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To learn 13 00:00:30,649 --> 00:00:32,929 more, visit carecredit.com 14 00:00:32,929 --> 00:00:34,789 forward slash beckerspodcast. 15 00:00:35,409 --> 00:00:37,409 This is Gracelyn Keller with the Becker's Healthcare 16 00:00:37,409 --> 00:00:39,409 Podcast, and we are recording live at the 17 00:00:39,409 --> 00:00:42,149 thirty first annual business and operations of ASCs. 18 00:00:42,734 --> 00:00:45,134 I'm currently joined by Brenda Fernandez, who is 19 00:00:45,134 --> 00:00:48,195 the chief financial officer at Puerto Rico ASC 20 00:00:48,254 --> 00:00:50,894 Holding. So Brenda, thanks for being here. I'm 21 00:00:50,894 --> 00:00:52,734 gonna have you kick us off by sharing 22 00:00:52,734 --> 00:00:54,494 a little bit more about yourself and your 23 00:00:54,494 --> 00:00:55,954 work in the ASC space. 24 00:00:57,130 --> 00:00:59,630 Yeah. First, thank you for the invite. 25 00:01:00,329 --> 00:01:02,829 I currently serve as a chief financial officer 26 00:01:02,890 --> 00:01:03,130 of, 27 00:01:03,770 --> 00:01:06,829 network of ASCs in Puerto Rico. Our portfolio 28 00:01:07,049 --> 00:01:07,530 includes, 29 00:01:08,435 --> 00:01:09,495 two single specialty 30 00:01:09,795 --> 00:01:12,615 in ophthalmic ASCs and one multi specialty 31 00:01:13,155 --> 00:01:14,615 with the first outpatient 32 00:01:15,475 --> 00:01:18,034 total joint program on the island. My role 33 00:01:18,034 --> 00:01:19,255 focus on 34 00:01:19,795 --> 00:01:22,295 financial stewardship and sustainable growth, 35 00:01:22,719 --> 00:01:27,200 overseeing strategic investment, payer contracting, capital allocation, and 36 00:01:27,200 --> 00:01:27,700 operational 37 00:01:28,239 --> 00:01:28,739 efficiency. 38 00:01:29,359 --> 00:01:31,060 I work closely with the 39 00:01:31,359 --> 00:01:33,379 clinical and administrative leaders 40 00:01:33,760 --> 00:01:34,819 to ensure that 41 00:01:35,465 --> 00:01:36,765 every dollar spent 42 00:01:37,224 --> 00:01:40,185 aligns with our mission, which is delivering high 43 00:01:40,185 --> 00:01:42,744 quality, cost effective care in a compliant and 44 00:01:42,744 --> 00:01:43,804 scalable environment. 45 00:01:44,504 --> 00:01:46,905 Wonderful. Well, thanks for being here. And let's 46 00:01:46,905 --> 00:01:49,644 start our conversation by talking about the ASC 47 00:01:49,784 --> 00:01:52,250 market. In The US, this is projected to 48 00:01:52,250 --> 00:01:54,329 reach $60,800,000,000 49 00:01:54,329 --> 00:01:56,969 by 2030, and it continues to experience strong 50 00:01:56,969 --> 00:01:59,469 year over year growth. So from your perspective, 51 00:01:59,609 --> 00:02:02,090 what is the most significant trend and market 52 00:02:02,090 --> 00:02:05,049 forces driving this expansion? And how should ASC 53 00:02:05,049 --> 00:02:06,465 leaders be preparing today? 54 00:02:07,424 --> 00:02:09,745 Well, the growth, it's been fueled by a 55 00:02:09,745 --> 00:02:11,844 combination of payer payer incentive, 56 00:02:12,625 --> 00:02:14,164 patient preference, and innovation. 57 00:02:15,104 --> 00:02:18,324 From a financial lens, the shift of surgical 58 00:02:18,384 --> 00:02:22,060 volume from hospital to ASCs, especially orthopedics and 59 00:02:22,060 --> 00:02:22,560 ophthalmology, 60 00:02:23,259 --> 00:02:26,639 this creates meaningful cost saving for the system 61 00:02:27,019 --> 00:02:28,479 while maintaining quality. 62 00:02:29,099 --> 00:02:29,599 So 63 00:02:30,060 --> 00:02:30,799 there are 64 00:02:31,259 --> 00:02:33,759 opportunities in the market. So for ASC leaders, 65 00:02:33,985 --> 00:02:36,305 the priority should be scaling in a strategic 66 00:02:36,305 --> 00:02:36,805 way. 67 00:02:37,104 --> 00:02:40,544 For example, build strong financial motors around came 68 00:02:40,705 --> 00:02:43,504 case mix and payer mix to anticipate margin 69 00:02:43,504 --> 00:02:44,004 compression. 70 00:02:45,104 --> 00:02:47,685 Also, straighten revenue cycle performance, 71 00:02:48,510 --> 00:02:49,010 eligibility, 72 00:02:49,469 --> 00:02:51,650 coding, accuracy, and denials management. 73 00:02:52,349 --> 00:02:53,250 Another priority, 74 00:02:53,710 --> 00:02:56,510 might be aligned capital investment in technology and 75 00:02:56,510 --> 00:02:58,449 infrastructure with volume based 76 00:02:58,750 --> 00:03:00,210 return on investment projections. 77 00:03:00,974 --> 00:03:03,235 And the last one but not minor, diversity 78 00:03:03,455 --> 00:03:06,754 partnerships and bundled payment participation to stay competitive 79 00:03:06,894 --> 00:03:08,275 in a value based environment. 80 00:03:09,455 --> 00:03:09,955 Wonderful. 81 00:03:10,414 --> 00:03:12,974 And then from AI and robotic surgeries to 82 00:03:12,974 --> 00:03:16,210 advanced EHR systems, technology remains both a make 83 00:03:16,210 --> 00:03:17,969 or break factor and a critical driver of 84 00:03:17,969 --> 00:03:20,290 ASC operations at scale. So how do you 85 00:03:20,290 --> 00:03:22,849 see deeper tech integration shaping the ways ASCs 86 00:03:22,849 --> 00:03:24,770 deliver care and manage their business over the 87 00:03:24,770 --> 00:03:25,750 next few years? 88 00:03:26,770 --> 00:03:28,790 AI is a trending topic in this era. 89 00:03:29,544 --> 00:03:32,584 Technology is quickly becoming the great equalizer for 90 00:03:32,584 --> 00:03:33,564 a for ASCs. 91 00:03:34,344 --> 00:03:35,405 From my perspective, 92 00:03:36,104 --> 00:03:39,405 data driven decision making is now the differentiator 93 00:03:39,784 --> 00:03:41,405 between good and great centers. 94 00:03:41,864 --> 00:03:42,764 AI is, 95 00:03:43,669 --> 00:03:45,770 an automation are allowing us 96 00:03:46,229 --> 00:03:48,330 to actually predict case profitability 97 00:03:48,710 --> 00:03:51,050 and optimize staffing in real time. 98 00:03:51,750 --> 00:03:55,270 Also, doing some benchmark supply utilization and implant 99 00:03:55,270 --> 00:03:57,504 costs against national datasets. 100 00:03:59,165 --> 00:03:59,665 Also 101 00:04:00,444 --> 00:04:03,425 identify leakage points in billing or documentation 102 00:04:03,885 --> 00:04:05,745 that directly affect cash flow. 103 00:04:06,045 --> 00:04:09,245 Advanced analytics also make our board level reporting 104 00:04:09,245 --> 00:04:12,050 sharper. We can tie operational metrics 105 00:04:12,430 --> 00:04:15,409 directly to their financial impact like turnover, state, 106 00:04:15,710 --> 00:04:17,889 and infection rates among others. 107 00:04:18,350 --> 00:04:19,250 The next frontier 108 00:04:19,550 --> 00:04:20,050 is 109 00:04:20,430 --> 00:04:20,930 integrated 110 00:04:21,310 --> 00:04:25,095 dashboards that link quality outcomes, staffing, and cost 111 00:04:25,095 --> 00:04:27,115 per case on one platform. 112 00:04:28,055 --> 00:04:30,935 And with 60% of health systems considering ASC 113 00:04:30,935 --> 00:04:33,654 joint ventures and many ASCs already partnering with 114 00:04:33,654 --> 00:04:34,955 systems in their communities, 115 00:04:35,370 --> 00:04:37,689 what opportunities do you see for collaboration, whether 116 00:04:37,689 --> 00:04:40,490 with other providers or vendors, to strengthen patient 117 00:04:40,490 --> 00:04:42,110 care and operational efficiency? 118 00:04:43,449 --> 00:04:43,949 Partnerships 119 00:04:44,410 --> 00:04:46,410 are where where we are valued has been 120 00:04:46,410 --> 00:04:49,470 unlocked. Help system bring brand recognition 121 00:04:49,930 --> 00:04:50,589 and complex 122 00:04:51,074 --> 00:04:51,814 case pathways. 123 00:04:52,514 --> 00:04:55,735 ASCs brings efficiency and lower cost structures. 124 00:04:56,435 --> 00:04:59,014 There are too many opportunities in the market. 125 00:04:59,235 --> 00:05:02,535 So some of them include joint venture expansions, 126 00:05:03,240 --> 00:05:06,519 where hospital contribute case volume and capital, and 127 00:05:06,519 --> 00:05:09,019 ASCs provide operational excellence. 128 00:05:09,959 --> 00:05:10,860 Another opportunity 129 00:05:11,160 --> 00:05:14,060 might be vendor and implant partnerships 130 00:05:14,519 --> 00:05:16,839 tied to cost per case performance or volume 131 00:05:16,839 --> 00:05:17,660 based rebates. 132 00:05:18,514 --> 00:05:21,095 And, also, I think that cost provider networks, 133 00:05:21,235 --> 00:05:24,534 it could be another opportunity for bundled episodes, 134 00:05:24,914 --> 00:05:25,414 surgery, 135 00:05:25,714 --> 00:05:26,214 rehab, 136 00:05:26,914 --> 00:05:29,714 and follow ups to enhance con continuity of 137 00:05:29,714 --> 00:05:31,814 care and capture shared savings. 138 00:05:32,660 --> 00:05:35,720 The financial motor of the future is collaborative, 139 00:05:36,339 --> 00:05:39,079 share risk, share reward, and align transparency. 140 00:05:40,100 --> 00:05:41,540 Well, thank you so much for taking the 141 00:05:41,540 --> 00:05:43,300 time to join me today. Is there anything 142 00:05:43,300 --> 00:05:44,899 we didn't touch on or any final thoughts 143 00:05:44,899 --> 00:05:46,564 you'd like to share? Absolutely. 144 00:05:47,504 --> 00:05:50,465 Financial literacy, it's in the ASC world today 145 00:05:50,465 --> 00:05:52,245 means more than balancing books. 146 00:05:52,865 --> 00:05:55,605 It's about designing resilient systems. 147 00:05:55,985 --> 00:05:58,645 Our challenge is to remain lean while investing 148 00:05:58,785 --> 00:05:59,925 in the right innovations. 149 00:06:00,620 --> 00:06:01,199 The centers that 150 00:06:01,500 --> 00:06:03,979 thrive will be those that combine discipline and 151 00:06:03,979 --> 00:06:06,879 cost management with boldness in strategic growth. 152 00:06:07,339 --> 00:06:08,560 Technology and collaboration 153 00:06:08,939 --> 00:06:10,800 are not are not just enablers. 154 00:06:11,180 --> 00:06:14,639 They are capital multipliers when executed with precisions. 155 00:06:15,715 --> 00:06:17,715 Wonderful. Well, Brenda, thanks so much for joining 156 00:06:17,715 --> 00:06:19,634 me. And, again, we are recording live at 157 00:06:19,634 --> 00:06:22,275 the thirty first annual business and operations of 158 00:06:22,275 --> 00:06:24,775 ASCs. Thanks so much. Thank you.