CASH PAY INNOVATION. DOMESTIC MEDICAL PROFITABILITY ...€¦ · CASH PAY DOMESTIC MEDICAL TRAVEL...
Transcript of CASH PAY INNOVATION. DOMESTIC MEDICAL PROFITABILITY ...€¦ · CASH PAY DOMESTIC MEDICAL TRAVEL...
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CASH PAY
DOMESTIC MEDICAL
TRAVEL PROGRAM
DEVELOPMENT
FOR ASCs
Ty Tippets, AdministratorMaria Todd, Dir Business Developmenthttps://StGeorgeSurgical.com
PRICE TRANSPARENCY.
INNOVATION.
PROFITABILITY.
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Agenda
• Problem Solution
• Executive Summary
• Brief History
• Industry Situation
• Company Analysis
• Alternatives
• Implementation
• Results
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THE BACK STORY
• The Challenge
•Hypothetical Solution
•How we got here• Industry Situation• St George Surgical Center
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• Located in sunny St. George, in southern Utah, SGSC is a multi-specialty surgical facility, physician-owned and operated.
• Board Certified Surgeon & Anesthesia Providers
• Prestigious AAAHC Accreditation
• Medicare Certified
• 99.6% patient satisfaction rate
• Extremely low infection rate, 0.037% (Natl Avg 2.6%)
• 11,000 sq ft with 4 state-of-the-art surgery suites
• 23-hour Overnight/Extended Stay facility (the only ASC in Southern Utah with overnight capabilities)
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• Located in a popular tourism area
• 5 National Parks + Las Vegas
• Topographically unique
• Easy access regional airport
• Tourism generates $1350+ tax
relief per household
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EXECUTIVE SUMMARY
Problem + Hypothetical
Solution
Market Data that supported our
solution
What competitors were doing
Response to what was happening in
the industry
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KEY INTERNAL CHALLENGES
Owner Buy-In
Non-owner Physician
participation
Cost Data / Pricing Integrity1
How to connect with the market?
No instruction manual or
guide
Operations & Infrastructure4
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INDUSTRY ANALYSIS
Payor-dictated Fee Schedules
Unrelated to Costs
Health PlanLockouts or
Absence in Market
Lack of Controlover Destiny1
Undifferentiated Commoditization
by Payors
LimitedGeographical
Area
Lack of Price
Transparency4
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MACRO ENVIRONMENTAL ANALYSISPorter’s Five Forces
SUBSTITUTION
SUPPLIER
POWER
BUYER
POWER
NEW
RIVALS
COMPETITION
• Hospitals• Other ASCs
• Innovation• Pricing
• Cash Patients• ERISA Employers
• Local Imitators• Hospital Antics
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RESULTS
CASE GROWTH OVER TIME
2015 2016 2017 2018 2019
48 24 66 121 189
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RESULTS
CASH PAY RECEIPTS OVER TIME
2015 2016 2017 2018 2019
$60,409 $72,791 $82,017 $549,251$172,099
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RESULTS
PERCENTAGE OF NET PROFIT
2015 2016 2017 2018 2019
5% 10% 11% 23% 29%
$21,143 $25,442 $28,706 $60,235 $192,238
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RESULTS
EARNED MEDIA
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MEDICAL TRAVEL PROGRAM INFRASTRUCTURE
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SOFTWARE
• EMR integration
• Medical records transfer
• Handoffs
• Health privacy & security
• Telehealth communications
• Bundled Price Integrity
• Business Analysis
• Quotation Management
• Continuity of care
• Logistics & Travel
• Forms management
• EMR integration
• UB-04 / CMS 1500
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PRODUCT DEVELOPMENT
Quality?• Clinical and Patient-reported
Outcomes • Lower infection rates• Lower revision rates? • Lower complications?
What is the “product”• Is it just the Surgery?• Is it just the lower
price?
• Latest Surgical Approaches?
• Technology?
• Elevation?
• Destination Experience?
Who are the customers?Market Segments• Consumers?• Payors?• Employers?
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BRANDING
• Rule #1: Know Your Customer(s)
• Brand standards creation and enforcement
• “Living” brand
• Local / regional tourism authority
• Trade Missions / Outreach / Events
• Destination Development – Trading Partner Collaboration
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STAFF TRAINING
• Call handling
• Email inquiries
• Price quotes
• Contracts with payers
• Talking points
• Care coordination
• Travel planning
• Hotel inspections
• Handoffs to Surgeon
• Discharge Management / Fit to Travel
• Handoffs Back Home
• Patient Consultation
• Setting Expectations
• Discussion of Payment Options
• Billing to 3rd Party Payors
• How to Handle HMO / PPO Inquiries
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TRAVEL TRAINING
• Special needs logistics coordination & support• Altitude physiology• Ticketing & reservations• Minimum connecting time• Special meals• Proper accommodation / food / beverage / prescription delivery services• Aircraft size and configuration• Airport handling and planning (lifts/wheelchair assistance)• Immigration & visa (Foreign Patients)• Travel agents & tour operators• Destination management firms
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HOTEL SELECTION
✓Proper accommodations✓Hotel expectations✓Staff language fluency✓Food & beverage options✓Service, safety & security✓Amenities & activities✓Communications & policies✓Resort Fees✓Fitness Center policy on outside PTs/Trainers✓“No-walk policy”✓Unanticipated changes to reservations (extensions / early check in)✓Call bells / emergency situations
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TRANSPORTATION
✓Airport readiness
✓Taxi and car rentals
✓Private livery services
✓Driver training and safety
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FOOD & BEVERAGE
✓Special preparations
✓Special ingredients
✓Allergy and portion management
✓Healthful cultural local cuisine
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FINANCING
✓No interest
✓Non-recourse
✓High acceptance rate
✓Affordable payments
✓Adequate to pay for your most expensive cases
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STATISTICS, MEASUREMENT & EVALUATION
Clinics’Hospitals’Hotels’Competitors’
Service Delivery Satisfaction
Return on Investment
Program Growth
Website Page Hits / Revisits /
Website Conversions to Cases
Social Media Growth / Engagement
STATISTICSMEASUREMENT
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END GOAL?
• Unimpeachable integrity /quality
• Fairness
• Brand Awareness / Loyalty
• Physician Renown
• Capital for New Technologies
• Higher Salaries /Greater Staff Retention
PROFIT /
GROWTH
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Thank you!St George Surgical Center
676 South Bluff Street
St George, Utah 84770
(844) 673-0095
[email protected]@sgsc.net