Health Technology
Article | September 12, 2023
Anesthesia groups face major challenges in the aftermath of the pandemic: Financially strapped hospitals are increasingly unwilling or unable to pay anesthesia subsidies, and a shortage of qualified anesthesiologists and CRNAs is making recruitment extraordinarily competitive.
The good news is that anesthesia opportunities are plentiful in the ambulatory surgery center (ASC) market. As more inpatient procedures migrate to ASCs, anesthesia practices can help meet demand by working with hospitals and ASCs. A dual-contracting approach can help increase revenue, reduce operational risk, enhance recruiting leverage, and present opportunities for equity investments in ASC ventures.
Expanding ASC Case Mix
Multiple factors are driving increased ASC volume.Consumers have long been attracted to the convenience andfast turnaround timesASCs offer, and as the pandemic began to take hold and patients worried about becoming infected in hospitals, theirpopularityincreased.
But even before the pandemic hit, theuse of ASCs was growing,with the number of centers increasing 7.1% annually since 2016.1No doubt this was in part driven by Medicare restricting fewer surgeries to the inpatient only (IPO) setting. This year alone, Medicare is adding 11 orthopedic procedures to the ASC-approved list, including total knee arthroscopy (TKA) and total hip arthroscopy (THA).2Commercial payersare alsofuelingASC volume by promotingthis venue as a lower-cost option to members.Lastly, with more than 90% of ASCs at least partially owned by physicians,providers themselvesare driving moreprocedures to this setting.
Hospitals Become ASC Buyers
For years, hospitals viewed ASCs as direct competition and discouraged or even prohibited inpatient anesthesia practices from contracting with them. But that dynamic is changing as more hospitals become buyers or majority investors.
According to a recent survey, the percentage of hospitals and health systems planning to increase their investments in ASCs rose from 44% in 2019 to 67% in 2020, with 75% of 200-plus-bed hospitals already owning more than one ASC.3Hospitals view these investments as a way to enhance physician relationships and increase surgical capacity.
The Benefits of Practice Diversification
For anesthesia practices that elect to contract with both hospitals and ASCs, a key benefit is improved profitability, since average ASC case reimbursements are higher than average hospital cases due to better payer mix and more efficient room turnover. Groups that work with multiple organizations also reduce their institutional or operational risk by limiting their exposure to potential financial problems associated with a single contracted entity.
Practices likewise gain an edge when it comes to recruiting in today’s highly competitive anesthesiologist and CRNA market. One of the chief benefits of ASC involvement is being in a position to offer a better work-life balance by spreading call responsibilities across a larger physician call pool. The math is simple: If a hospital group has seven physicians, each must provide call coverage once a week. But if the group also contracts with five ASCs and brings on five additional doctors to staff the facilities, individual call responsibilities are reduced to once every 12 days.
The importance of mitigating call duties to improve the work-life balance for both experienced clinicians and new hires can’t be overstated, particularly as hospitals work to streamline OR throughput by increasing the number of surgical procedures. Groups can also explore a range of creative compensation approaches, including essentially selling call opportunities to newly hired or recent graduate anesthesiologists as additional avenues to attract qualified clinicians while easing the burden on senior anesthesiologists.
Equity Opportunities
Among the most intriguing aspects of ASC involvement is the potential for becoming an equity stakeholder in the business. Surgeons traditionally have been the primary drivers in creating ASCs, but new opportunities exist for anesthesiology groups, particularly if their hospital is buying an existing ASC or developing a new ASC venture and looking to diversify the ownership group.
The idea of anesthesia ownership isn’t as crazy as it might sound. Like surgeons, anesthesiologists are integral to the success of an ASC, and like surgeons, they get there early and stay late. It’s no secret that joint ownership can greatly improve relations between the practice and the hospital, since both are now working toward the same objectives.
Groups can also make more money. I met with a surgical group not long ago with a 49% ownership stake in a hospital. That equity generated an additional $80,000 per year for each physician partner. How much you can make, of course, depends on your specialty, your level of ownership, and the volume of business. But you’ll never know until you try.
Outside Expertise
The pandemic has unleashed numerous changes throughout healthcare, and where the dust will eventually settle isn’t entirely clear. But what is certain is that for organizations to remain viable, they’ll need to be flexible and look hard at nontraditional business opportunities. Contracting with both hospitals and ASCs represents one such approach for anesthesia groups.
If you’re interested in exploring this and other business possibilities but don’t know where to start, Change Healthcare can help. Our team of expert anesthesia practice-management consultants have an average of 18 years’ experience in the specialty. We can be engaged on a per-project basis or we can provide our consultant services as part of our turnkey anesthesia-billing solution.
Our anesthesia revenue cycle management services can be deployed either on our own proprietary anesthesia-billing platform or on your hospital billing system. Either way, we’ll provide seamless, end-to-end service.
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Health Technology, Digital Healthcare
Article | September 7, 2023
A cruelly ironic truth is that nurses and other caregivers assisting injured and ill patients often wind up injured themselves. In fact, the caregiver profession has among the highest rates of injury, with back injuries being the most common and the most debilitating. Every year, more than 10% of caregivers leave the field because of back injuries. More than half of all caregivers will experience chronic back pain.
Most back injuries to caregivers happen when lifting patients from beds or wheelchairs. Injuries can occur instantly, but they can develop over time as well, often without the caregiver’s awareness. For example, the caregiver can sustain disc damage gradually and not feel any pain, and by the time he or she does experience pain, there can already be serious damage.
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Health Technology, AI
Article | July 18, 2023
There are times that we encounter negative thoughts that can be overwhelming.
For some people, the more they try to get rid of their thoughts, the stronger they become.
As a result, here is a brief list of techniques that a person can use to help manage their negative thinking.
1. Do not focus on your fearful thinking: The first thing a person must do is not to dwell on the fear provoking thought when it comes. The more a person tries to reason out on the fear behind the thought, the stronger it becomes. The next time you encounter a negative situation, get into the practice of not dwelling on it.
2. Think of a red stop sign: At times, a person might encounter a fearful thought that may be difficult to manage. When this happens, visualize a red stop sign which can serve as a reminder to think about something else. Regardless of how scary your negative thinking may be, do not dwell on it. This technique is great in dealing with your negative situations and depression.
3. Its only fear: The difference between an obsessive thought and a regular one is that an obsessive thought is based on fear. With this in mind, try to find the source of the fear behind your negative thinking and then find ways to get rid of your worries.
4. Your thoughts are exaggerated: Sometimes, a person may encounter a lot of scary thoughts coming at them all at once. Instead of getting upset, remember that your negative thinking is exaggerated with worry. Ignore the fear behind these obsessive thoughts, regardless how the strong the fear may be.
5. Challenge your negative thinking with positive statements and realistic thinking: When encountering thoughts that make you fearful or depressed, challenge them by asking yourself questions that will maintain objectivity and common sense. Focus on the reality of your situation and not on your negative thinking.
6. Carry a small notebook of positive statements with you: A person should keep a small notebook of positive statements that makes them feel good. Whenever they come across a positive and uplifting verse that makes them happy, write it down in a small notebook. A person can then carry this notebook around in their pocket and whenever they feel anxious, they can read their notebook.
7. Take it one day at a time: Instead of worrying about how you will get through the rest of the week or month, try to focus on today. Each day can provide us with different opportunities to learn new things and that includes learning how to deal with your situation. In addition, you will not feel overwhelmed with everything if you focus on one thing at a time.
8. Get help: Take advantage of the help that is available around you. If possible, talk to a professional who can help you manage your fears and anxieties. They will be able to provide you with additional advice and insights on how to deal with your current problem. By talking to a professional, a person will be helping themselves in the long run because they will become better able to deal with their problems in the future.
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Article | April 16, 2020
Virtual care and telehealth are no longer seen as merely an innovative method of delivering healthcare; technology is now indispensable to protecting patients, staff, and PPE resources amid the coronavirus pandemic. In a recent Harvard Medical School blog, Lee H. Schwamm, MD, shared that “telehealth, the virtual care platforms that allow health care professionals and patients to meet by phone or video chat, seems tailor-made for this moment in time… The current crisis makes virtual care solutions like telehealth an indispensable tool.” He believes that the role of telehealth is vital to our country as “it can help flatten the curve of infections and help us to deploy medical staff and lifesaving equipment wisely.”
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