meeting 2014. With so many specialists and featured speakers showing up to discuss the future of ASC industry, we love taking part in the mainstream discussion and providing solutions that drive ASCs forward.

While there are more than 50 presentations and speakers to choose from, we wanted to let you know which ones we’re excited about the most. These are sessions we believe are valuable in changing perspectives and helping ASCs learn a few more things about becoming profitable.

Take a look at these, and we’ll see you there! [Read more...]

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President Signs the Protecting Access to Medicare Act of 2014

President Obama signed the Protecting Access to Medicare Act of 2014 into law on April 1, 2014The Protecting Access to Medicare Act of 2014 maintains the 0.5% for services for the period of April 1 through December 31, 2014 and provides a 0% change to the 2015 Medicare Physician Fee Schedule (MPFS) through March 31, 2015. This law prevents the scheduled payment reduction for healthcare providers treating Medicare patients through March 31, 2015.

More Medicare provisions will be forthcoming from the Centers for Medicare & Medicaid Services (CMS). Below is an excerpt taken from the MLN Connects™ Provider eNews published and distributed to subscribers. Subject: President Obama Signs the Protecting Access to Medicare Act of 2014 on Wednesday, April 2, 2014. To subscribe to this eNews visit this link. [Read more...]

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How the Bill Passed Monday Affects abeo and Our Clients

The vote is final. The House of Representatives and the Senate have passed the bill to delay scheduled cuts to physician payments under Medicare and delay the massive switch to ICD-10 billing codes. “So how does it affect abeo and our clients?” I’m sure it will come to no surprise to hear the full impact is yet to be determined. Briefly, here is why.

  1. It’s April 1 and physicians are not waking up to face a 24% cut in Medicare payments, but this is the 17th patch to Medicare’s sustainable growth rate (SGR) payment formula. This leads many to ask the question, “Will Congress repeal the SGR?” It’s still to hard to say, we expect the pain for providers and the drama of the SGR to continue.
  2. The switch to ICD-10 is delayed until at least October 1, 2015. The true length of the deadline is yet to be determined. Some even speculate it will never happen. Expect more insight to follow in the coming months as CMS, AMA and other large players discuss a different date that everyone can be on board with and agree on.

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SAMBA Annual Meeting to be Held in Baltimore

We’re going to Baltimore this month. Are you?  abeo is taking part in two of our industry’s most important conferences of the year this month, so we want to fill you in on the when, what and why you should consider attending.

This year’s Society for Ambulatory Anesthesia (SAMBA) 2014 Annual Meeting will take place on the beautiful Baltimore Harbor from April 24-27. The SAMBA meetings provide you with the latest clinical content and innovative tools that help advance your ambulatory anesthesia practice into the future. Founded in 1985, the Society for Ambulatory Anesthesia is one of the fastest growing anesthesia organizations. SAMBA responds to the education and research needs of perioperative physicians practicing ambulatory anesthesia. [Read more...]

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MGMA Anesthesia Conference: abeo Featuring Our Anesthesia Billing Systems

Need a reason to attend MGMA’s Anesthesia Conference?  Well, aside from the great social events and being in San Francisco!  abeo can give you 2 reasons, 1. We have not one but two billing management software platforms so you can find the best fit for your anesthesia practice. 2. We also provide anesthesia billing and practice management services. So if your anesthesia practice hasn’t done their due diligence lately to check out other billing systems or practice management services, there’s no better time! [Read more...]

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Anesthesia Group Mergers Causing Compensation Issues

The passing of the Patient Protection and Affordable Care Act has led to an increase in mergers among healthcare groups, including anesthesia practices. The goal of these anesthesia group mergers is to increase and maintain strength in a changing medical industry, keeping jobs secure as well as ensuring continued revenue. Such mergers can offer attractive benefits, such as increased visibility in the marketplace, expansion of customer bases, and even increased revenues. However, they also cause very real challenges, not only for the practices that must combine but also for the individual anesthesiologists who provide the day-to-day care. Are anesthesia group mergers causing compensation issues? In some instances, yes. [Read more...]

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The Perioperative Surgical Home: Broadening the Anesthesiologist’s Scope of Practice

Perioperative Surgical Home Overview

(C) American Society of Anesthesiologists, Visit Their Official Website at: www.periopsurghome.info

 

 

 

 

 

 

 

 

A new model of patient-centered care has been proposed by the American Society of Anesthesiologists. Their innovative concept is called a Perioperative Surgical Home (“PSH”), which has the potential to offer significant benefits to surgical patients as well as to their medical caregivers and all stakeholders in the healthcare provision network.

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