Technavio Announces the Publication of its Research Report Global Ambulatory Surgical Centers Market 2016-2020
Technavio recognizes the following companies as the key players in the global ambulatory surgical centers market: AmSurg, United Surgical Partners International, Surgery Partners, and Surgical Care Affiliates.
Other prominent vendors in the market are: Envision Healthcare Holdings, Mednax, Team Health Holdings, Tenet Healthcare, HCA Healthcare, Symbion, SurgCenter Development, Suprabha Surgicare, ASCOA, and Nueterra Healthcare.
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Commenting on the report, an analyst from Technavios team said: One of latest trends in the market is increasing mergers and acquisitions of small practices. Consolidation of healthcare systems occurs either through merger or acquisition of small practises by corporate groups. Mergers of healthcare systems include the togetherness of separate ASCs under a shared license. Acquisitions occur when joining ASCs retain their licenses but are owned by a common governing body. Vendors are entering into M&As with hospitals, physicians and providing ownerships to develop innovative healthcare plans and health systems and gain a strong foothold in this market. Many companies are focusing on improvising the services with better infrastructure and safety that will benefit the physicians and patients. This will have a significant impact on delivering services and increasing the market growth.
According to the report, one of the primary drivers in the market is rising popularity of minimally invasive surgeries. Over the years, minimally invasive surgeries have gained popularity. The low-risk complications and benefits associated with reduced cost and less hospital stay have driven the growth of MIS market. Cardiac surgery is one of the largest segment where the market witnessed a maximum number of minimally invasive surgeries. MI techniques are increasingly used to manage diseases such as cardiac arrhythmias, dermatological conditions, cancer tumors that include tumors in the kidneys, lungs, liver, and the musculoskeletal system, and spinal disorders. MI techniques are also used in treating critical conditions of patients with other comorbidities and in inoperable patients where conventional surgeries are not feasible. Also, the application of MI techniques reduces the risk of infection, shorter hospital stays, a faster recovery time and results in less pain compared with traditional open surgeries. Procedures such as surgical arthroscopy, robotic-assisted hysterectomies, minimally invasive aortic valve surgeries, endoscopic robotic cardiac surgery have allowed surgeons to overcome the serious complications of traditional open surgeries.
Further, the report states that one major challenge in the market is unfavorable reimbursement policies. The declining nature in the reimbursement of ASCs in one of the major challenges to the global ambulatory surgical center market. The market is facing tough competition from hospitals and outpatient settings, and reimbursements in ASCs remain a major issue as the hospitals have standard favorable reimbursement policies compared to ASCs. This will affect most of the ASCs that are underperforming and make them difficult to stay in business. With the uneven reimbursement policies, it has become harder for the ASCs to stay independent in the business. Most of the insurance providers do not have separate quotes for diagnosis and surgeries, as they must rely on hospital quotes for reimbursements. ASCs have fewer overhead costs and patients pay less as the surgeries are cost effective also the reimbursement is low when compared to hospitals. ASCs receive the reimbursement annually, and it is difficult for them to negotiate with higher rates thus is becomes more difficult to form contracts. Since the reimbursement is constantly changing, ASCs find it difficult to maximize their revenue that will hinder the growth of the global ambulatory surgical centers market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Ambulatory Surgical Centers
The ASCs conduct surgeries in outpatient settings to help patients save on cost and duration of the treatment. This is a quickly growing healthcare provider setting, which has advanced operating equipment, specialist surgeons, operating and recovery rooms. Also, compared to hospitals, these facilities have a lesser risk of hospital acquired infections (HAIs). In hospitals, around 29% of the surgical site infection cases were observed in 2014, which increased the hospital stay and cost the patient $25,000 per admission. ASCs maintain procedures to ensure prevention of infection as recommended by the Centers for Medicare & Medicaid Services (CMS).
Technavios analysts forecast the global ambulatory surgical centers market to grow at a CAGR of 4.36% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global ambulatory surgical centers market for 2016-2020. To calculate the market size, the report considers the revenue generated from the service support given by ambulatory surgical centers to perform surgeries in individuals with chronic ailments.
The market is divided into the following segments based on geography:
Technavio’s report, Global Ambulatory Surgical Centers Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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