Ambulatory Surgery Centers
Specialty Health Partners will work with our physician partners to provide all aspects of the development and ongoing operations of our Ambulatory Surgery Center. The following is a partial list of the key services provided to ensure a long and successful partnership:
Feasibility / Financing
- Feasibility study completed with 5 year cash flow analysis
- Annual budget preparation including 6-months start-up budget
- Third party financial partner review
- Secure limited recourse financing for equipment purchases and tenant improvement costs
- On-site presentation to physicians and facility partners
Organizational Structure
- Work with an established healthcare law firm to provide legal representation for the center
- Form the business partnership (typically an LLC)
- Form the Governing Body
- Guide Governing Body in the selection of Medical Director, Medical Advisory Committee and key staff members as needed
- Guide development and negotiation of Operating Agreement among partners
Building Design and Development
- Select architect and project management services
- Site selection
- Lead lease/purchase negotiations
- Center design and layout
- Project and construction management from start to finish
- Select state-of-the-art medical equipment
- Coordinate style and acquisition of office furniture and furnishings
Operational Systems
- Guide recruitment of core center personnel
- Coordinate structure of daily operations
- Provide policies and procedures and updates
- Prepare Medical Staff Bylaws
- Implement HIPAA Plan and Compliance Program
- Conduct employee orientation and training
- Prepare professional contracts
- Obtain transfer agreements
- Guide selection and implementation of ASC software system
- Order inventory of drugs and medical supplies
- Implement billing and collections training and strategies
- Work with partners on third party payor contract negotiations
- Establish and implement fee schedule with partner feedback
State License and Accreditation
- Research state and local regulations
- Obtain Medicare certification
- Obtain state licensure
- Facilitate accreditation
- Update legislative and regulatory issues
Group Purchasing Organizations
- Interview GPOs
- Review all GPO contracts
- Guide selection of most cost-effective, efficient GPO
- Order and stock supply inventories through GPO
ASC Acquisitions
- Physicians and staff meeting
- Comprehensive market feasibility analysis
- Caseload and types
- Reimbursement / payor mix
- Stark rules
- Safe harbors
- Business plan and proforma
- Asset valuation
- Syndication
- Partnership structure and governance
Resyndication & Reorganization
- Comprehensive market feasibility analysis
- Audit current center performance
- Recommend strategies and options for change
- Analyze competition
- Review staffing
- Business plan
- Recruit new physician partners
- Buyout existing physician partners
Management Services
Specialty Health Partners will work with physician partners and staff to oversee all aspects of your Ambulatory Surgery Center, resulting in a turnkey operational facility.
- Ongoing assistance with third party payor contract negotiations
- Provide monthly / quarterly financial and statistical reporting
- Prepare annual operating and capital budgets
- Guide long-range planning
- Provide key indicator reporting and management, i.e., cost reporting
- Participate on Governing Body to ensure facility's efficient direction
- Work closely with Administrator and Director of Nursing to maintain compliance with systems, policies and procedures
- Review staff evaluations and make suggestions
- Facilitate ongoing hiring, education and training
- Conduct quarterly financial audits
- Provide continual risk management and human resource support
- Assist billing and collections staff
- Monitor patient satisfaction reports
Sale of Center to Corporate Partner
In the event that the partnership makes a decision to sell a percentage of the ASC, Specialty Health Partners will use its past successful experience in this type of transaction to advise the partnership, prepare a comprehensive due diligence package and negotiate with multiple viable prospects. This systematic process will ensure that the best possible model for initial profitability and that the long-term goals of the partnership are achievable.
As part of the management team of Specialty Surgicenters, Inc. the principals of Specialty Health Partners were instrumental in the development, ownership and successful management of 10 ASCs and lithotripsy centers over a 10-year period. After engaging in due diligence with three nationally-recognized publicly-traded companies, SSI sold its multi-million dollar minority equity position in its existing centers to United Surgical Partners International in December 2004.
SSI also assisted its physician partners in the sale of a percentage of their ownership interests to USPI. This created a true Win-Win scenario for the partnership.
