Matt Lau, Senior Vice President of Client Accounting & Financial Services at MedHQ, has been helping ASCs manage their financials for over 20 years. With more than 400 budgets under his belt, Matt has developed a simple, no-nonsense, 4-step process for creating budgets that actually work. In today’s episode, we’ll break down those four steps and hear some great stories and insights from Matt along the way. Whether you’re new to budgeting or just looking to streamline your approach or hear how others do it, this conversation is packed with really great advice.

If you’re looking for more advice on Annual Budget Planning:

 * Check out last week’s episode [https://www.youtube.com/watch?v=c0SNO8Byz54] on Knowing Your Audience with Suzi Walton and Matt Cavanagh
 * Watch MedHQ’s webinar [https://medhq.com/webinars/asc-budgeting/] on Navigating ASC Budgeting with Matt Lau

Brought to you by HST Pathways.

Matt Lau – Annual Budget Planning: 4-Step Process 

We're excited to kick off a brand-new series all about Annual Budget Planning. This is something that every surgery center needs to do to some degree to make sure the following year is successful, and everyone's on the same page. But here's the interesting part: in the conversations I've had while prepping for this series, it's clear that no two ASCs handle budget planning the same way. The process varies widely, and the budget's role in daily operations can look very different depending on the center.

I sat down with Suzi Walton and Matt Cavanagh to get us started. Suzi, the administrator at Ohio Surgery Center, has over a dozen budget cycles under her belt. Matt, a Principal at Clifton, Larson, Allen, has nearly 20 years of experience working directly with ASCs. Together, they shared insights on how your approach to budget planning might shift depending on your audience. Whether you're physician-owned, part of a management group, or involved in a joint venture, Suzi and Matt explain how these ownership models influence the budgeting process.

After my conversation with Suzi and Matt, we'll switch to our Data & Insights segment. In September, HST released our annual State of the Industry report, which analyzed client data from 590 surgery centers. The metric I'm excited to dive into today with you is OR Block Utilization trends. We'll cover what the 2024 numbers showed and tips for improving OR utilization overall.

Resources Mentioned:

 * View the online version of the State of the Industry Report [https://www.hstpathways.com/resources/surgery-center-industry-report/]
 * Request a free, printed copy of the report [https://www.cognitoforms.com/HSTPathways1/RequestAPrintedCopyOfTheStateOfTheIndustryReport]
 * Listen to the podcast episode on Maximizing OR Utilization Through Block Time Optimization [https://www.youtube.com/watch?v=wITXesojrqw]

Brought to you by HST Pathways.

Annual Budget Planning: Knowing Your Audience  

Welcome to the third and final episode of our series on Improving Patient Collections! Over the past two episodes, we’ve explored mastering eligibility and shared valuable tips for post-date of service collections. Today, we’re excited to bring you insights from Marie Yarborough, the administrator at Sequoia Surgical Pavilion in Walnut Creek, California. With over 15 years of experience in healthcare administration, Marie has a wealth of knowledge when it comes to optimizing patient collections. In this episode, she’ll dive into key strategies for upfront collections, how third-party financing can help, the impact of the No Surprises Act, and how technology is transforming the process.

In our news recap, we’ll cover growing concerns from various ASC leaders, a new hospital price transparency bill that if passed will impact ASCs, Walmart’s new pharmacy delivery initiative, and, of course, end the news segment with a positive story about three nurses who went viral for their new CPR training technique.

Resources Mentioned:

ASCs sound alarm on mounting threats [https://www.beckersasc.com/asc-leaders/ascs-sound-alarm-on-mounting-threats.html]

New Hospital Price Transparency Bill in Pennsylvania Could Impact ASCs [https://www.ascassociation.org/asca/news-and-publications/ga-update/2024/10-24]

Walmart adds pharmacy to same-day delivery [https://www.healthcaredive.com/news/walmart-pharmacy-grocery-same-day-delivery/730590/]

Texas Nurses Rock CPR: Using Sabrina Carpenter’s Hit to Save Lives [https://www.dailynurse.com/texas-nurses-rock-cpr-using-sabrina-carpenters-hit-to-save-lives/]

Brought to you by HST Pathways.

Marie Yarborough – Improving Patient Collections: Proven Strategies 

Welcome back to our three-part series on Improving Patient Collections! In our last episode, we were joined by Sayword Hill from Constitution, who shared expert insights on mastering eligibility. This week, while we had originally planned to bring you another guest to dive into post-date of service (DOS) collections, plans shifted due to Hurricane Milton. So, it's just me, Erica Palmer, taking the mic solo to share actionable tips for boosting patient collections after your patients are discharged.

This episode couldn’t have come at a better time! HST recently released our State of the Industry Report, packed with valuable data, including insights on outstanding post-DOS patient bills. I’ll be weaving that data into today's episode as I break down key strategies to improve your collections process and maximize your revenue.

Resources Mentioned:

HST’s 2024 State of the Industry Report [https://www.hstpathways.com/resources/surgery-center-industry-report/]

Brought to you by HST Pathways.

Erica Palmer – Improving Patient Collections: Post-Date of Service 

In this episode, we’re kicking off a three-part series on Improving Patient Collections with Sayword Hill, SVP of Revenue Cycle at Constitution. Sayword shares valuable insights on mastering patient eligibility, ensuring you're not performing procedures on uninsured patients, and helping prevent claim denials.

In our news recap, we’ll cover the opening of a new cardiovascular ASC, the impact of Hurricane Milton on hospitals, how AI is easing the charting burden for nurses, and end on a heartwarming note with the story of conjoined twins who just celebrated their first birthday after a successful separation surgery.

Resources Mentioned:

 * Bon Secours Mercy Health, Compass Surgical Partners, AlignedCardio to Open Cardiovascular ASC [https://ascnews.com/2024/10/bon-secours-mercy-health-compass-surgical-partners-alignedcardio-to-open-cardiovascular-asc/]
 * Hurricane Milton disrupts infrastructure, could trigger more hospital evacuations in Florida [https://www.healthcaredive.com/news/hurricane-milton-hits-hospitals-florida/729463/]
 * How AI could tame the charting madness for nurses [https://www.healthcareitnews.com/news/how-ai-could-tame-charting-madness-nurses]
 * Twin Boys Born Conjoined Celebrate 1st Birthday After Separation Surgery [https://www.usnews.com/news/health-news/articles/2024-10-09/twins-born-conjoined-celebrate-1st-birthday-after-separation-surgery]
 * HST’s 2024 State of the Industry Report [https://www.hstpathways.com/resources/surgery-center-industry-report/]
 * Learn more about HST Clariti [https://www.hstpathways.com/products/hst-clariti/], the solution Sayword and her team use to verify eligibility

Brought to you by HST Pathways.

Sayword Hill – Improving Patient Collections: Mastering Eligibility 

On September 25th, HST Pathways released the 2024 edition of our annual State of the Industry Report. If you're unfamiliar, we launched the report last year to provide best practices, key process steps, and key performance indicators for every stage of the patient journey and the most common administrative tasks in ASCs. What makes this report unique is that it’s built using real data from 590 ASCs across 47 states, giving you free benchmarking tools based on actual performance metrics.

This year’s edition features over 130 KPIs to track, 50 chapters, 36 charts—including 12 year-over-year comparisons—and 5 key emerging trends. Our Senior Director of Data Science and Insights, Will Evans, and Erica Palmer, Director of Content Marketing, created this report, and together, they hosted a webinar to dive deeper into the 5 emerging trends and 13 key benchmarks. In this week’s episode, we’re sharing the full recording of that discussion.

Resources Mentioned:

 * View the 2024 State of the Industry Report [https://www.hstpathways.com/resources/surgery-center-industry-report/]
 * Request a Printed Copy of the Report [https://www.cognitoforms.com/HSTPathways1/RequestAPrintedCopyOfTheStateOfTheIndustryReport]
 * Download the Webinar Slides [https://www.hstpathways.com/wp-content/uploads/2024/10/13-Benchmarks-and-5-Trends-for-ASCs-Insights-from-the-2024-SOTI-Report.pdf]
 * Three Metrics to Drive Your Growth Strategy [https://www.hstpathways.com/blog/three-metrics-to-drive-your-ascs-growth-strategy/]
 * Block Time Optimization [https://www.youtube.com/watch?v=wITXesojrqw]



Brought to you by HST Pathways

13 Benchmarks + 5 Trends for ASCs: Insights from the 2024 State of the Industry Report 

Mike Ferguson, President of Horizon Solutions, joins us to conclude our three-part series on Evaluating Ownership Options for ASCs. As an expert in working with ASCs and OBLs, Mike sheds light on one of the more complex ownership models—when physician owners, a third-party management group, and hospital partners are all involved. In this episode, Mike shares practical strategies for navigating the challenges of balancing different priorities, fostering collaboration, and keeping all stakeholders aligned to ensure the success of the ASC.

In our news recap, we’ll cover ASCA’s comments for CMS on the 2025 proposed payment rule, California’s new Data Exchange Framework, where providers and payers are increasing their IT spending, and, of course, end the news segment with a positive story about Aaron James, a man from Arkansas who received a whole eye transplant.

Articles Mentioned:

 * ASCA Advocates for Changes to CMS 2025 Proposed Payment Rule [https://www.ascfocus.org/ascfocus/content/articles-content/articles/2024/digital-debut/asca-advocates-for-changes-to-cms-2025-proposed-payment-rule]
 * California’s data exchange framework proves government can do big things [https://www.healthcaredive.com/news/california-data-exchange-framework-hhs-mark-ghaly/726634/]
 * Providers and Payers Are Increasing Their Tech Spend — Where Are They Investing the Most? [https://medcitynews.com/2024/09/healthcare-technology/]
 * Man living ‘normal life’ after world-first eye transplant [https://www.positive.news/society/good-news-stories-from-week-37-of-2024/]



Brought to you by HST Pathways.

Mike Ferguson – Evaluating Ownership Options: Navigating Both Management Group and Hospital Ownership

In today's episode, we bring you part 2 of our 3-part series on Evaluating Ownership Options. Last week, we explored working with a Management Services Organization (MSO), and today, we're diving into the benefits of selling a minority share. Jeff Peo from Lifeline joins host Nick Latz to break down the typical ownership split, how it impacts physician autonomy, the financial advantages, and more.

After the conversation with Jeff, we'll shift to the fourth installment of our AI segment. So far, we've explored how generative AI can streamline tasks like staff scheduling, writing patient education materials, improving your website, analyzing data, and presenting findings to your board. Today, we'll go a step further and discuss how you can use Custom GPTs to amplify the impact of AI on your day-to-day operations. Think of it as having a super-smart assistant available 24/7 tailored to your work. We'll walk you through creating one and highlight three practical scenarios where it can make a big difference.

Resources Mentioned:

Lifeline’s Two-Phase Sale Model [https://www.hstpathways.com/wp-content/uploads/2024/09/Lifeline-Two-Phase-Sale-Model.pdf]



Steps to Create Your Own CustomGPT:

 1. Go to ChatGPT and log in. You must have the paid version to create a Custom GPT.
 2. Click Explore.
 3. Click the black Create button.
 4. Click the Configure tab.
 5. Enter your instructions and upload your documents.
 6. Click Save.
 7. Click Confirm.



Brought to you by HST Pathways.

Jeff Peo – Evaluating Ownership Options: Selling a Minority Stake 

James Calligan, President of Phoenix Gynecology Consultants, will kick off our new three-part series about Evaluating Ownership Options today. James runs a Management Services Organization, better known as an MSO, which provides all types of support to its ASC clients. We’re always talking about ASCs that are either independently owned or owned by a management company, but this third option might be an excellent fit for ASCs out there looking for a middle alternative.

In our news recap, we’ll cover top healthcare trends executives are watching, the new partnership between ChristianaCare and Atlas Healthcare Partners, talk through some staffing projections, and, of course, end the news segment with a positive story about a 15-year-old boy who was named Time’s Kid of the Year for his latest invention.

Articles Mentioned:

Top Healthcare Trends of 2024: What Executives Are Watching [https://www.healthleadersmedia.com/ceo/top-healthcare-trends-2024-what-executives-are-watching]

ChristianaCare and Atlas Healthcare Partners to Develop ASC Network [https://news.christianacare.org/2024/08/christianacare-and-atlas-healthcare-partners-to-develop-ambulatory-surgery-center-network/]

Healthcare labor shortage predicted by 2028, with uneven state impacts: report [https://www.healthcaredive.com/news/healthcare-worker-shortage-2028/725865/]

The teen who’s developing a treatment for skin cancer, one bar of soap at a time  [https://www.positive.news/society/teen-developing-treatment-skin-cancer-one-bar-of-soap-at-a-time/]



Brought to you by HST Pathways.

James Calligan – Evaluating Ownership Options: A Deep Dive into MSOs 

Today is the third and final part of our three-part series on how you can optimize the physician experience. Dr. Justo covered the importance of encouraging your doctors to learn new procedures, Lindsay Schulte covered how to ensure you're fully aligned with your doctor's preferences, and Janet Carlson joined us on this episode to discuss improving communication and collaboration. Janet is the Executive Director of ASCs at Commonwealth Pain and Spine, and they have roughly 22 doctors, so she shared tips for removing some common barriers, technology's role, and how they do things at Commonwealth.

After my conversation with Janet, we'll wrap up the episode with the third installment of our AI segment. We've covered ways you can use generative AI to create staff schedules, write patient education materials, handle the heavy lifting when writing post-op instructions, improve your website, and manage your social media content. Today, we'll take it one step further and look at five ways you can use AI to help you analyze data, spot trends, and present your findings to your board or stakeholders.

Brought to you by HST Pathways.

Janet Carlson – Optimizing the Physician Experience: Communication and Collaboration 

If you’re in the ASC industry, then you’re in the right place. Every week our hosts will recap the latest news impacting ASCs, and share an interesting conversation we had with our featured guest. New episodes released every Tuesday!

This Week in Surgery Centers