In today’s world, every company is being asked to take on more responsibilities with the same or, unfortunately, sometimes even less resources. Finding cost efficiencies does not always mean going without something; it sometimes means absorbing the workload in another area. The world of healthcare, and anesthesia, is not immune to this practice.
Just like any other team within a corporation, anesthesiology departments have to implement and achieve business efficiencies that drive revenue. The efficiencies not only have to make a financial impact, they must also coincide with the strategies of the entire corporation. Let’s face it, someone has to front the bill and no one wants to be viewed as a cost center.
The process of not only identifying but implementing operational efficiencies while continuing to be cost conscious is not easy for any business, especially one that is as complex as the world of anesthesiology. Doing so takes meticulous data management, processes and systems that can be easily duplicated and repeated and, most importantly, transparency to clearly showcase the value, both operationally and financially, anesthesia has on the entire organization.
When it comes to compensation, there is no getting around it: it is the largest line item when it comes to anesthesiology funding. But there are many factors that go into that figure, which need to be accounted for in any situation. Location, the scope of work and requirements as well as the demand for the anesthesiology services all factor into this amount. While the goal is to generate as much revenue as efficiently as possible to cover the expense of this irreplaceable service, accomplishing it takes an acumen hat may not be readily available within the healthcare institution.
Using third party anesthesia management solutions, such as Steel City Anesthesia, offers an opportunity to have outside counsel to help in not only identifying new revenue streams, but also in properly handling data while delivering prompt performance, financial and clinical reports for the facility. It is the goal of Steel City Anesthesia with every client, to be the conduit between the clinical side of the organization and the business team, ensuring the goals are synced with both parties and success achieved. That’s our business and with a 99% satisfaction rating from our clients, business is good!
If an organization goes into the search for an anesthesia management solutions organization to cut expenses by cutting compensation, it is the first misstep that can derail the project before it starts. While cost savings can occur, the main goal of an MSO is to create long-term stability for the anesthesia team by improving operating efficiencies and the quality of the procedures being performed.