In a recently published whitepaper, Regent Surgical Health (Regent) explores three developments that are currently transforming the industry, including:
1. Outpatient Total Joint Replacement (TJR)
– Why hospitals should embrace the move of these procedures to an outpatient environment
2. Value-Based Care
– The ASC’s role in transitioning from paying for value, not volume
3. Employed Physicians as ASC Partners
– A recruitment, retention, and value-based care strategy Today, the most notable migration of a surgical procedure to ASCs is TJR, Regent Surgical Health CEO Thomas Mallon noted, “Once seen as a threat, hospitals who partner with surgeons in ASCs are seeing that have much to gain and can better protect themselves from lost revenue.” The movement toward value-based care also encourages hospital/surgeon ASC partnerships as procedures performed at surgery centers can increase the quality of care and reduce costs. “As value-based care goals drive the movement of additional types of surgery from hospitals to ASCs, we are seeing a shift in how hospitals view their outpatient strategy,” stated Mallon. “It is no longer a matter of losing some outpatient volume to secure higher acuity inpatient volume. ASCs are now seen as a major piece of the system’s care model of the future.” Offering employed physicians ownership in ASCs was once considered ill-advised. Today, health systems are utilizing ASC joint ventures as important recruitment and retention tools to the benefit of both hospital leaders and physicians alike. Employed physicians have more autonomy, greater revenue and more involvement in quality of care and patient satisfaction. Mallon noted, “All physician contracts end at some point. If an employed doctor has a financial stake in the community, they will stay and either renew with the health system or be an independent provider, both of which increase access for specialist services in the community.” Click here to download your copy of “Outpatient Joint Replacement & Two Additional Developments Transforming the Ambulatory Surgery Center (ASC) Industry.”