2019 marked a period of evolution for the healthcare industry, with ambulatory strategy continuing to gain traction as a way to achieve revenue growth in a changing reimbursement environment. Regent Surgical Health tracked these developments, helping keep ASC and hospital leaders informed via blog posts and white papers. The following links to five of the year’s greatest hits:
The Bundled Payment Opportunity
The concept of bundled payments also caught hold in 2019, receiving extensive attention in the industry as well as on Regent’s blog and in a new white paper. Why? Said Chris Stine, Regent Director of Bundled Payments & Corporate Compliance Officer: “Providers and payers are beginning to recognize the opportunity bundled payments offer to greatly reduce the cost of certain high volume, high cost procedures like total joint replacements and spinal fusions. These procedures offer some of the greatest opportunities for savings for the healthcare system.” Click here to continue reading about bundles.
4 Trends Shaping Ambulatory Growth in 2020
The industry’s transformation to value-based care positioned hospitals, physicians, and ASC partners alike for an accelerated outpatient growth in 2019. Regent’s white paper, “4 Trends Accelerating Outpatient Growth” identified and discussed four trends driven by changing regulations, consolidation, openness to partnership, and technology:
- Outpatient Total Joint Replacement
- Physician Practice Partnerships and Acquisitions
- Hospital Physician Alignment Strategy
- Technology/Expertise will Drive Center Financial Performance
The Case for Continual Innovation in Ambulatory Strategy
Since some healthcare systems are moving toward ambulatory strategy faster than others, another Regent white paper showcased the demise of Blockbuster and rise of Netflix to offer six key lessons supporting ambulatory solutions as an innovative new channel for delivering optimal patient care:
- Stay focused on your primary purpose
- Know your customers; ensure alignment as needs change
- Be on the lookout for game changing innovation; brand/business strength is not a defense
- Understand the potential of emerging technology to disrupt the tried-and-true
- Pay attention to price: continual improvement means lowering costs/ price, increasing value
- Be open to new partners
Across all of the major themes of 2019, the moral of the Netflix-Blockbuster story still resonates: success doesn’t happen overnight, and innovation is a process, not an event. Regent CEO Chris Bishop says: “That’s a good lesson for us in healthcare: how can we think more creatively about ambulatory strategy to achieve the triple aim?” Click here to continue reading about The Case for Continual Innovation in Ambulatory Strategy.
Healthcare Execs Say Improving Ambulatory Access Is Primary Interest for 2019:
A report on the Advisory Board’s Annual Health Care CEO Survey said revenue growth was healthcare industry leaders’ top priority, followed by improving ambulatory access. Previous emphasis on sustainable cost control initiatives fell to number five in terms of 2019 priorities. A key quote sums up the story, “Bolstering upstream services is becoming increasingly important as traditional healthcare organizations transition to value-based care.” Click here to continue reading.
Five Dos and Don’ts for Opening or Developing a New ASC
Hospital-physician ASC partnerships gained momentum in 2019, and the idea made the list of dos and don’ts for success developed by Regent’s Stephanie Martin, along with four additional themes:
- DO: Pin Down Volume Commitments
- DON’T: Rely on a Single Specialty
- DO: Drive Evidence-Based Decisions from Quality Reports
- DON’T: Overspend on EMR Technology
Click here to continue reading.
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