Key Takeaways from Becker’s ASC Conference: Elevating Business and Clinical Strategies for ASCs

The 30th Annual Becker’s ASC Conference delivered interesting insights on the future of ambulatory surgery centers, highlighting innovative strategies to enhance both business operations and patient care. With a focus on how ASCs can harness digital transformation, streamline RCM, and navigate evolving healthcare models, this year’s conference brought together ASC leaders to explore paths toward growth and resilience. Here are some key takeaways for ASC administrators looking to optimize financial performance, improve patient outcomes, and prepare for the future.

1. Future-Proofing ASCs: Strategic Planning and Growth Opportunities

The healthcare landscape is constantly changing, and ASCs must proactively position themselves for long-term success. Sessions on future-proofing highlighted the importance of strategic planning to withstand both industry disruptions and economic uncertainties.

Key takeaways emphasized that ASCs should focus on specialization and expanding services to tap into high-demand areas. As outpatient surgeries grow in popularity, adding in-demand specialties can help ASCs attract a broader patient base and increase revenue. Panelists also discussed geographic expansion as a growth strategy, particularly in underserved areas, which could open new patient pipelines while enhancing access to surgical care.

Implementing robust data analytics tools was another crucial point. By leveraging data-driven insights, ASC leaders can identify trends in patient outcomes and operational efficiency, enabling better decision-making for future growth. Overall, adopting an adaptable business model is essential for ASCs aiming to stay competitive and sustainable.

2. Digital Transformation: Enhancing Patient Care While Boosting Financial Health

One of the standout sessions, “Make Digital Transformation a Win for Patients and Budgets,” brought together Dr. Jared Weir and other healthcare experts to discuss how digital tools are reshaping ASC operations. This session highlighted the value of leveraging technology to reduce operational costs, simplify administrative workflows, and improve patient care.

Incorporating digital solutions enables smaller practices to maintain high performance with fewer resources. Panelists shared success stories of implementing AI-driven clinical tools and remote patient monitoring, which reduce overhead and enhance patient experience by streamlining interactions and follow-ups. These technologies, especially remote monitoring, allow staff to support more patients efficiently, freeing up resources for other priorities.

A key challenge discussed was the overwhelming amount of tech solutions in the market, with some experts cautioning against jumping into AI without a clear understanding of its impact. As Dr. Weir pointed out, “The future is very bright for AI when used correctly, but right now, how is it improving patient access and efficiency?” For ASCs, it’s essential to critically assess the ROI of digital tools and select technologies that align with their operational needs, with particular attention to how these solutions can impact patient access and satisfaction.

3. Optimizing Financial Success with Targeted RCM Metrics

With ASCs under pressure to maintain profitability amidst rising costs and payer demands, optimizing RCM processes has become more crucial than ever. Many sessions emphasized the importance of tracking specific financial and clinical KPIs that provide a comprehensive picture of ASC performance.

Among the most important KPIs discussed were clean claims rates, revenue realization, and patient satisfaction. By continuously monitoring and optimizing these metrics, ASC administrators can enhance financial efficiency and drive faster payment cycles. Additionally, incorporating automation for tasks like eligibility verification, claims processing, and payment posting allows ASCs to reduce human error and improve cash flow, ultimately enabling better financial outcomes.

Speakers noted that automating repetitive RCM tasks is a strategic advantage, reducing labor costs and giving staff more time to focus on patient care. AI-driven tools can assist in this, for example - Thoughtful’s AI Agent EVA automates eligibility verification with accuracy and speed that’s superior to human teams, ensuring compliance and enhancing the patient experience. This shift towards automation in RCM can significantly impact ASCs’ bottom line, leading to faster, more reliable reimbursements and lower administrative expenses.

4. Navigating Value-Based Care Models in ASCs

As healthcare moves toward value-based care, ASCs are shifting to prioritize patient outcomes and satisfaction alongside financial success. Conference sessions highlighted practical ways ASCs can thrive in a value-based environment by aligning RCM strategies to support outcome-based reimbursement models.

Value-based care requires ASCs to implement data-driven approaches to track patient outcomes, satisfaction levels, and cost-efficiency. Panelists discussed the importance of outcome-based billing and patient engagement tools that measure and report on critical patient health metrics. By adopting these practices, ASCs can offer transparency in care and costs, which is becoming increasingly attractive to patients seeking quality care at a lower cost.

Implementing VBC metrics allows ASCs to adjust practices based on performance data, ensuring alignment with payer expectations and enhancing overall care quality. This model not only boosts patient satisfaction but also positions ASCs to benefit from incentives linked to outcome-based reimbursement. With patient experience becoming a central factor in revenue strategies, ASCs focusing on VBC will be better equipped to meet both patient and payer demands.

5. Leveraging AI in ASCs: Real-World Applications for RCM Success

One of the most anticipated topics was the application of AI in ASC operations, particularly in RCM processes. The session “ASCs Winning with AI: Real-World Success Stories in the Revenue Cycle” offered tangible examples of AI tools that streamline administrative processes and elevate financial performance. Attendees heard how AI-driven solutions are helping ASCs manage claims denials, automate eligibility checks, and optimize claims processing workflows, all of which reduce manual work and accelerate payment cycles.

Panelists shared real-world success stories, including the use of AI Agents to reduce manual claim processing by up to 95% while achieving near-perfect accuracy in eligibility verification. While AI can improve efficiency and accuracy, experts advised ASCs to carefully evaluate potential solutions, ensuring they meet the unique needs of their workflows. AI Agents are not just a cost-saving measure; they represent a shift towards a more agile, data-driven operational model that enables ASCs to better manage the financial and administrative challenges of today’s healthcare landscape.

Conference Takeaways

Becker’s ASC Conference emphasized the critical role of strategic planning, digital transformation, and value-based care in the evolving ASC sector. By leveraging technology, focusing on targeted RCM metrics, and embracing value-based care models, ASCs can improve both operational efficiency and patient outcomes. As the healthcare landscape continues to change, these insights provide ASCs with actionable strategies to stay competitive, improve the quality of care, and drive long-term success.

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Published On:

December 6, 2024

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