Ambulatory Surgical Centers Market Research Reports: Market Estimated to Expand at a Robust Growth Over forecast 2024
Pertaining to the convenient nature of ambulatory surgical centers, there has been a major shift in the preference of venue for pivotal procedures. Convenience, lower out-of-pocket costs for patients, and decreased cost-per-case for insurers are some of the major factors that can be credited for this change of inclination toward ambulatory surgical centers over outpatient hospital departments. In 2011, an analysis showed that surgeries performed at ambulatory surgery centers saved Medicare $829 million when compared to costs for the same surgery in hospitals. The cost-effective factor alone is a principal factor augmenting ambulatory surgical centers industry outlook.
The rising geriatric population in the U.S. is one of the major factors that has added stimulus to the regional ambulatory surgical centers market. However, analysts have pointed out that relatively younger patients with a higher income are also likely to undergo surgery in ambulatory surgical centers. In addition to this, patients also have to pay much lower coinsurance for procedures performed in these centers than they have to pay in hospitals. For example, for a cataract extraction procedure, a Medicare beneficiary could have to pay as much as $496 in coinsurance when the procedure is performed in a hospital outpatient department. The same procedure performed at an ambulatory surgical center would mean that the beneficiary’s copayment is only around $195. The increasing awareness regarding the benefits of these centers has majorly driven U.S. ambulatory surgical centers industry trends.
Ambulatory Surgical Centers Market size was valued over USD 67 billion in 2017 and is expected to witness around 5% CAGR from 2018 to 2024.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
2. HCA Healthcare
3. Surgery Partners
4. Tenet Healthcare
5. Moog Inc
6. Smiths Medical
7. Proliance Surgeons, Inc.
8. Physicians Endoscopy
9. ASD Management
10. Covenant Surgical Partners
With lower reimbursement rates, ambulatory surgical centers market is bound to receive more promotion from payers, a phenomenon which will facilitate a competitively priced healthcare scenario. This is because outpatient hospital departments will be forced to reconsider healthcare prices in order to preserve consumer revenue. However, lower costs do not affect the quality of service provided at ambulatory surgical centers, as these care sites endorse a limited number of procedures with a high level of professionalism and maximum patient satisfaction.
Speaking about the care quality, it would be imperative to mention that during a three-month study period in 2007, it was found that 71% of ambulatory surgical centers did not have a single complication per 1,000 patient encounters and 69% did not have to transfer patients to hospitals. As compared to hospitals, ambulatory surgical centers also registered less spread of infections which resulted in more than 90% of ambulatory surgical centers reporting 3 or fewer infections per 1,000 patients. In fact, studies overwhelmingly show that the quality of care delivered in ambulatory surgical centers is equal to or better than comparable hospital care. This prime factor has indeed played a major role in impelling ambulatory surgical centers market share. Convenient scheduling and reliable service also prompt patients to choose these sites. For example, nearly a third of ambulatory surgical centers report that greater than 90% of their surgeries start within 7 minutes of the time the procedures are scheduled to begin.
Healthcare being one of those fields that incur major expenditure for the nation, it is prudent on the part of the government to promote the growth of ambulatory surgical centers industry. As per statistics, procedures performed in a hospital outpatient department cost Medicare 54% more on an average than for the same procedure when performed in an ambulatory surgical center. Currently, akin to the U.S Department of Health and Human Services, many other regional regulatory healthcare organizations have come to recognize the benefits of ambulatory surgical centers. Given that they significantly reduce costs for Federal health care programs while simultaneously benefiting patients, analysts have forecast ambulatory surgical center market size to register a CAGR of 5% over 2017-2024.
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Ambulatory surgical centers market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
Ambulatory Surgical Centers Market by Ownership
• Physician Only
• Hospital Only
• Corporation Only
• Physician & Hospital
• Physician & Corporation
• Hospital & Corporation
Ambulatory Surgical Centers Market by Surgery Type
Ambulatory Surgical Centers Market by Specialty Type
• Single specialty
Ambulatory Surgical Centers Market by Service
The above information is provided for the following regions and countries:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
• South Africa
• Saudi Arabia
Corporate Sales, USA
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