Far Hills Surgical Center, Dayton, OH

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Project Snapshot

Project Type: ASC Development and Management

Region: Central

Project Size: 25,000 SF Multi-specialty, 8 ORs

Project Services:

  • Feasibility Assessment
  • Organization Formation
  • Facility Development (2)
  • Operations Management (3)

Far Hills Surgical Center is a joint venture of Miami Valley Hospital (“MVH”) (Premier Health Partners) and a group of local surgeons. Health Inventures began managing Far Hills in 1996, and was selected as consultant/manager to oversee their expansion project into a new facility in 1998.

In 2003 Far Hills bought an existing 55,000 square feet facility to expand capacity. MVH housed a Sports Medicine MRI/Imaging center on the 1st floor, physician office space for three orthopedic groups occupied the 2nd floor, and a new 3 OR 12,000 square foot ASC was developed on the fourth floor for the second site of Far Hills Center. Health Inventures was contracted as consultant, developer and manager to work with the client, architect and general contractor to take the over-all project from feasibility through long-term management.

In 2006 HI was contracted to provide development services for a third site that consolidates operations on new hospital ambulatory campus. The new facility opened in September 2008 and contains 8 ORs. In addition, HI negotiated the sale of the existing two centers’ real estate from the LLC to the hospital partner.

Results:

• Positive cash flow shown in under a year
• Joint venture leveraged hospital payer contracts/vendor relationships
• Physician base continues to grow
• Approximately 7,200 procedures performed in 2007 in previous facilities
• Very low staff turnover
• Patient satisfaction: 4.9 on 5.0 scale
• Opened second ASC site in September 2003, led by HI
• Health Inventures management agreements renewed in 2008
• Distributions to date (year-end 2007) are $15,246,849.

 

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