Nader Samii: How to Prepare for Quarterly ASC Board Meetings
Ambulatory surgery centers (ASCs) hold quarterly board meetings to remain accredited, ensure compliance, and foster growth. Our Executive Chairman, Nader Samii, sat down with HST Pathways Podcast host Nick Latz to discuss how to transform these obligatory gatherings into power-packed sessions, teeming with impact and productivity.
Setting the Stage for Success
Incorporating essential financial metrics and anticipating potential hiccups can help you turn mundane meetings into dynamic discussions. To find out how to get the most out of your board meeting, here are the top 5 questions you should consider and corresponding takeaways from Nader’s discussion.
Your ASC’s Board Members: Who to Include in the Meeting
Question #1: Who are the typical stakeholders in your ASC’s board meetings, and what are their primary roles within your organization’s operations?
Ideally, your ASC board members should include the CEO or administrator, your physician board members, medical director, and external voices from diverse backgrounds like marketing, sales, and customer experience. These varied perspectives enrich discussions and infuse expertise from multifaceted departments.
ASC Board Meeting Topics and Strategic Focus
Question #2: How do you get the most value out of a board meeting?
Strive to update your board members on quarterly recaps ahead of the meeting to steer the discussion towards feedback and strategic planning. By sharing financial and operational data beforehand, your meeting will pivot towards problem-solving, inviting collaboration and visionary thinking.
How to Prepare and Ensure an Engaging Meeting
Question #3: At a high level, what should you always include in a pre-meeting agenda?
Proactively engaging board members and furnishing them with agendas and materials prior to the meeting fosters more substantive discussions. Precluding surprises, especially adverse ones, and providing resources on complex data beforehand helps prepare board members for what you intend to discuss. This level of preparation keys up your most important topics and leads to engaging, thoughtful responses during the meeting.
KPIs and Critical Metrics Steer the Discussion
Question #4: What specific financial or revenue cycle management-related metrics should you focus on to show past and projected performance?
There are key performance indicators (KPIs) that ASCs should track and analyze, such as revenue per case, cost per case, net revenue percentage, A/R days, and denial reasons. Viewing them holistically will help you assess past performance and guide future decisions, unlocking strategic and operational improvements.
How to Continually Improve ASC Board Meeting
Question #5: Should each board meeting follow the same format?
ASCs should consistently evaluate and refine the board’s structure and meeting dynamics. Improving the effectiveness of the meeting could be as simple as providing more visual aids in presentations, or other options could require more advanced planning and commitment, such as conducting the meeting in-person. Depending on your goals, adjusting your meeting schedule from quarterly to bi-monthly or monthly check-ins can also lead to better communication and enhanced decision-making.
Final Takeaways on Board Meeting Preparation
By adopting these best practices, ASCs can harness their board’s collective expertise to amplify operational efficiency, stimulate strategic expansion, and enrich patient experiences.
Watch the full podcast episode below for more tips on transforming your ASC’s board meetings into engines of success!