Recognizing that ambulatory surgery centers (ASCs) are a key component of their long-term strategy and financial viability, health systems are acquiring established ASCs and developing new ones at an ever-increasing pace. This market dynamic not only speaks to the demand for efficient delivery of surgical services; for surgeons who value independence, ASC ownership presents an opportunity to remain self-sustaining.
Below are four operational and financial advantages for surgeons who have an ownership investment in an ASC.
1. Control and Management of Patient Care
Surgeons have greater autonomy in the ASC and can design customized surgical environments and hire specialized staff. They can also determine every component of the care provided, including:
- Admission and discharge criteria.
- Time allotted for cases.
- Equipment, supplies, and implants.
Scheduling is determined solely by the group(s) with ownership in the ASC, which benefits patients and the surgical staff.
2. A Superior Patient Experience
The patient experience in the ASC is often significantly better than a hospital-based service because ASCs are typically closer to patients’ homes and more accessible (e.g., more convenient locations and parking, not on a large campus or in a large building housing multiple services). Staffing turnover in an ASC is minimal due to the autonomy, work environment, and weekday hours.
Patients often look to the surgeons for a positive experience. In an ASC, the surgeon has a voice in all aspects of the event, so they are appropriately accountable. In other surgical sites of service, the surgeon may not have control over the staff or processes that impact the patient—yet they are still held accountable by the patient.
3. A Favorable Operating Margin
An appropriately sized, well-run ASC typically produces revenue at a favorable margin while offering high-quality services at a savings to both payers and patients. Although most healthcare services and markets are prone to fluctuation, the demand for outpatient surgery continues to increase each year. ASCs’ cost-effectiveness make them an attractive alternative to hospital-based surgery services—something health plans, employers, and patients can agree on. Further, ASCs are often more efficient than hospital settings, with faster turnaround times between cases. This allows surgeons to perform more procedures, increasing their professional revenue while improving patient access.
4. A Recruiting Tool
Owning an ASC presents an opportunity for both the practice and surgeons considering employment.
- While many new surgeons are choosing employment, a significant percentage still choose the entrepreneurial path of independent practice.
- Experienced surgeons who leave the employment model often do so because they feel their medical decision-making is limited. Joining a group that has an ownership stake in a successful ASC not only offers the possibility of even greater input to patient care decisions, but also reduces concerns about the financial viability of the independent practice.
Ownership in an ASC demonstrates that a practice embraces the operating challenge and has taken action to strengthen its market position. The surgeons who establish or buy into an ASC have an investment that will likely continue to increase in value.
