U.S. Ambulatory Surgery Centers Market – Insights
U.S ambulatory surgery centers market growth is attributed to advantages offered by ambulatory surgical centers in the U.S. Ambulatory surgical centers (ASC) perform surgeries that do not require hospital admission of patients. It helps patients to have access to cost-effective healthcare services. For instance, according to the Journal of Bone & Joints Surgery, 2016, patients who underwent ankle fracture surgeries in ASC had lower rates of urinary tract infections (UTIs), pneumonia, blood clots, and other complications. Moreover, increasing technological advancements in minimally invasive surgeries is further expected to drive growth of the market over the forecast period.
Furthermore, availability of significant reimbursement facilities in the U.S is expected to drive growth of the market. For instance, in November 2019, Centers for Medicare & Medicaid Services (CMS) made changes in ambulatory surgical center (ASC) payment system policy and payment rates final rule. Additional policies in the final rule are expected to continue elimination of payment differences between certain outpatient sites of service so that patients can benefit from high-quality care at lower costs.
The U.S. ambulatory surgery centers market is estimated to be valued at US$ 54,246.6 million in 2019, and is expected to exhibit a CAGR of 5.6% over the forecast period (2019-2027).
U.S. Ambulatory Surgery Centers Market Share (%) Analysis, By Ownership, 2019
Source: Coherent Market Insights Analysis (2019)
Adequate Reimbursement for Surgeries and Increasing Number of Minimally Invasive Surgeries are Expected to Drive Growth of the U.S. Ambulatory Surgery Centers Market
Increasing reimbursement for surgeries performed in ambulatory surgical centers is expected to fuel growth of the U.S. ambulatory surgical centers market over the forecast period. Centers for Medicare and Medicaid Services (CMS) offers adequate reimbursement for surgeries performed in an ambulatory surgical center. For instance, in November 2019, the Centers for Medicare & Medicaid Services (CMS) issued the Calendar Year (CY) 2020 Hospital Outpatient Prospective Payment System (OPPS) and Ambulatory Surgical Center (ASC) Payment System Policy Changes and Payment Rates final rule.
Additional policies in the final rule are expected to continue elimination of payment differences between certain outpatient sites of service so as to offer more benefits to patients at lower costs. Moreover, CMS has added total knee arthroplasty to the ASC-payable list in its 2020 medicare hospital outpatient prospective payment system and ASC payment system final rule. According to this, total knee arthroplasty will be eligible for medicare payment in the ASC setting in 2020. Along with this, additional six coronary intervention procedures, knee mosaicplasty, and 12 procedures with new CPT codes were added to the ASC-payable list in November 2019.
U.S. Ambulatory Surgery Centers Market - Restraints
Increasing number of patients opting for surgeries in hospitals is expected to act as a restraining factor for the market. Medical facilities such as multispecialty centers, specialty clinics, and others are present in the U.S. that offer medical services as ambulatory surgical centers. These facilities have presence of skilled medical professionals along with vast resources. These facilities perform outpatient surgeries as well as surgeries requiring patient admission such as cardiovascular surgeries or cancer surgeries. These factors are expected to restrain growth of the U.S. ambulatory surgical centers market up to certain extent.
U.S. Ambulatory Surgery Centers Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027
Source: Coherent Market Insights Analysis (2019)
U.S. Ambulatory Surgery Centers Market - Competitive Landscape
Key players operating in the U.S. Ambulatory Surgery Centers market include Tenet Healthcare Corporation, AmSurg Corporation, Surgery Partners, Covenant Surgical Partners Inc., Regent Surgical Health L.L.C., and Getinge Group.
Ambulatory surgery centers also known as ASC are modern health care facilities that focuses on providing same-day surgical care, including diagnostic and preventive procedures such as one day ophthalmic surgery or one day orthopedic surgery. ASCs have transformed outpatient experience for millions of U.S. population by providing them with more convenient alternative to hospital-based outpatient procedures with a strong track record of quality care and positive patient outcomes. All the ASC in the U.S. provide adequate reimbursements facilities for the ease of patients financially. ASC offers great benefits to patients such as reduced hospital stays, less expensive surgeries, fast wound healing as all the ACS perform minimally or non-invasive surgeries.
Market Dynamics
Increasing number of ambulatory surgical centers and outpatient facilities in different regions in the U.S. to perform one day surgeries is expected to aid growth of the U.S. ambulatory surgery centers market over the forecast period. For instance, according to the U.S. Commercial Real Estate Services (CBRE) analysis of 2016, the number of outpatient centers in the U.S. grew by 51% from 26,900 in 2005 to 40,600 in 2016. Furthermore, increasing number of minimally invasive surgeries is further expected to support growth of the market over the forecast period. For instance, according to the American Society of Plastic Surgeons (ASPS), around 15.7 million minimally invasive cosmetic procedures were performed in 2017 in the U.S.
In the U.S. many ambulatory surgery centers are operated through corporate firms. Big corporate firms open chains of ambulatory surgery centers to increase their market presence. This is attributed to benefits provided by the ASC, as most of the population opt for the outpatient surgeries in the U.S. hence, the inpatient surgeries rate is decreasing in the U.S. This decreasing rate of inpatient surgery admissions in the hospitals is pushing the hospitals to partner with the physicians and corporate firms to open ASC. For instance, according to Becker ASC Review report of March 2019, a corporate ASC firm SurgCenter Development has entered into partnership with over 2,200 surgeon for treatments and surgeries. These surgeons treat over 210,000 patients at the company's outpatient centers, annually.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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