Becker's ASC Review

9 ASC MANAGEMENT 3 key trends driving ASC market growth By Alan Condon T he global ASC market is expected to reach $117 billion by 2027, up from $75.7 billion in 2020, primarily driven by an increase in the number of surgical procedures that can be performed at ASCs, according to a September report from Global Market Insights. Other contributing factors behind the indus- try's growth include migration of approved procedures to the ASC from the hospital outpatient department, quality of care, patient satisfaction rates and lower cost to the health- care system than inpatient settings. Here are the three biggest drivers of the global ASC market's growth: 1. Growing demand for multispecialty ASCs. Multispecialty surgery centers provide a range of surgical services and allow for the diversification of risks — if one specialty takes a hit from reimbursements or a new nonsurgical treatment, an ASC could remain afloat with the strength of its other special- ties. Ultimately, the strength behind the administration reveals how many specialties a surgery center can handle. Recent years have seen a spike in demand for multispecialty facilities, which are convenient for patients seeking treatment for a range of issues under one roof. As of 2020, there are 1,802 multispecialty ASCs in the U.S., repre- senting 39 percent of the market. In the com- ing years, the increasing number of chronic disorders and a rising elderly population base are projected to create various market progression opportunities in this space. 2. More patients seeking outpatient orthopedic care. Orthopedic surgeries are among the highest- reimbursed procedures among surgical specialties, but both patients and payers can achieve cost savings when these cases are done at ASCs. According to the Journal of the American Academy of Orthopedic Surgeons, ASCs make it possible to save 17 percent to 43 percent on direct costs depending on the procedure, which significantly improves patient satisfaction. In addition, more patients want to have orthopedic surgeries performed at special- ized surgery centers, which pride themselves on being low-cost, high-quality sites of care. e pandemic has also accelerated the trend toward outpatient migration as patients wish to avoid the risk of COVID-19 transmission at hospitals where sick patients are being treated. From 2021 to 2027, these trends are expected to boost the orthopedic segment of the ASC market at a compound annual growth rate of 6.5 percent, according to Global Market Insights. 3. Government programs in the Asia-Pacific region. Further afield, a large patient pool with various health conditions is expected to drive ASC growth in the Asia-Pacific region, where favorable government initiatives and increasing patient awareness of outpatient surgeries are also contributing factors. e region is also one of the largest desti- nations for medical tourism because of its high-quality care and lower costs, according to the report. e Asia-Pacific ASCs market was valued at $14.6 billion in 2020 and is projected to see a spike in demand for outpa- tient procedures in the coming years. n Louisiana health system plans $75M surgery center By Ariana Portalatin C ovington, La.-based St. Tammany Health Sys- tem will begin construction of a $75 million surgical center this fall, nola.com reported Oct. 11. The center, which will be adjacent to the health system's Paul D. Cordes Outpatient Pavilion, will include 12 surgical suites. The facility's clinical capabilities are still being developed. Construction is scheduled to be completed in the summer of 2023. n $300M Florida ASC expected to create nearly 600 jobs in 5 years By Marcus Robertson A dventHealth opened its $300 million Tampa Bay, Fla.- based Taneja Surgery Center on Oct. 12, according to Bay News 9. The ASC is one of the area's largest medical projects ever completed. The 300,000-square-foot, six-story facility features surgical ro- bots, 96 patient rooms, 24 ICU beds, 18 operating rooms and an auditorium that seats 160. The center includes space to add 36 more patient rooms and six more operating rooms, accord- ing to AdventHealth. Taneja Surgery Center offers treatment for cardiovascular, gas- trointestinal, neurologic and cancer-related issues. AdventHealth said it expects the ASC to add 117 clinical jobs in the first year and 587 jobs within the first five. n

• Cover