Planning for the future requires a blend between the strategic and the opportunistic in an environment that’s changing rapidly. That insight was at the core of advice Regent’s Chief Development Officer Thomas Crossen shared at Becker’s 16th Annual Spine, Orthopedic and Pain Management-Driven ASC Conference in June. Speaking as part of a panel on strategic planning, Crossen noted Regent’s success with such a blend.
“Many ASC organizations would like to be increasingly strategic, but we are also opportunistic,” Crossen said. “Leads come to us, and then we evaluate their strategic nature.”
Crossen cited Regent’s track record in markets that are ASC-friendly, but also pointed out the benefit of tackling more difficult challenges. “A strategy that has worked is finding places that are less competitive simply because it is very difficult to build an ASC in terms of obtaining a certificate of need,” he explained. “If we see a state where there is not a lot of competition today, the process is lengthy and arduous, but you can’t be scared of a fight. In those states where we’re a first mover, we’re happy to balance that with the likelihood of success as that unfolds and less competitive areas begin to get built up.”
Additional strategic insights for ASC owners were offered by the panel:
- Position to Sell: Although there are many variables beyond ASC owners’ control, evolution in the industry is increasing the likelihood there will be opportunities down the road to be acquired. Steering plans and actions to embrace this possibility is a viable strategy.
- Cost and Efficiency: In addition to making a name for your ASC through expert procedures and patient satisfaction, partnering with others in the industry can enhance success. Working with other organizations to do research, enhances knowledge and keeps an ASC in a position of healthcare industry leadership.
Need more insights to inform strategic planning for your ASC operation? Contact Thomas Crossen.