Chris Schriever’s Post

Take a look at the rapidly growing Ambulatory Surgery Center (ASC) market. This segment of the healthcare industry, currently valued at $45.6 billion includes more than 11,700 #surgerycenters nationwide. These #ASCs offer patients a cost-effective and efficient alternative to hospital-based outpatient surgery, specializing in a narrower range of procedures with a focus on quality and patient satisfaction. Key Market Trends: + Growth and Innovation: Technological advancements and favorable regulations have fueled market growth, with a projected value of $55.3 billion by 2029. + Shifting Landscape: More facilities are becoming Medicare-certified, and private insurance is increasingly covering outpatient procedures. + Cost Efficiency: ASCs offer significant cost savings for patients, insurers and Medicare compared to hospital outpatient departments. + Evolving Specialties: While specialties like endoscopy and ophthalmology dominate the ASC space, cardiology, musculoskeletal, and orthopedics are experiencing rapid growth. + Challenges: ASCs face challenges such as anesthesia costs, nurse shortages, and pressure on profitability due to increasing partnerships with private equity and management companies. Ownership and Structure: + Physician ownership remains dominant, although hospital and corporate partnerships are increasing. + ASCs vary in size, with most having 1-4 operating rooms. + The majority of ASCs specialize in one or two specialties, contributing to their efficiency and expertise. Chris Schriever noted that, "the ASC market is poised for continued growth, driven by an aging population, technological advancements, and increasing demand for outpatient services. However, navigating challenges like workforce shortages and evolving reimbursement models will be crucial for sustained success." Alex Yewdell suggests, "stakeholders support the ASC industry by: +Using and sharing accurate market data from reputable sources. +Contributing to ASC advocacy efforts. +Supporting organizations like the Ambulatory Surgery Center Association (ASCA) and the ASC QUALITY COLLABORATION INC (ASCQC)." View the full #ASCDATA report below or by visiting https://lnkd.in/gdMnMy5W

A thoughtful assessment and suggestions on how to address the rapid move of patient procedures to Ambulatory Surgery Centers. Key considerations for MedTech companies as stated: * Pace of procedure move from hospitals to outpatient care facilities (e.g., 29% growth in Medicare Payments to ASCs from 2014 – 2020) (need to be ready and prepared) * ASCs do not operate the same as HOPDs (need to offer unique service and support) * ASCs have specific product and support needs (need for a targeted sales and support strategy). Understanding how to best message and engage with ASCs and understanding their respective affiliations (IDNs, hospitals, physicians) and relationships will become increasingly important for MedTech companies. Great read Kristin Brillant and Carolina Bueno https://lnkd.in/e__5TDQF

The future of outpatient care is at a crossroads. While Ambulatory Surgery Centers save patients an average of $700 per procedure, many face mounting financial pressures. Discover how ASCs are innovating to balance quality care with sustainability. Read our latest blog: https://hubs.li/Q02Wc-cg0 #RCMblog #ASC #ambulatorysurgerycenter #PatientCare #vendorpartner #revenuecyclemanagement #rcm #artificialintelligence #ai #machinelearning #ML #automation #denialsmanagmenteducation #healthcarercm #denialsmanagement #denialsprevention #denialsresolution #claimsreimbursement #claimsmanagement #deniedclaims #denialsworkflows #revenuecyclemanagementeducation #RCMtechnology #healthcare #healthcarercm #complexrcm #complexclaims #workerscomp #motorvehicleaccident #mva #outofstatemedicaid #oos #veteransaffairs #VA #tricare #agedar #underpaymentrecovery

Interesting article (sponsored by Dukal) in Journal for Healthcare Contracting: One highlight: Hospital outpatient departments and ambulatory surgery centers (ASC) will continue to experience patient growth (19% and 25% by 2029), with patient volumes projected to increase by 15 million from 2019 to 2029. In addition, the shift in procedures from inpatient to outpatient will help drive down the cost of surgical procedures. Not surprising but continues a trend.

What role do Ambulatory Surgery Centers (ASCs) play in #healthcare? ASCs play a crucial role in modern healthcare by providing efficient, cost-effective surgical care outside of traditional hospital settings. A few reasons why they're so important: 💰Cost-effectiveness - ASCs typically have lower overhead costs compared to hospitals, resulting in lower charges for patients and payers. This helps to reduce overall healthcare expenses. 🕗 Convenience - Patients appreciate the streamlined processes, shorter wait times, and easy access to outpatient surgical procedures closer to home. 💡 Innovation - ASCs are at the forefront of adopting new technologies and techniques, driving innovation. This enables them to offer advanced treatments and procedures to patients. 👩⚕️ Specialized care - Many ASCs focus on specific procedures or specialties, allowing for a high level of expertise and specialized equipment tailored to those services. This specialization leads to better outcomes for patients. Overall, ASCs play a vital role in enhancing access to quality outpatient surgical care while simultaneously reducing healthcare costs, and improving the patient experience. #ASC #healthcare #outpatient

The Ambulatory Surgery Centers. Only Profit Driven Facilities, An Overrated Cost Initiative Market or a Healthcare Cost Savings Necessity? 🤔😶🌫️ The argument seems to be that the ASC (Ambulatory Surgery Center) market, while having a rapid rise, sometimes doesn't necessarily prioritize patient needs. Here's a breakdown of the potential criticisms: Overrated Benefits: 📌Cost-effectiveness: ASCs are often touted as cheaper than traditional hospitals. However, critics argue that some procedures might be more expensive at ASCs due to facility fees or lack of bulk purchasing power. 📌Convenience: ASCs offer a more comfortable and quicker experience compared to hospitals. But some surgeries might require more complex post-operative care, which ASCs might not be equipped for. Patient Needs vs. Market Forces: 📌Selection bias: ASCs might prioritize procedures that are profitable and have faster turnaround times, potentially neglecting procedures that are more complex or less profitable. 📌Focus on profit: The growth of ASCs might be driven by profit motives rather than prioritizing what patients truly need in terms of access to necessary procedures or specialists. Here's how the counter-arguments might look:👨🏫👩🏫 * ASCs can provide a valuable alternative for appropriate procedures, reducing wait times and hospital overcrowding. * Advancements in surgical techniques might allow for more complex procedures to be performed safely at ASCs in the future. 🙈🙉🙊 Overall, the debate highlights the need for a balanced approach. ASCs can be a valuable tool, but they shouldn't replace traditional hospitals entirely. The focus should be on ensuring patients have access to the most appropriate setting for their specific needs, regardless of cost or convenience. For a more nuanced understanding, you can search for terms like "pros and cons of ASCs," "ASCs and patient outcomes," or "regulation of ASC market." #asccostsavings #qualitycare

#PriceTransparency is something that's increasingly defining #HealthCare's future. As somebody who has had multiple specialist visits and medical procedures in the past 18 months, plus another kiddo coming in November, I think that's a good thing. Just some of the benefits of price transparency: 💪 Empowering patients to make informed decisions 🤑 Reducing unexpected medical bills; when prices are clear, patients can anticipate and plan for expenses, reducing the financial stress that often accompanies medical care. 🤼 Healthier competition, with transparency forcing health care providers to compete on pricing (like most other businesses do) ⭐ More trust in the health care system and accountability (if providers can justify their pricing structures) Price transparency in #AmbulatorySurgeryCenters, in particular, is becoming more common. Ambulatory Surgery Center News reporter Shelby Grebbin explores why in this new story, which led our weekly newsletter today. A big thanks to Surgery Center Of Oklahoma's Dr. Keith Smith, Jay Kempton and WellBridge Surgical's Jeff Williams for their insights. Story here: https://lnkd.in/gSagb9iV

In Outpatient Based Labs (OBLs) and Ambulatory Surgery Centers (ASCs), efficiently managing quality improvement (QI) efforts—such as tracking complications and maintaining inventory—is crucial. For over a decade while at Penn Medicine, University of Pennsylvania Health System, I used a powerful software platform called HI-IQ and saw firsthand how effective it was in tracking data, but I wasn’t sure what I would rely on when transitioning to private practice. So I've been using good ol' excel....until now. Originally designed for large hospitals and academic centers, HI-IQ has now expanded to serve private practitioners in Interventional Radiology (IR), Vascular Surgery (VS), and Interventional Cardiology (IC). It is the only platform developed and endorsed by the Society of Interventional Radiology, incorporating SIR Standards of Practice, terminology, and business rules. From my research, no other system on the market offers such a cost-effective, comprehensive view of clinical, operational, outcomes, and cost data with the level of detail needed to improve procedures across these endovascular specialties. I just recently opened 360 Vascular Institute and am already seeing increasing regulations from insurers and governmental agencies. How are those of you in OBLs and ASCs keeping track of Quality & Patient Safety, Operational Efficiency, and Cost Containment? Do you use a software program like HI-IQ or just a spreadsheet? If it's the later, don't you find that cumbersome as your practice grows? For those of you in a state that requires national accreditation, this is an especially important topic. #HealthcareTechnology #QualityImprovement #OBLs #ASCs #PatientCare #IR #VS #IC #SIR #PennMedicine New Cardiovascular Horizons American College of Cardiology Craig Walker, MD Eric Dippel, MD FACC FSCAI Bob Tahara, MD FACS FSVS DFOEIS RVT RPVI Mark Garcia Mary Costantino, MD

Great analysis from Michael Stratton at Health Data Atlas on the flow of funds for ASCs and Hospitals. The physician's income is a big part of why ASCs are growing, but don't miss the cost to payer component - less expensive, same outcome. Hospitals are being squeezed from both sides - physicians want flexibility and higher incomes, payers want lower spend and same outcomes. BTW - check out Michael's company - they provide a great, high-quality "who and where" of healthcare dataset (physicians, hospitals, ASCs, affiliations) at a fraction of the cost of the incumbents. And they'll actually help you work w/ the data instead of throwing it over the wall and wishing you good luck.

IndustryARC™ The global ambulatory surgical center market size was estimated at USD 92.79 billion in 2022 and is expected to reach over USD 152.6 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030. 👉 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 @ https://lnkd.in/gmZFdUCR Cost-Effectiveness: ASCs are often more cost-effective than traditional hospital-based surgical facilities. They typically have lower overhead costs, shorter patient stays, and fewer complications, leading to reduced healthcare expenses for patients, insurers, and government payers. Shift Towards Outpatient Care: Healthcare systems worldwide are increasingly emphasizing outpatient care as a means to improve efficiency, reduce hospitalization costs, and enhance patient satisfaction. ASCs cater to this trend by offering a convenient and accessible alternative to inpatient surgery, allowing patients to return home on the same day of their procedure. Advances in Surgical Techniques and Technology: Technological advancements in minimally invasive surgical techniques, anesthesia, and medical devices have expanded the scope of procedures that can be safely performed in ASCs. These advancements enable ASCs to offer a wide range of surgical specialties, including orthopedics, ophthalmology, gastroenterology, and plastic surgery. Patient Convenience and Satisfaction: ASCs provide patients with a convenient and comfortable environment for receiving surgical care. Patients appreciate the personalized attention, shorter wait times, and streamlined processes offered by ASCs compared to traditional hospital settings. The ability to undergo surgery close to home also reduces travel time and inconvenience for patients and their families. 👉 𝐆𝐞𝐭 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨 @ https://lnkd.in/g7k5fbcz 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:  HCA Healthcare | Tenet Healthcare | AMSURG. | UnitedHealth Group | Intuitive Surgical Ltd, | Surgery Partners, Inc. | Medtronic | Johnson & Johnson | Cardinal Health, | Owens & Minor, Inc. | DaVita Kidney Care. | Fresenius Medical Care North America | Select Medical Holdings | Kindred, Inc. | American Surgical Company | The ASC Group | US Anesthesia Partners | TeamHealth | Physicians Endoscopy Center | US Dermatology Medical Group #ASC #AmbulatorySurgeryCenter #OutpatientSurgery #SameDaySurgery #MinimallyInvasiveSurgery #Healthcare #MedicalTechnology #PatientCare #SurgicalInnovation #HealthcareDelivery #ASCBiz #ASCDevelopment #ASCManagement #ASCOperations #ASCQuality #ASCStandards #ASCReimbursement #ASCInfectionControl #ASCMarketing #ASCInnovation #Endoscopy #Gastroenterology #Orthopedics #Ophthalmology #Urology #Dermatology #PainManagement #Women'sHealth #Cosmeticsurgery