The "shopping era" of healthcare and new price transparency requirements give patients more power than ever, a pairing that could leave ASCs poised for growth.
"COVID-19 absolutely affected patient choice when it comes to surgeries on the elective side of the spectrum," Andre Blom, CEO of Des Plaines-based Illinois Bone & Joint Institute, told Becker's. "We need to all pay attention to how and why patients are partnering with these decisions. Network options will have to be designed in a manner that encapsulates all the needs of the patient — inclusive of financial awareness."
Since last year, hospitals have been required to post prices negotiated with private payers online. CMS also is requiring payers and health plans to disclose in-network provider rates by July 1.
While ASCs and physician practices have been required to provide cost estimates for self-pay patients since Jan. 1, the requirement to post cost estimates to patients who don't pay out of pocket requirements have yet to fall on ASCs.
Regardless of price transparency requirements, ASCs are often the lower-cost setting for surgeries, and their cost data and strong quality metrics speak for themselves.
With more power in patients' hands, ASCs stand to win.
"Patients are now healthcare consumers, and improving the patient experience and expanding how healthcare is delivered are top priorities," Gavriel Meron, chairman and CEO of HyGIeaCare, told Becker's.