Enhancing Center Profitability
Momentum Specialty Surgery Center uses HST's case profit estimations to ensure case profitability and improve their bottom line.
By using HST’s case profit estimations, they have experienced:
- An 80% reduction in time spent analyzing case profitability (what took 25 minutes now takes 5)
- Enhanced transparency into profitability per physician, per day, per procedure type
# of Centers: 1
# of ORs: 4
Featured Solutions: Case Profit Estimations
Solutions in Use: Surgery Center Management, Electronic Charting, Scheduling & Care Communication, Patient Estimates, Case Profit Estimations
State(s): TX
Customer type: Surgery Center
Specialties: Orthopedics, ENT, Neurology
The Challenge
Heather Cobb, the Administrator at Momentum Specialty Surgery Center in Wichita Falls, Texas, faced significant challenges with their previous method of analyzing case profitability. The process was manual and time-consuming. Heather and her business office manager had to manually run each case through different systems to ensure patient insurance validity and gather contract pricing to create patient estimates. This labor-intensive process took approximately 20-30 minutes per case initially, and even after optimizing with spreadsheets, it still required about 10-15 minutes per case.
The Solution
The Momentum Specialty Surgery Center implemented HST’s case profit estimations to streamline and improve the efficiency of their case profitability analysis. This tool automated the manual processes that Heather and her team were previously conducting, integrating all necessary information into one platform. The decision to implement the tool was primarily made by Heather and the business office manager after a demo showcased its potential to enhance their operations significantly. The implementation process was quick and straightforward, taking only about 15-20 minutes, and the HST team provided excellent support, responding well to emails and suggestions to improve the product further.
I would definitely recommend HST Profit Forecast to other surgery centers. If you want to save yourself some time and increase your profitability within your center, then I would definitely suggest using it.
Heather Cobb, Administrator
The Results
Since implementing HST’s case profit estimations, the center has seen substantial improvements in efficiency and profitability. The time spent on analyzing case profitability has dramatically decreased from up to 30 minutes per case to less than 5 minutes. This efficiency has allowed the center to make quicker decisions regarding case acceptance, especially in determining whether cases like cataract and orthopedic surgeries are likely to be profitable based on implant costs and other factors.
The response within the center has been overwhelmingly positive. HST’s case profit estimations has enabled better decision-making regarding case scheduling and the physicians love it because it drives productive, data-backed conversations on improving margins. The tool’s ability to break down costs by physician and by day has improved transparency and operational efficiency. It has also helped the center avoid unprofitable cases, positively impacting their profit and loss statements.
Additionally, the ability to create dashboards for a quick overview of contracts and historical data has been particularly beneficial, enabling Heather to present compelling evidence for renegotiating underperforming contracts to improve profitability further.
In conclusion, Momentum Specialty Surgery Center has significantly benefited from HST’s case profit estimations, leading to time savings, enhanced profitability, and better overall management of the surgery center’s operations. Heather highly recommends the tool to other surgery centers looking to streamline their operations and improve their bottom line.
Let’s say I have an ortho physician that does a knee replacement and profits $1,500. But then I have another ortho physician that does the same knee replacement but profits $2,500. It drives those conversations between the physicians to understand what one is doing that the other may not be. It’s really beneficial to have those conversations.
Heather Cobb, Administrator