IC206-2021: The Business of Medicine: Hospital-Based, Academic, Private Practice - Learning How To Succeed-The Business of Medicine: Hospital-Based, Academic, Private Practice

The Business of Medicine: Hospital-Based, Academic, Private Practice - Learning How To Succeed (3/5)

Video Transcription

Video Summary

In this video, the speaker discusses the value of surgery centers in healthcare and how orthopedic surgeons can take advantage of them to improve efficiency, volume, and quality of care. The speaker mentions that ambulatory surgery centers (ASCs) have seen significant growth in the past 20 years, and it is estimated that 80% of all surgical procedures will be done in ASCs in the next 5 to 10 years. The speaker highlights the cost advantages of ASCs compared to hospitals and emphasizes the need for orthopedic surgeons to consider owning and controlling surgery centers to maximize the value they bring to healthcare. The speaker also mentions the barriers and opportunities associated with ASCs, such as the high cost of building and managing them, the impact of Certificate of Need (CON) laws, and the potential for increased patient satisfaction and revenue. The speaker concludes by stating that now is the time for orthopedic surgeons to take advantage of the ASC trend before the opportunity closes, and shares positive data and experiences from ASCs performing outpatient total joint procedures.

Asset Caption

Louis McIntyre, MD

Keywords

surgery centers

orthopedic surgeons

ASCs

cost advantages

patient satisfaction