De Novo projects consist of three critical phases:
- PHASE I: Feasibility Assessment and Business Planning
- PHASE II: Development - Organization Formation, Facility Development, and Operations Preparation
- PHASE III: Operations Management
Each of these phases is designed to meet specific objectives and include key client deliverables. These are described in detail below:
PHASE I: Feasibility Assessment and Business Planning
OBJECTIVE: Determine the financial feasibility of the proposed ASC, gain an understanding of the ASC competitive and regulatory environment, and identify best ownership options based on stakeholder objectives, culminating in a viable, market-ready business plan.
DURATION: Typically 45-60 days
Feasibility Assessment:
A comprehensive feasibility assessment provides the opportunity to gain a clear and realistic view of the challenges faced with opening an ASC, and to address these challenges up front in a business plan before work begins on the actual facility. Health Inventures' analysis of every aspect of the planned project culminates in a business plan that becomes the blueprint for a successful enterprise. With Health Inventures, you can be assured that the time invested in this phase of development is an essential first step toward ensuring a positive outcome for the business.
Business Planning:
When this analysis is complete, the results are reviewed with the project partners. While many assumptions are used in completing these early phases of the project, the end result is a business plan with a high likelihood of success. The 45-60 days invested in this phase of development is essential to a positive outcome for your business.
PHASE II: Development - Organization Formation, Facility Development, and Operations Preparation
OBJECTIVE: Take the new facility from a plan on paper to a bricks-and-mortar structure, fully equipped to begin operation with all necessary business and clinical systems for a launch that is both on schedule and on budget.
DURATION: Typically 14-20 months (Dependent upon facility solution and timing of design phase)
Organization Formation:
Once the feasibility of the project is determined, Health Inventures helps with the important task of forming a strong, viable organization. This includes the selection of the most appropriate business model and involvement of investors/physicians/hospitals committed to the success of the project. In today's highly competitive market, it is crucial to craft a well-defined ownership structure that balances all ownership interests with the goal of long-term viability and success of the business. Health Inventures can help guide the process and avoid the pitfalls we have seen elsewhere.
Facility Development:
Throughout the Facility Development phase, Health Inventures works with you and an experienced team of professionals to plan and construct the physical facility that will house the new business. From the start, we keep the project on course, on time, and on budget. In fact, two of the founding principals began their careers as architects. With this unique advantage, Health Inventures brings the specialized knowledge necessary to ensure that your facility is sized right and built right.
Our staff will provide your architect with an initial facility space program, driven from the business plan, and assist with site selection, as necessary. We work alongside the architect during design development to ensure the space planned is the most efficient for staff and patient flow, taking into consideration all standards for licensing and accreditation. During construction, Health Inventures' staff will be the point of contact for the coordination of the project's architect, general contractor and equipment consultant.
Operations Preparation:
Operations preparation touches every aspect of your new business. From applying for licenses and certification to setting up information systems and developing business office procedures, Health Inventures is by your side, facilitating relationships, providing sample policies and procedures and, in general, making sure your ASC gets off to a strong start. Our comprehensive knowledge of this process has led to the development of a highly-specialized, proprietary tool for scheduling each phase of Operations Preparation, including assigning task responsibilities and critical completion dates. Health Inventures' Operations Preparation is critical to the financial and clinical performance of your business.
As the construction phase of your project nears completion, Health Inventures helps you tackle the imposing task of preparing your business and clinical systems for opening. Using our proprietary ASC Ops-Prep™ tool, we systematically progress through more than 1400 tasks that must come together, in just the right sequence, for your ASC to open on time and within budget.
PHASE III: Operations Management
OBJECTIVE: Manage the day-to-day operations of the ASC to provide high-quality service to the community, a satisfying work environment, and a strong return for investors.
DURATION: From the day of the first surgery, comprehensive is the word that best describes the services Health Inventures provides for the businesses under our management. Health Inventures offers a complete management package with a staff of professionals from each discipline required to successfully operate an ASC.
Once the business is open, the complexities do not stop. Health Inventures' day-to-day management is guided by an annual business plan with clear and precise objectives. Targets and benchmarks are established in every area (clinical, financial, and administrative functions). Regular and routine feedback is solicited from patients and medical staff. This creates a positive environment of continual quality improvement and sustained growth. Centers that are part of our network report exceptional profitability, low employee turnover, and outstanding satisfaction ratings from patients, physicians, employees and owners. When Health Inventures manages your healthcare business, you can be confident every aspect of the operation is in good hands. Our services encompass all of the areas critical to your financial and clinical success.