July/August 2023 Issue of Becker's ASC Review
ON THE COVER
Physician groups are being snapped up — 5 reasons why
As costs rise and the industry increasingly consolidates, physician practices are increasingly looking to hospitals, health systems and commercial groups for financial security, according to a report published June 7 by the American Hospital Association.
CMS adds physician owner waiver for Stark law
CMS added a Stark law waiver for physician owners of independent free-standing emergency departments that served Medicare patients during the COVID-19 pandemic, according to an article written by three attorneys from the firm McDermott, Will & Emery and published in Lexology on June 2.
ASC margins can't take it anymore
For many ASCs, margins can't tighten anymore. But cost pressures persist and insurance companies haven't adjusted to reflect rising supply and labor costs.
5 numbers troubling gastroenterologists
Here are five numbers that may be troubling gastroenterologists.
Optum's spending spree continues
UnitedHealth Group's Optum, parent company of ASC chain SCA Health, is on a spending spree, acquiring more than $10 billion worth of companies in the last year.
The future of ASCs in 1 word
The future of ASCs may prove to be simultaneously bright and challenging.
Private equity turns to cardiology after courting ASCs for years
Private equity firms have long used ASCs as investment vehicles, and after courting key ASC specialties like gastroenterology, orthopedics and ophthalmology, they could be looking to cardiology as a new area of growth.
Where are the women in orthopedics?
The orthopedic industry is ever-changing, with new robots and surgical techniques seemingly always around the corner. But one aspect of this vibrant industry hasn't changed much since its conception — the lack of women in the operating rooms.
ASC Management
Physician groups are being snapped up — 5 reasons why
As costs rise and the industry increasingly consolidates, physician practices are increasingly looking to hospitals, health systems and commercial groups for financial security, according to a report published June 7 by the American Hospital Association.
Salem ASC closes doors after less than 2 years, millions of dollars in renovations
In February, the Salem (Ore.) Outpatient Surgery Center closed its doors in response to low patient volumes, putting all future plans on hold according to a press release from the health system. Months later, the building still remains shuttered, according to a June 14 report from the Statesman Journal.
Physician pay is increasing in these specialties
Twenty-one physician specialties saw pay increases in 2023, according to Medscape's "Physician Compensation Report 2023."
CMS adds physician owner waiver for Stark law
CMS added a Stark law waiver for physician owners of independent free-standing emergency departments that served Medicare patients during the COVID-19 pandemic, according to an article written by three attorneys from the firm McDermott, Will & Emery and published in Lexology on June 2.
ASC operator Envision to file for bankruptcy
ASC operator and physician services company Envision plans to file for Chapter 11 bankruptcy, according to a May 10 report from The Wall Street Journal. The filing could happen as early as this weekend, according to the report.
THOUGHT LEADERSHIP
The healthcare disruptors scaring physicians
Six healthcare leaders recently joined Becker's to discuss the biggest disruptors concerning physicians.
Why Optum's lack of 'checks and balances' concern 1 CEO
According to Michael Meyers, president and CEO of Manhasset, N.Y.-based medtech company Meyers & Gerard Medical, Optum's quick growth and acquisition of physician groups is a cause for concern.
The future of ASCs in 1 word
The future of ASCs may prove to be simultaneously bright and challenging.
ASC margins can't take it anymore
For many ASCs, margins can't tighten anymore. But cost pressures persist and insurance companies haven't adjusted to reflect rising supply and labor costs.
Orthopedic group size: How big is too big?
Orthopedic practices have gotten bigger over the years to capture economies of scale and stay independent. But how big is too big?
ORTHOPEDICS
Rothman Orthopaedics' strategy to 'grow intelligently': Q&A with Dr. Alex Vaccaro
Forty-one clinic locations across four states. One hundred thousand surgeries completed and 22 new physicians hired in 2022. Revenue growth of 8.2 percent year over year.
Orthopedic ASC rejects 'sexy, exciting, crazy technology' in favor of new growth model
Andrew Lovewell joined the Becker's Ambulatory Surgery Centers podcast to talk about the future of orthopedics in ASCs and his practice's unique approach to growth.
Where are the women in orthopedics?
The orthopedic industry is ever-changing, with new robots and surgical techniques seemingly always around the corner. But one aspect of this vibrant industry hasn't changed much since its conception — the lack of women in the operating rooms.
Bill closing 'Dr. Death' loophole signed into law: 3 notes
A patient safety bill aimed at closing a "Dr. Death" loophole was signed by Texas Gov. Greg Abbott June 13.
GASTROENTROLOGY
UnitedHealthcare's 'ulterior motive' to new advanced notification process
On May 31, UnitedHealthcare reversed the proposed June 1 implementation of a controversial prior authorization process that would require gastroenterologists to submit requests for certain endoscopy procedures.
Medtronic to discontinue GI SmartPill after 17 years
Medtronic plans to discontinue its SmartPill, a wireless ingestible capsule that monitors pH, transit time and temperature in the digestive tract, following 17 years on the market, according to a June 22 report from Medscape.
The bargaining chip gastroenterologists are using to command higher salaries
Gastroenterologist pay has risen 11 percent in the last year, reaching $501,000 annually and outpacing the average specialty physician pay by $119,000.
Johns Hopkins' 1st pediatric gastroenterologist, Dr. Alan Lake, dies at 76
Alan Lake, MD, the first board-certified pediatric gastroenterologist at Baltimore-based Johns Hopkins Hospital, has died at 76, according to a June 23 report from The Baltimore Sun.
5 numbers troubling gastroenterologists
Here are five numbers that may be troubling gastroenterologists.
TRANSACTIONS
Optum's spending spree continues
UnitedHealth Group's Optum, parent company of ASC chain SCA Health, is on a spending spree, acquiring more than $10 billion worth of companies in the last year.
Connecticut health system acquires 2 ASCs, can't charge facility fees
Hartford HealthCare has been approved to acquire two ASCs in Connecticut, the Hartford Business Journal reported May 12.
Who is acquiring the vast majority of physician practices?
Private equity has been the largest acquirer of private physician practices over the last five years, according to 2023 data from the American Hospital Association.
Good news for ASCs? What UnitedHealth, Humana said about rising medical costs
Recent comments from UnitedHealth and Humana suggest medical costs could rise from delayed elective surgeries, which could be good news for ASCs, ALM Benefits Pro reported June 20.
AmSurg to buy Envision's ASCs
Following plans to file for Chapter 11 bankruptcy, Envision Healthcare reached a restructuring agreement with its stakeholders.
HEALTHCARE NEWS
Hospitals will be 'rare exception': What healthcare will look like in 100 years
Healthcare is advancing more swiftly by the year with new technologies, treatment options and artificial intelligence models hitting hospitals across the world.
Healthcare workers keep calling it quits
Healthcare saw a bump this spring in the number of resignations as a share of total employment as many other industries begin to see the quits rate abate, according to The Wall Street Journal.
Why don't millionaires fund medical students?
The physician shortage in the U.S. is common knowledge. Why don't more donors put their money toward tuition for people to become physicians?
CVS, Amazon shutting down their health businesses
Amazon and CVS have been trying their hand at the healthcare industry for years, but not without fail — the two healthcare disruptors recently announced that they would be shuttering some of their healthcare initiatives.