Becker's ASC Review

8 ASC MANAGEMENT What 5 leaders have to say about projected physician shortages By Claire Wallace By the end of 2024, the U.S. is predicted to see a shortage of 64,000 physicians, according to research from McKinsey & Co. ese shortages will likely persist, especially among ASC specialties, including anesthesiology and gastroenterology. Here is what five leaders have told Becker's about physician shortages this year: Benjamin Levy III, MD. Gastroenterologist at University of Chicago Medicine: Hopefully, we can expand residency and fellowship programs in the United States to provide enough physicians to take care of the ballooning patient population in America. As the baby boomer generation ages, we are going to need more physicians. Also, because of the obesity epidemic, the U.S. patient population is going to need a lot more primary care physicians and medical specialists to take care of weight, diabetes and hepatic steatosis-related medical issues. As gastroenterologists, we have started screening patients for colorectal cancer at age 45. ere are approximately 19 million extra patients between the ages of 45 and 49 who now need to get screened to prevent colorectal cancer by removing polyps. Hopefully, we can increase the size and number of GI fellowship programs over time to meet this very important expanded need for patient care. Jitander Dudee, MD. Ophthalmologist at Medical Vision Institute (Lexington, Ky.): ASCs, like many healthcare facilities, are experiencing workforce shortages, particularly in nursing and anesthesia providers. ese shortages can increase labor costs and make it difficult to meet the demand for surgeries. ASCs compete with hospitals and other healthcare settings for skilled staff. Hospitals may offer higher wages or better benefits, making it harder for ASCs to attract and retain qualified personnel. Michael Gomez, MD. NICU Medical Director of Pediatrix Medical Group (Long Branch, N.J.): High standards of performance raising costs are creating shortages of qualified clinicians, risks, administrative burdens, time practicing versus being regulated, rapidly evolving changes all contributing to the feeling of no control and autonomy. Adeel Faruki, MD. Assistant Professor of Anesthesiology and Perioperative Medicine at Houston-based MD Anderson Cancer Center (Houston): Declining physician reimbursements with staff shortages are forcing leaders to become creative with their staffing models and reconsider what anesthesia practices will look like in the future. e next few years will see significant changes in the way we practice anesthesia. I am looking forward to seeing how creative ASCs, hospitals and academic institutions become in order to deal with these reimbursement changes in combination with increasing costs of employment. Kelly Fowler. Administrator of Surgical Institute of Alabama (Vestavia Hills): e biggest threat to ASCs right now is stable, cost- effective anesthesia coverage. Subsidy and stipend requests are acutely affecting all our bottom lines. n The 5 richest physician billionaires By Patsy Newitt T he combined net worth of the five richest physician billionaires is $45.1 billion, according to Forbes' net worth tracker. Here are the five richest physician billionaires (Note: Net worth is accurate as of Oct. 9): Thomas Frist Jr., MD Net worth: $30.7 billion Dr. Frist co-founded HCA Healthcare alongside his father in 1968 and currently holds more than 20% ownership in the company. Although he no longer serves in an executive capacity, both of his sons now sit on the board of directors. Patrick Soon-Shiong, MD Net worth: $6 billion Dr. Soon-Shiong developed pancreatic cancer drug Abraxane and later sold his companies -- Abraxis in 2010 and American Pharmaceutical in 2008, for a total of $9.1 billion. In 2015, he took his cancer drug company NantKwest public, followed by his biotech startup NantHealth in 2016. Leonard Schleifer, MD, PhD Net worth: $3.5 billion Dr. Schleifer is the co-founder and CEO of Regeneron Pharmaceuticals, a biotechnology company he helped establish in 1988. He took the company public in 1991 and currently holds nearly 4% of its common stock. Regeneron, recognized for developing six FDA-approved drugs, is best known for Eylea, a treatment for macular degeneration. 4. August Troendle, MD Net worth: $2.7 billion Dr. Troendle is the president, CEO and founder of clinical research company Medpace and owns about 24% of the stock. Before founding Medpace, Dr. Troendle spent five years as a director at Swiss pharma company Sandoz, now known as Novartis. 5. George Yancopoulos, MD Net worth: $2.2 billion Dr. Yancopoulos is the co-founder, president and chief scientific officer of Regeneron Pharmaceuticals. He owns about 1% of the stock. Regeneron was cofounded by Dr. Schleifer in 1988, and Dr. Yancopoulos joined the next year. n

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