As procedures increasingly move to ASCs, the way hospitals are used is shifting, according to Brian Bacot, MD, orthopedic surgeon at Comprehensive Orthopaedic Global in St. Thomas, Virgin Islands.
Dr. Bacot joined Becker's to discuss how competition in the ASC market has shifted in the last five years and how it will shift in the next five.
Editor's note: These responses were edited lightly for clarity and length.
Question: What will ASC competition look like in five years?
Dr. Brian Bacot: The trends for the future indicate that there will be higher utilization of ASCs and more procedures being approved to be performed there. Hospitals will need to react by becoming more involved with ASC development and partnership. Healthcare will certainly move away from centralized healthcare to outpatient procedures and outpatient services.This will herald a shift in increasing importance for ASCs as well as reevaluating how hospitals are utilized.
Q: How has ASC competition shifted over the last five years?
BB: The major shift in the ASC industry is its overall utilization in the healthcare arena. The overall cost savings and improved patient satisfaction has driven more and more procedures into the ASCs and away from hospitals, which are less efficient and have lower satisfaction measures. The recent pandemic has emphasized the importance of ASCs in the delivery of safe and efficient healthcare.