Physicians are continually seeking ways to strike a balance between their patient care responsibilities, the management of their practices, and their personal lives. One promising avenue to attain this equilibrium is through partnerships with ASCs and ASC management companies. Surgery Partners, an owner and operator of Ambulatory Surgery Centers, offers partnership and management models that empower physicians to maintain their independence, increase flexibility, and realize the personal and financial benefits of a successful practice.
Partnering with Physicians: A Unique Ownership Model
Surgery Partners stands out for its partnership model, by offering physicians and healthcare systems the opportunity to own a portion of the surgery center or surgical hospital. This approach opens a unique income stream that’s often unavailable to physicians outside of facility ownership. This ownership arrangement particularly appeals to physicians with an entrepreneurial spirit who value their independence and a desire to grow their own financial future.
Specialization and Cost Efficiency
One aspect of flexibility that bears mentioning is the ability for physicians to focus on a narrower range of highly specialized procedures. As Neil Badlani, an Orthopedic Spine Surgeon, points out,
“By performing a smaller variety of more specialized procedures [ASCs] are able to increase efficiency when compared to hospitals. In healthcare as in many other industries, specialization has been shown to lead to lower costs.” This approach enables physicians to enhance efficiency with greater expertise and improve patient outcomes.
Ownership and Management Models within ASCs
Surgery Partners offers a range of management models within ASCs to accommodate the diverse needs of owners. A Joint Venture is a shared ownership model that encourages collaboration with an experienced ASC management team such as Surgery Partners. Alternatively, a joint venture can also be established with a hospital or health system that can include varying levels of management support and equity sharing. Surgery Partners acknowledges the importance of independence and advocacy in its management approach, granting physicians the autonomy to make critical decisions and advocate for their peers and patients, regardless of the chosen management model.
Flexibility, Autonomy, and Independence
For Surgery Partners, flexibility is paramount in ASC management. Surgery Partners prides itself on being one of the most flexible management companies because it doesn’t have a standardized management agreement or require a large healthcare system partner. In fact, Surgery Partners’ ownership models are based on several specific needs, all of which vary based on the individual market, the landscape of the community, and the preference of the physician. These ownership models empower physicians with flexibility that allows for autonomy and independence.
The ability for physicians to own or co-own ASCs and collaborate with ASC management companies like Surgery Partners ensures their independence from restrictive employment contracts and eliminates the need for hospitals to dictate where and how they treat patients. As physicians strive to find balance in their professional lives, ASCs offer unique partnership models and management styles that prioritize flexibility, autonomy, and independence. By collaborating with ASCs and embracing innovative ownership structures, physicians can take charge of their careers, enhance their efficiency, and provide more specialized and cost-effective care to their patients. In 2024, finding balance through partnerships with ASCs presents an exciting opportunity for entrepreneurial physicians and those who value their independence in the healthcare landscape.
