Orthopedic Care Partners (OCP) has a new top executive – and some added financial firepower for him to work with. The Gainesville, Florida-based orthopedic practice management platform announced Thursday that Dr. Tim Corvino is taking the helm as CEO. Corvino is the former CEO of Spire Orthopedic Partners. The same day, OCP announced a growth recapitalization transaction, inclusive of a $185 million hybrid capital raise provided by Brookfield Asset Management through its Brookfield Special … [Read more...]
Mount Sinai, US Anesthesia Partners Team Up to Support New Anesthesia Practice Serving ASCs
There’s a new anesthesia practice for one of health care’s largest markets – and it has its sights set on ambulatory surgery centers (ASCs). Mount Sinai and U.S. Anesthesia Partners Inc. on Thursday announced the formation of the new venture, officially branded as Greater New York Anesthesia Services (GNYAS). Moving forward, GNYAS will serve ASCs as well as “select Mount Sinai hospitals in conjunction with the Mount Sinai Department of Anesthesiology, Perioperative and Pain Medicine,” the … [Read more...]
Vast Majority of Hospitals Plan to Grow Their Ambulatory Surgery Center Portfolios
Hospital ambulatory surgery center (ASC) investment activity is surging. That’s according to the soon-to-be-released Annual Hospital Leadership ASC Survey from Avanza Healthcare Strategies. HST Pathways previewed some of the major takeaways from the report in a LinkedIn post on Dec. 4. HST Pathways is a Nashville, Tennessee-based company that provides software and data services for the ASC market. On its end, Avanza Healthcare Strategies provides consulting services to hospitals, ASCs and … [Read more...]
‘We’re Really Going to Get on the Ball Very Early in the Year’: ASC Leaders Eager to Engage Trump Administration on CMS Rulemaking
After a somewhat disappointing rulemaking cycle for ambulatory surgery centers (ASCs) this year, 2025’s discussions with federal regulators will become all the more important. And a return to a Trump administration means ASC stakeholders will need to start those conversations sooner rather than later. “We're really going to get on the ball very early in the year in 2025,” Kara Newbury, chief advocacy officer for Ambulatory Surgery Center Association (ASCA), said during a recent podcast … [Read more...]
CMS Proposes New Medicare Advantage Policies, Seeks Coverage for Weight-Loss Drugs
GLP-1s and Medicare Advantage (MA) are two potential headwinds for ambulatory surgery centers (ASCs), with each undoubtedly playing a larger role in 2025. Partly because of this increasingly prominent standing, the U.S. Centers for Medicare & Medicaid Service (CMS) proposed new policies related to both GLP-1s, or glucagon-like peptide-1s, and MA on Nov. 26. “This proposed rule includes more policies to remove unnecessary barriers to care stemming from the use of inappropriate prior … [Read more...]
Amid Mounting Compliance Risks, ASCs and Other Health Care Organizations Are Forced To Do More with Less
As cyberattacks become more frequent and the pace of regulatory change accelerates, investing in strong compliance programs is critical for ambulatory surgery centers (ASCs). But that’s easier said than done. ASCs are often forced to do more with less, as reimbursement cuts, wage increases, inflation and other financial pressures strain surgery centers’ bottom lines. This dilemma – investing in compliance when financial resources are scarce – is a commonality that many health care … [Read more...]
OrthoCarolina Adds to ASC Footprint, Buys Matthews Surgery Center
OrthoCarolina has acquired Matthews Surgery Center from health care network Novant Health. Financial terms of the deal – made official on Oct. 1 – were not disclosed. OrthoCarolina will now own, operate and manage the ambulatory surgery center (ASC) moving forward. “We deeply value our longstanding relationship with Novant Health, whose collaboration has helped ensure access to high-quality, affordable care for our patients," OrthoCarolina Chief Administrative Officer Bob Raspa said in a … [Read more...]
CHRISTUS Health Inks ASC Joint Venture
The ambulatory surgery center (ASC) joint venture landscape continues to heat up. Earlier this month, CHRISTUS Health and Kerrville Surgery Center announced they had finalized a joint venture to provide specialized surgical care to the Texas Hill Country as CHRISTUS Surgery Center. “Since opening its doors, 16 years ago, Kerrville Surgery Center has delivered high-quality care in a friendly, patient-focused setting,” Gary Ruff, vice president of ambulatory surgery centers for CHRISTUS … [Read more...]
With an Average Net Revenue Per Case of $6,419, Orthopedics Again Proving Profitable for ASCs
For ambulatory surgery centers (ASCs), the No. 1 focus is typically outcomes and delivering high-quality care. Following closely behind that: profitability. A recently released report from ASC software company HST Pathways offers new insights into that secondary focus, with exclusive data on key financial and performance trends such as average net revenue per case and operating room (OR) turnover time per speciality. “Before proceeding with any case, surgery center administrators must … [Read more...]
US Heart & Vascular Teams Up with Birmingham Heart Clinic
U.S. Heart & Vascular (USHV) has partnered with Birmingham Heart Clinic, a 15-physician group focused on providing a full spectrum of cardiovascular care. Formed in 2021 and based in Nashville, Tennessee, USHV specializes in cardiovascular care, with ASCs a key part of its overall strategy, allowing the organization to provide outpatient procedures in a convenient and cost-effective setting. "We are incredibly excited to welcome Birmingham Heart Clinic to the USHV family,” CEO Robbie … [Read more...]