IC 103-2023: The Business of Medicine: Hospital-Based, Academic, Private Practice - Learning How To Succeed-IC 103 - The Business of Medicine: Hospital-Based, Academic, Private Practice

IC 103 - The Business of Medicine: Hospital-Based, Academic, Private Practice - Learning How To Succeed (2/5)

Video Transcription

Video Summary

In this video, the speaker discusses the advantages and opportunities of practicing orthopedic surgery in an ambulatory surgery center (ASC). They emphasize that the private practice mid-size with ancillaries in a surgery center is the best way to practice orthopedic surgery. They mention that there are about 6,000 ASCs in the United States, and this number is expected to double in about 10 years due to aging population and increasing musculoskeletal procedures. The speaker also highlights that patients prefer ASCs over hospitals due to factors such as high deductible plans and co-pays. They discuss the barriers to setting up ASCs, including certificate of need laws and capital requirements. The speaker shares examples of successful ASCs for total joints and spines, emphasizing their safety, effectiveness, and higher reimbursement compared to hospitals. They stress the importance of value-based care contracting and the potential growth in ASC usage for orthopedic procedures. The speaker concludes by encouraging healthcare practitioners to take advantage of the ASC opportunity.

Asset Caption

Louis McIntyre, MD

Keywords

orthopedic surgery

ambulatory surgery center

private practice

ASC

value-based care contracting