A Successful Partnership
The Agreement
Sleep Management Services of America (SMSA) entered into a management agreement to oversee the daily operation of three clinics owned by a large hospital in Northeast Florida. They were experiencing less than satisfactory results within the clinics as it pertains to internal staff and practices. The agreement we developed addresses several areas of their work.
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Scheduling: SMSA provides the staffing, advises patients, and schedules their appointments at the appropriate clinic.
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Technical Management: SMSA employs, coordinates and manages the technologists that conduct and score all studies within the clinics.
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Diagnostic Equipment: SMSA coordinated with the IT staff to install diagnostic hardware and software and implement necessary upgrades for conducting sleep studies.
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Medical Director: SMSA assisted with the selection of medical directors for each facility.
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Licensure and Regulatory Compliance: SMSA ensured compliance with all regulatory groups (AASM, Joint Commission).
The Results
The results of the relationship have been excellent. Here's a quick synopsis of a few key measurements we've seen:
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Studies increased 20% between 2013 and 2015 at one site and 34% at the other location during the same time.
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The client has since added an additional four-bed clinic within a new suburban hospital. The pace of studies within this startup will exceed 650 within the first year of operation.
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Tech-to-patient ratios has been improved from one-to-one to an average of 2 patients per tech.
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Facility utilization has grown from 22% to 60% within the original two clinics.
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Fluctuating expenses—which had a detrimental impact on operating margins—were addressed, providing stability resulting in a 15% decrease in operating costs.
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SMSA offered an employment opportunity to the client’s staff at a lower base pay rate and a limited benefit package.
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The results of this relationship have produced an operating margin increase of over $370,000.00 annually within the original two clinics.
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The third clinic has produced more than $520,000.00 in operating margin which represents a $215,000.00 gain from what the client projected using internal sources.
The Opportunity
The field of sleep medicine has experienced a tremendous amount of growth over the past few decades as education about the importance of sleep health and the recognition of sleep disorders has increased. There may be opportunity for your hospital or physician group to step into a growing field with the support of experienced professionals. Sleep Management Services of America is expanding our management and consulting relationships locally, regionally, and nationally, and we would love to talk to you about how we might partner to create a lasting, successful sleep center within your practice.
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