May/June 2024 Issue of Becker's ASC Review
ON THE COVER
The trends 3 ASC CEOs left in 2023
Becker's connected with the CEOs of three ASC to see what healthcare trends have outstayed their welcome and the trends they believe are gaining favor in the industry.
Payers' missed opportunity in ASCs
Payers should adjust reimbursements for more cardiology procedures to align with the quality and cost advantages of these services in the ASC setting, one ASC leader says.
116 new ASCs open in 2023
By the end of 2022, there were roughly 6,087 Medicare-Certified ASCs in operation in the U.S., with California holding the most facilities at 848.
The 'innovation in practice' mindset guiding United Digestive's new CEO
Neal Patel, MD, was promoted to CEO of United Digestive in April, and he has his eye on growth in 2024.
Rite Aid shuttering 200+ locations: What ASCs need to know
Rite Aid will shutter 53 more locations after it filed for Chapter 11 bankruptcy and announced it will close locations last year, according to April bankruptcy court filings obtained by Becker's.
Health systems are evaluating AI beyond dollar signs
When it comes to evaluating the return on investment for AI initiatives, hospitals and health systems assess whether they lead to improved patient outcomes, patient experience and operational efficiency rather than measuring it only in dollars.
This hospital CEO is done playing nice with Medicare Advantage
Bristol Health CEO Kurt Barwis says Medicare Advantage is killing the healthcare industry — but when 64% of his system's Medicare beneficiaries have MA, he has no choice but to keep contracting with plans.
Stark law's unintended consequences
Some of the largest recoveries by the Justice Department in the last year were Stark law violations, and some leaders worry the policy is hurting physicians rather than preventing corruption.
A rookie's guide to opening an ASC
As ASCs become increasingly enticing to health systems, investors and physicians alike, some healthcare leaders who are not as familiar with ASC practices may be looking to open outpatient centers.
ASC growth could hinge on this policy
Patient and provider interest in ASCs is rising, but markets that have stringent certificate-of-need laws could struggle, leaders say.
ASC Management
Aetna cuts some physical status modifiers on anesthesia claims
Aetna will no longer provide additional payment for physical status modifier 3-5 on anesthesia claims, according to an April 19 post by medical revenue cycle management group Coronis Health.
What's new with physician pay cuts?
As practice costs rise, many physician leaders are concerned about cuts in CMS reimbursements.
116 new ASCs open in 2023
By the end of 2022, there were roughly 6,087 Medicare-Certified ASCs in operation in the U.S., with California holding the most facilities at 848.
ASC growth could hinge on this policy
Patient and provider interest in ASCs is rising, but markets that have stringent certificate-of-need laws could struggle, leaders say.
Are physicians affected by competing practices?
More than 60% of physicians aren't affected by competing physician practices according to Medscape's 2024 "Physician Compensation Report" released April 12.
THOUGHT LEADERSHIP
The trends 3 ASC CEOs left in 2023
Becker's connected with the CEOs of three ASC to see what healthcare trends have outstayed their welcome and the trends they believe are gaining favor in the industry.
Where orthopedics needs more innovation
Image interpretation within the orthopedic surgery field could use more innovation, according to David Kieras, MD.
A rookie's guide to opening an ASC
As ASCs become increasingly enticing to health systems, investors and physicians alike, some healthcare leaders who are not as familiar with ASC practices may be looking to open outpatient centers.
AI is 'an essential part of spine': 3 surgeon insights
Artificial intelligence in healthcare has made great strides despite some concerns about the technology.
What will the orthopedic industry look like in 50 years?
The orthopedic industry is ripe for change.
ORTHOPEDICS
Spine surgeons on alert for these red flags when joining new groups
As with any job search, there are many factors to weigh when deciding to accept an offer. For spine surgeons, those considerations include contacts, ownership plans and communication.
14,820 orthopedic surgeons in the US: 6 BLS stats to know
An estimated 14,820 orthopedic surgeons work in the U.S, and the mean annual wage of $378,250, according to the newest data from the U.S. Bureau of Labor Statistics, released April 3.
Northwell adds 4-physician neurosurgery practice
NeuroCare Long Island in West Islip, N.Y., joined New Hyde Park, N.Y.-based Northwell Health, Long Island Business News reported April 11.
'These are crazy times': Orthopedics' biggest disruptors
The orthopedic industry is constantly changing.
How costs of cervical disc replacement and ACDF compare
Although the cost of cervical disc replacement and anterior cervical discectomy and fusion surgery costs are similar, long-term costs are different, according to a study in the April issue of Spine.
GASTROENTROLOGY
23 top hospitals for GI research, per Avant-Garde Health
Twenty-three U.S. hospitals have been named in the top 1% of institutions for gastroenterology research in 2024 by Avant-Garde Health.
GI Alliance of Illinois relocates
Arlington Heights-based GI Alliance of Illinois, which is affiliated with management services organization GI Alliance, has relocated to a new clinic.
GI Alliance affiliate grows, adds Dr. Scharles Konadu
Fort Worth-based Texas Digestive Disease Consultants, an affiliate of management group GI Alliance, has added gastroenterologist Scharles Konadu, MD.
5 numbers gastroenterologists should know
Here are five numbers that provide a snapshot of the gastroenterology industry:
The 'innovation in practice' mindset guiding United Digestive's new CEO
Neal Patel, MD, was promoted to CEO of United Digestive in April, and he has his eye on growth in 2024.
TRANSACTIONS
Optum to acquire Steward physician group
Optum, parent company of ASC chain SCA Health, will acquire financially troubled Dallas-based Steward Health Care's physician group, The Boston Globe reported March 26.
2 real estate firms join forces for medical office building acquisitions
Real estate investors Cypress West and TPG Angelo Gordon have entered a joint venture that intends to acquire $300 million in medical offices across the Sun Belt over the next two years, according to an April 17 report from Commercial Property Executive.
Maryland medical office building sells for $4.5M
A six-suite medical office building in Elkton, Md., has sold for $4.5 million, according to an April 5 report from the Maryland Daily Record.
Big systems get bigger: 5 large hospital deals to know
Large health systems are continuing to grow as regional systems look to consolidate and prepare for the future.
Physician-owned network hopes to fill gaps left by 2 Wisconsin hospital closures
OakLeaf Medical Network, a physician-owned network based in Eau Claire, Wis., plans to open four clinics in Wisconsin following the closure of two hospitals.
HEALTHCARE NEWS
24 statistics on hospital profitability
While operating margins for nonprofit hospitals dropped slightly nationwide from January to February, their financial performance has made great strides year over year, according to the Kaufman Hall National Hospital Flash Report, released March 27.
Why CFOs struggle to reach the CEO seat
The majority of CFOs have their sights set on a different role — but getting there can be a challenge, Fortune reported April 15.
Why innovation is more than a buzzword for UMMC's CEO
For Bert O'Malley, MD, president and CEO of Baltimore-based University of Maryland Medical Center, innovation is more than just a buzzword in healthcare.
Large health systems may need to rethink growth: Moody's
Scrutiny on nonprofit health system mergers and acquisitions is intensifying and Moody's warned it could become a tougher exit strategy for distressed hospitals, and affect growth of large systems, according to an April 18 2024 Healthcare Quarterly report.
Private equity healthcare bankruptcies are on the rise: 8 things to know
Healthcare bankruptcies spiked in 2023 amid high debt levels and rising interest rates, with private equity firms owning 17 out of the 80 (21%) companies that filed for bankruptcy last year, according to a report published April 17 by the Private Equity Stakeholder Project.