November/December Issue of Becker's ASC Review
ON THE COVER
The 4 ways ASCs can fail — How to avoid these critical mistakes
While the shift to outpatient surgery is still ongoing, ASCs can still fail if they're not managed properly, according to Regent Revenue Cycle Management. CLICK HERE TO CONTINUE
KKR's $9.9B acquisition of Envision is the biggest healthcare deal in Q2 — Top 5 deals to know
The U.S. health services industry generated 200 deals for the 15th quarter in a row, including several megadeals, according to PwC. CLICK HERE TO CONTINUE
5 new joint venture ASCs — August/September 2018
Here are five new joint venture ASCs with updates in the past couple months: CLICK HERE TO CONTINUE
North Carolina surgical center building sells for $1.93M — 5 details
Winston-Salem, N.C.-based Kokonot Enterprises sold the office building of Winston-Salem-based Novant Health Salem Surgical Associates for $1.93 million, Triad Business Journal reports. CLICK HERE TO CONTINUE
The Leapfrog Group expands ratings to include ASCs, will survey 5K+
The Leapfrog Group is expanding its reach beyond the inpatient setting and launching a survey to collect ASC safety data. CLICK HERE TO CONTINUE
Mark Zuckerberg to sell $13B in Facebook stock to help cure major diseases
Mark Zuckerberg is selling $13 billion in Facebook stock to fund a new goal: curing, preventing or managing all diseases "in our children's lifetime," CNBC reports. CLICK HERE TO CONTINUE
200+ total joint replacement ASC in New Jersey opens new location: 4 things to know
Lawrenceville, N.J.-based Mercer County Surgery Center opened a new location that includes advanced technology for the center's multidisciplinary procedures. CLICK HERE TO CONTINUE
112 ASC benchmarks to know | 2018
Here are 112 operations, finances and quality benchmarks in ASCs gathered from several sources across the industry. CLICK HERE TO CONTINUE
Vascular Institute signs 5-year lease to share ASC with Sacramento Heart — 5 insights
The Sacramento-based Vascular Institute of Northern California owners signed a five-year lease for a 3,834-square-foot medical space, Sacramento Business Journal reports. CLICK HERE TO CONTINUE
ASC MANAGEMENT
CMS final rule includes definition change to add 131 more device-intensive procedures: 5 things to know
CMS proposed several updates to ASC payments in the 2019 proposed payment rule, issued July 25. One of the key changes for ASCs would be to broaden the definition of device-intensive procedures, adding around 131 procedures for Medicare beneficiaries in the ASC setting. CLICK HERE TO CONTINUE
Vascular Institute signs 5-year lease to share ASC with Sacramento Heart — 5 insights
The Sacramento-based Vascular Institute of Northern California owners signed a five-year lease for a 3,834-square-foot medical space, Sacramento Business Journal reports. CLICK HERE TO CONTINUE
The 4 ways ASCs can fail — How to avoid these critical mistakes
While the shift to outpatient surgery is still ongoing, ASCs can still fail if they're not managed properly, according to Regent Revenue Cycle Management. CLICK HERE TO CONTINUE
Anesthesiologist faces up to 10 years in prison for alleged healthcare fraud, denies accusations — 5 takeaways
Adam Arredondo, MD, of Waxahachie-based Texas Anesthesia and Pain Management Institute faces up to 10 years in prison and a $100,000 fine for alleged healthcare fraud, waxahachietx.com reports. CLICK HERE TO CONTINUE
Colorado hospital ends relationship with Vail Summit Orthopaedics: 5 highlights
Frisco, Colo.-based St. Anthony Summit Medical Center declined to renew its contract with Vail (Colo.) Summit Orthopaedics, according to the Summit Daily. CLICK HERE TO CONTINUE
Former orthopedic clinic employee gets 10 years probation after stealing $10K: 4 key points
A former employee was not sentenced to prison, but rather given probation, after stealing more than $10,000 from Columbus, Ga.-based St. Francis Hospital's orthopedic clinic, according to the Ledger-Enquirer. CLICK HERE TO CONTINUE
JOINT VENTURE
North Carolina surgical center building sells for $1.93M — 5 details
Winston-Salem, N.C.-based Kokonot Enterprises sold the office building of Winston-Salem-based Novant Health Salem Surgical Associates for $1.93 million, Triad Business Journal reports. CLICK HERE TO CONTINUE
KKR’s $9.9B acquisition of Envision (AmSurg) is the biggest healthcare deal in Q2 — Top 5 deals to know
The U.S. health services industry generated 200 deals for the 15th quarter in a row, including several megadeals, according to PwC. CLICK HERE TO CONTINUE
5 new joint venture ASCs
Here are five new joint venture ASCs with updates in the past couple months: CLICK HERE TO CONTINUE
How Surgery Partners plans to grow in the next year: 8 key points on strategy
On Sept. 4, Surgery Partners Executive Vice President and CFO Tom Cowhey participated in the Wells Fargo Securities 2018 Healthcare Conference in Boston, addressing several questions about the company's growth strategy and where he sees the best opportunities for the future. CLICK HERE TO CONTINUE
ORTHOPEDICS & TOTAL JOINTS
Stryker purchased Invuity for $190M: 5 things to know
Kalamazoo, Mich.-based Stryker acquired San Francisco-based Invuity, a surgical illumination products company. CLICK HERE TO CONTINUE
Why one orthopedic surgeon started performing outpatient TJRs in the ASC setting
James Van Horne, MD, an orthopedic surgeon specializing in outpatient hip and knee replacements who practices at the Grants Pass, Ore.-based Paragon Orthopedic Center, shared his thoughts on the benefits of outpatient joint surgery at ASCs with DePuy Synthes and the Johnson & Johnson Institute. CLICK HERE TO CONTINUE
200+ total joint replacement ASC in New Jersey opens new location: 4 things to know
Lawrenceville, N.J.-based Mercer County Surgery Center opened a new location that includes advanced technology for the center's multidisciplinary procedures. CLICK HERE TO CONTINUE
How Carilion Clinic’s Dr. T.K. Miller plans to grow his practice & best advice for new surgeons
Thomas K. Miller, MD, is the sports medicine section chief at Carilion Clinic in Roanoke, Va. CLICK HERE TO CONTINUE
Ohio surgery center performs 1K total joint replacements
North Canton-based Ohio Specialty Surgical Suites and Spectrum Orthopedics performed its thousandth total joint replacement surgery, IndeOnline.com reports. CLICK HERE TO CONTINUE
Why private equity deals will become more common for orthopedic practices — Key thoughts from Provident’s Robert Aprill
Although many specialties within physician services have seen years of private equity consolidation, PE firms are now setting their sights on new areas within physician services. CLICK HERE TO CONTINUE
Rothman Orthopaedic Institute adds 5 New Yorkbased surgeons to newly opened New Jersey location: 5 things to know
Philadelphia-based Rothman Orthopaedic Institute continued its growth this year by adding five New York-based surgeons to its soon-to-open practice location in Montvale, N.J. CLICK HERE TO CONTINUE
How K2M will fit into Stryker’s business model — will it affect long term financial targets?
Stryker signed an agreement to acquire K2M last week, a fast-growing spine device company focusing on minimally invasive solutions for complex spinal surgery on Aug. 30 for $1.4 billion. CLICK HERE TO CONTINUE
Medtronic adds to spine business with $1.64B acquisition of Mazor: 6 things to know
After beginning its strategic and equity investment in Mazor two years ago, Medtronic has begun the process of fully acquiring the spinal robotics company. CLICK HERE TO CONTINUE
Steadman Clinic, Vail-Summit Orthopaedics propose 80 to 100K-sq-ft. surgery center
Vail (Colo.) Summit Orthopaedics, Vail, Colo.-based Steadman Clinic, Vail (Colo.) Health and Breckenridge, Colo.-based Howard Head Sports Medicine proposed an 80,000 to 100,000 square foot orthopedic surgery and urgent care center in Dillon, Colo., Summit Daily reported. CLICK HERE TO CONTINUE
The Leapfrog Group expands ratings to include ASCs, will survey 5K+
The Leapfrog Group is expanding its reach beyond the inpatient setting and launching a survey to collect ASC safety data. CLICK HERE TO CONTINUE
GASTROENTEROLOGY
10 key business trends for GI physicians and centers in 2018 & beyond
Here are 10 key business trends for gastroenterologists and GI centers today and in the future. CLICK HERE TO CONTINUE
Gastro Health completes South Florida Gastroenterology Associates acquisition — 5 insights
Miami-based Gastro Health closed its acquisition of Boynton Beach-based South Florida Gastroenterology Associates, rebranding the practice's several locations under the Gastro Health banner. CLICK HERE TO CONTINUE
California Insurance Commission claims AbbVie bribed physicians in $1.2B kickback scheme — 6 insights
The California Insurance Commission is suing AbbVie saying the drugmaker allegedly offered physicians kickbacks for its popular, gastroenterology drug Humira, which resulted in $1.2 billion in fraudulent claims, the San Francisco Chronicle reports. CLICK HERE TO CONTINUE
Takeda closing US headquarters, 1K workers potentially affected — 6 insights
Takeda will close its U.S. headquarters in Deerfield, Ill., and move the work to Boston, the Chicago Tribune reports. CLICK HERE TO CONTINUE
Colorectal cancer 3rd most common cancer, 2nd most deadly — 6 new research insights
The World Health Organization released new cancer tracking numbers, finding colorectal cancer is the third most common cancer in the world and the second deadliest, CNN reports. CLICK HERE TO CONTINUE
SUPPLY CHAIN
10 strategies to streamline ASC supply chain management
Inventory Optimization Solutions shared 10 ways ASCs can improve supply chain management. CLICK HERE TO CONTINUE
5 major developments in the US medical device industry
The medical device industry's global annual sales are projected to grow more than 5 percent annually and reach almost $800 billion by 2030, NASDAQ reports. CLICK HERE TO CONTINUE
Drugs & medical supplies costs at ASCs across the US — 7 statistics
Drugs and medical supplies comprise almost 25 percent of net revenue at ASCs nationwide, according to VMG Health's 2018 Multi-Specialty ASC Benchmarking Study. CLICK HERE TO CONTINUE
What the value-based care shift means for ASC supply chains: 2 Qs with Johnson & Johnson expert
For ASCs — where inventory management looks much different compared to hospitals — the shift to value-based care comes with big opportunities and risks, said Johnson & Johnson Health Care Systems' Ruben Taborda, senior director of supply chain customer solutions. CLICK HERE TO CONTINUE
4 ways to automate an ASC supply chain
Medline's Outpatient Outcomes magazine outlined eight ways ASCs can streamline supply chain ordering with inventory management software. CLICK HERE TO CONTINUE
CODING AND BILLING
ASCs to receive 2.1% increase in 2019 Medicare reimbursement: 6 things to know
CMS released the 2019 final payment rule for hospital outpatient surgery departments and ASCs, including an average rate adjustment on procedures, according to a statement from the Ambulatory Surgery Center Association. CLICK HERE TO CONTINUE
CMS considers nixing ‘burdensome’ ASC, HOPD requirements — 5 notes
CMS proposed eliminating "unnecessary, obsolete or excessively burdensome" Medicare regulations for ASCs and other healthcare facilities. CLICK HERE TO CONTINUE
HEALTHCARE NEWS
Number of medical students pursuing surgery specialty drops by half — 28 statistics
Only 4 percent of medical students surveyed in 2018 said their chosen medical specialty is general surgery, compared with 8 percent in 2016, according to Medscape's Medical Student Life & Education Report 2018. CLICK HERE TO CONTINUE
Sutter Health reports higher operating revenues, income in first half of 2018
Sacramento, Calif.-based Sutter Health saw revenues and operating income increase in the six months ended June 30, according to recently released unaudited financial documents. CLICK HERE TO CONTINUE
Mark Zuckerberg to sell $13B in Facebook stock to help cure major diseases
Mark Zuckerberg is selling $13 billion in Facebook stock to fund a new goal: curing, preventing or managing all diseases "in our children's lifetime," CNBC reports. CLICK HERE TO CONTINUE
Amazon-JPMorgan-Berkshire venture hires consulting firm: 3 things to know
The healthcare venture formed by Amazon, Berkshire Hathaway and JPMorgan Chase has tapped Monitor Group, a global consulting firm based in Boston, to help develop its strategy for lowering healthcare spending by improving care of chronically ill patients, a source familiar with the arrangement told STAT. CLICK HERE TO CONTINUE
Cyberattack forces Indiana hospital to cancel elective surgeries, divert ambulances
Lutheran Hospital in Fort Wayne, Ind., canceled all remaining elective surgeries around 4:30 p.m. Sept. 18, after its IT team discovered a computer virus, wane.com reports. CLICK HERE TO CONTINUE
Money: 10 best places to live in the US
Frisco, Texas, took the top spot on Money's annual list of Best Places to Live in America. CLICK HERE TO CONTINUE
ASC MANAGEMENT
112 ASC benchmarks to know | 2018
Here are 112 operations, finances and quality benchmarks in ASCs gathered from several sources across the industry. CLICK HERE TO CONTINUE
Former orthopedic clinic employee allegedly wrote 100+ pain med prescriptions for herself: 5 things to know
A former nurse at Nashville, Tenn.-based Hughston Orthopedic Clinic at TriStar Centennial allegedly wrote more than 100 prescriptions for pain killers for herself in three years, according to a KREM 2 report. CLICK HERE TO CONTINUE