What are the benefits of partnering with Surgery Center Partners?
Owning an ambulatory surgery center can be an excellent way to increase a physician's income, without adding to his or her workload. Acquiring passive income through facility fees is a good business decision. And while it might be tempting to think that even more could be earned if a group of physicians opened a center on their own, without involving a management company, there are significant advantages to working with an experienced partner.
These advantages include:
No Increase in Workload
Planning, developing, and operating a successful surgery center is a complex undertaking that requires a unique set of skills, knowledge, and experience in areas such as law, finance, real estate, construction, licensing and accreditation, staffing and personnel management, equipment and supply procurement, payor contracts, and billing. Physicians who try to "go it alone" run the risk of increasing their already heave workload in order to overcome the steep learning curve required to open a center. This is not a good use of a physician's time and talent.
No Stress
The right management company can provide a turnkey solution that is hassle-free. Allowing an experienced team with all of the required skills and knowledge to plan, develop, open, and manage a center can save a lot of headaches. Working without a management partner, physicians can make costly mistakes that require a lot of time and energy to correct. An ambulatory surgery center should provide increased income, without adding stress.
Higher Reimbursements
Negotiating favorable contracts with payors is critical to obtaining the highest reimbursement rate for the services provided at a center. A team with a thorough understanding of managed care methods, group plan contracts, legal and liability issues, and a record of successful fee schedule negotiations can be invaluable. When a physician tries to personally handle these negotiations—or assign them to a staff member—the result can be a much lower income stream.
Lower Costs
Obtaining favorable pricing from equipment, supply, and service vendors can yield significant savings that directly impact the bottom line. Procurement professionals working for a management company can obtain favorable pricing through contract negotiations and bulk purchasing discounts. They also can evaluate vendor performance and implement inventory control measures to contain costs without sacrificing service quality.
Conclusion
Business decisions should be made on the basis of obtaining the best possible return on the time and money invested. It's important when opening a surgery center that physicians make a wise, long-term decision that takes all factors into account. The benefits of working with a management company that brings valuable services to the partnership can far outweigh the revenue shared. Owning a center should enhance a physician's lifestyle by delivering greater income and increased control over scheduling—without headaches and added work. Surgery Center Partners can make this goal a reality.
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