Here are 10 takeaways from healthcare experts who attended the ASC 29th Annual Meeting in October, as compiled by Becker's staff:
1. To succeed in the next five years, ASCs should invest in data analytics to understand operational and quality metrics. Cost and quality data will be critical to negotiate value-based contracts and stay compliant with CMS quality reporting policies.
2. The management service organization will likely continue as independent physician groups' consolidation model of choice. It will allow physicians to remain autonomous but have access to capital for big purchases.
3. Many ASCs are looking to social platforms to engage patient populations. Some even are investing in in-house marketers to create content for their organizations.
4. Teaming up new nurses with older nurses is not working to bridge generational gaps. Established nurses are getting tired of mentoring, and new nurses feel like they are not being heard. ASCs are instead building a system in which both generations' expertise will be necessary and considered.
5. Diversification is an important lever for ASC growth. For example, an interventional pain ASC could build around its specialty with complementary services such as physical therapy and wound care.
6. ASCs that embrace value-based care now will gain a long-term competitive edge.
7. ASC leaders should not be concerned about retail giants like Amazon, Walmart and CVS "taking anything away" from them. They should instead lean into what these models are proving effective, such as asynchronous care, to save time and energy.
8. ASCs should not underestimate geriatric patients. More than 80% of Medicare patients have smartphones, and they know how to use them. Traveling and waiting for in-person visits can be exhausting for them, so they are leaning into virtual care as much as anyone else.
9. ASCs hiring young staff members should be prepared for them asking for more money, getting poached more easily and turning down a job if the staff is not diverse enough.
10. Passive purchasers are becoming active purchasers in healthcare, which could present opportunities for ASCs. As employers' rising healthcare costs force them to reevaluate payer contracts, there could be great opportunity for more direct-to-employer arrangements, on which ASCs could capitalize.