As the ASC industry becomes increasingly consolidated, three ASC leaders shared with Becker's what they are looking for in mergers and acquisitions.
Editor's note: Responses have been lightly edited for clarity and length.
Larry Sobal. CEO of Heart and Vascular Institute of Wisconsin (Appleton):
I would like to see a modernization of Stark and anti-kickback rules, which get in the way of arrangements which could be beneficial in reducing cost, improving access and improving work environments for physicians and staff.
Melissa Hermanson, DNP. Administrator of Ambulatory Care Center (Vineland, N.J.): Independent centers that are facing a merger or acquisition scenario are hoping to maintain some autonomy and continue providing care without disruption. They want to have a shared mission and vision. Most centers have evaluated their strengths and weaknesses and want to continue their best practices while having the support and resources to work on the opportunities for improvement. Many of these deals are forced due to the economic climate surrounding payor mix, reimbursements, and anesthesia costs. Centers want assurance that patient safety and quality of care will not be compromised for profits.
Robert Nelson, PA-C. Former Executive Director of Island Eye Surgicenter (Westbury, N.Y.): As a clinician, administrator and industry consultant, private equity-acquisition groups need to keep their focus equally on three important principles for success: patient care, organizational culture and bottom-line business processes. Neither of them should take precedence over the others. Historically, the acquiring company usually places the most emphasis on business processes and operations, resulting in a significant impact on patient care and organization culture. Yes, the merger needs to have an upside for all stakeholders. But never at the expense of patient care, patient safety and the morale of our important team members.