At athenahealth,
we know your ambulatory practice wants healthier, a
healthier business, healthier care teams, and healthier patients.
But the complexities of modern health care tech
make it hard for you and your care
teams to focus on what matters
most? That's where athenahealth can help. Our AI
native all in one solutions reduce administrative burdens,
streamline billing and payments, and deliver critical insights
when clinicians need it most. That means fewer
clicks, more time for patients, and stronger bottom
lines.
Practicing medicine is complex, but running a practice
can be that much simpler with athenahealth.
See how simpler is healthier@athenahealth.com.
Hello. This is Franchesca Matthews with the Becker's
ASC review podcast.
I'm thrilled to be joined today by Vijay
Bachchani,
president and chief chief growth officer of New
York Bariatric Group. Thank you so much for
being here today. Thank you for having me.
Yeah. To start us off, could you just
introduce yourself and tell us a little bit
about your background?
Sure.
So, I'm, currently president and chief growth officer
at New York Bariatric Group.
We're the largest bariatric platform in the country.
We're in five states, New York, New Jersey,
and Connecticut, as well as Arkansas and Oklahoma.
And we also have four surgery centers. So
we have a surgery center,
in
Arkansas,
one in Long Island,
one in Paramus, New Jersey, and one in
Stanford, Connecticut.
And my background, I've been here about nine
years,
kind of really
led the growth, of the company for the
last nine years,
and very different today than than when I
first started.
And, you know, really responsible for strategy,
growth, business development.
I lead the hospital
negotiations.
I also assist in the payer negotiations.
We've done several acquisitions of the last, few
years. I've I've led those acquisitions as well.
And, prior to this, I spent,
two years,
at a hedge fund.
And prior to that, I spent six years
at a health IT incubator where we took
a product
from inception to exit, and we sold to
a fortune 500 company. So,
I think I have a decent mix of
health care and finance, and I guess that's
why,
I'm here. But but out of all my
jobs, I've I've loved this the best, and
I find this has the most opportunity.
Yeah. Awesome. Great great rundown there. It's always
always great. I spent amount of time talking
to
to people on more of the physician side
of things, so I'm always really interested to
hear more,
more from your perspective.
What are the top three trends that you're
following in health care and ASCs today?
Yeah.
So I'll I'll give you more than three,
but just general trends I'm following. You know,
obviously,
procedures coming off the inpatient only list.
We always have an eye on that.
The increase or the rise in,
self funded employers.
Right? So the rise of the ASO model,
we're seeing more and more
employers
being, you know, self funded. And and with
that, there's opportunity. Right? There's opportunity to go
direct as well.
And we do have bundle agreements with several
employers,
increased price transparency. I think that's good for
everybody.
And we definitely,
use that to our advantage in terms of
negotiating with payers because we know exactly
what the hospitals are getting paid,
and the services that we're providing.
And then just general consolidation.
Right? It it's very difficult,
I think, for the independent physician practice.
And, you know, they're not gonna get rates
from the payers.
Hospitals are acquiring primary care folks, and physicians
and tell them to refer internally.
So in that kind of environment, you know,
how does how do you succeed? Right? So
for us,
we we are, you know, we are back.
We do have outside investors, but, nevertheless,
you know, it's all about understanding,
like, who has leverage and how to negotiate.
And that's something that, you know, we've kind
of learned and improved upon over the years,
but it's it's tough out there for for
for, you know, the independent practice to survive
this kind of environment.
Mhmm. Yeah. Absolutely. That question of kind of
leverage and negotiation is definitely something we get
into a lot here and,
something our
audience really, you know, is talking about a
lot.
What are you most excited about right now?
So, you know, new so our headquarters is
New York, and,
we have a lot of offices in New
York. We also have offices in New Jersey
and and Connecticut.
And,
you know, one thing we are excited about
is,
you know, next month, the state of New
York is going to vote
on whether or not they're gonna allow cardiology,
to be done outpatient here in New York.
And cardiology is one of the fastest growing,
AAC specialties in in AACs,
this past year. I think there was something
like 25 or 26 cardiology AACs that came
online.
And the thing that that we find, exciting
about that opportunity is, you know, New York
is a CON state,
and it's very hard to get an ASC.
And we've already been in discussions with several
cardiology groups,
in such that, you know, up until now,
it's never made sense for them to own
ASCs,
and it's very hard if they wanted to
to build one. It would take it would
take several years and and negotiating you know,
building it out, getting approval, getting contracts.
So one thing we're excited about is is
if New York State approves it, you know,
we are in discussions with several cardiology groups
in terms of potentially partnering with them and,
seeing if we can have that available at
our at our ASC.
Yeah. Absolutely. The momentum surrounding outpatient cardiology is
definitely something to watch and something we're we're
looking into a lot.
You know, we've kind of been talking about
this so far, but how are you thinking
about growth over the next twelve months?
Look. I I think growth can come in
several fashions.
You know, we are we have four ASCs,
New York, New Jersey, Connecticut, Arkansas. All of
our ASCs are very profitable.
And,
but at the same time, we have plenty
of capacity.
And so we're really thinking about, like, how
do we partner with other outside groups.
And and, you know, one of the things
that's unique about us,
because we do bariatric surgery, you
know, most AACs have a a BMI cutoff.
Right? And they may have a BMI cutoff
of 40 versus us. Our BMI cutoff is
a lot higher. It's 55 or 60. Right?
Because
our specialty is bariatrics. So we we also
do general surgery. We also do plastic surgery.
We do EGDs. But because
we can accommodate,
you know, patients with a higher BMI, whether
that's, you know, anesthesiologists
that are comfortable,
providing anesthesia services on higher BMI patients,
it's the reinforced toilets. It's the waiting room
furniture, the OR tables.
You know, because we could accommodate the higher
BMI patient, we think there's opportunity
in, you know, trying to get volume,
of cases that that cannot be done at
other ASCs. So we're in discussions with several
groups.
We're also in discussions
with our, employers, director employers.
You know, we are probably going to launch
orthopedic and spine. There's a lot of synergies
between orthopedics and bariatrics.
So we're in the process of hiring our
own orthopedic surgeons,
own spine surgeons,
and and trying to get those cases done
at our ASC. So we're pretty excited,
about our diversification
efforts.
But, yeah, we we we see, again, you
know, more and more stuff is going outpatient.
Employers,
you know, are faced with rising premiums, the
rise of the ASO model.
And if we have a unique solution in
which we can offer,
great quality
at at a very competitive price, like bundle
pricing,
then I think there's,
volume that that we can get.
Absolutely.
Is there anything that I haven't asked about
so far that you feel like is relevant
or important in this conversation?
Not that I could think of. You know,
we're we're just look. We're very bullish on
the ASC market. And,
you know, and and especially,
it's really hard to get an ASC.
You know, but but there's several opportunities around
the country where
several states are doing away with the CON
laws. And and I think, you know, for
the practices out there in those states, I
I think that's something they should really, really
invest and inquire upon. But at the same
time, you know, my advice to them is
is is to definitely get the right help
and partner with the right folks
because, you know, all of the idea of
an AAC or having the AAC to practice
makes a lot of sense.
It's really, really hard. So you definitely wanna
partner with folks that have done it before.
And luckily for us, we have a great
AAC team, but, you know, just
building ASC is not enough. You have to
ensure you have the volume, and you have
to know,
you have to ensure that you can negotiate
with the payers. And that you know, just
because it makes sense on paper doesn't mean
it's something that that is easy to do.
So so definitely, you know, I would I
would encourage folks to to research this and
and and partner with folks that have done
it before.
Yeah. Absolutely. I feel like that's kind of
a work smarter, not harder
idea that I am that's also just something
I'm hearing a lot in the ASC space
is the need to partner. So it's, yeah,
interesting to hear you say that.
But, yeah, that's otherwise all I have for
you today, Vijay. Thank you so much for
joining us. Thank you for having me.
Yeah. Of course. It's been a pleasure speaking
with you, and I look forward to connecting
with you again in the future. Likewise. Thank
you.
At athena Health, we know your ambulatory practice
wants healthier,
a healthier business, healthier care teams, and healthier
patients.
But the complexities of modern healthcare tech make
it hard for you and your care teams
to focus on what matters most.
That's where athenahealth can help. Our AI native
all in one solutions reduce administrative burdens,
streamline billing and payments, and deliver critical insights
when clinicians need it most.
That means fewer clicks, more time for patients,
and stronger bottom lines.
Practicing medicine is complex, but running a practice
can be that much simpler with athenahealth.
See how simpler is healthier at athenahealth.com.