tci Part B Insider - 2004 Issue 5

ASC's: Keep Financial Statements Separate for Related ASCs

Check your state's laws before setting up an on-site centerIf you're running an ambulatory surgery center in the same location as your office or nearby, then you could be running tremendous compliance and billing risks unless you police the expenses and financial statements of the ASC to keep it separate.Even if your ASC is a limited-use surgical suite for a single specialty, it's "critical" to be able to separate expenses into two cost centers or revenue centers, says consultant Gary Matthews with Physicians HealthCare Advisors in Atlanta. For accounting software, you should probably "go one level more sophisticated...

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