When considering where to open an ASC or healthcare business, location is key.
In July, WalletHub evaluated which states are the best and worst places to start a business. It compared each state's business environment, access to resources and business cost using 28 metrics. Read more about the methodology here.
And in a report released Aug. 1, personal finance website WalletHub assessed which states are the best and worst for healthcare. The site evaluated each state and Washington, D.C., regarding healthcare cost, access and outcomes using 42 metrics. Read more about the methodology here.
Colorado and Massachusetts were the only states to make both WalletHub lists.
At the same time, some states with good healthcare systems may not necessarily be the best to open a new ASC; certificate of need laws and payer challenges could be complicating factors. For example, Rhode Island and Connecticut have some of the nation's best health systems but were considered among the worst places to open a business.
"The New England market for ASCs is a little bit of a mixed bag," Prashanth Bala, vice president of ASC operations at Shields Health Care Group in Quincy, Mass., told Becker's on March 29. "Most of the New England states have a certificate of need or determination of need requirement to open an ASC. Though this is not different from some other markets nationally, the regulations have led to fewer ASCs per capita than anywhere else in the country."
Southern states such as Texas, Georgia, Florida and North Carolina are seen as more optimal places to open an ASC.
When considering where to open an ASC, looking beyond the states with the best healthcare systems may prove to be beneficial.
The states with best healthcare systems, according to WalletHub:
1. Rhode Island
2. Massachusetts
3. Hawaii
4. Minnesota
5. Maryland
6. Vermont
7. Colorado
8. Connecticut
9. Maine
10. Iowa
The best states to open a business, according to WalletHub:
1. Texas
2. Georgia
3. California
4. Florida
5. Idaho
6. Utah
7. Colorado
8. North Dakota
9. North Carolina
10. Massachusetts