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Ambulatory Surgical Centers Market to observe remarkable push| Forecast 2018-2024

Author : Rahul Sankrityayan | Published Date : 2019-03-25 

Global Ambulatory Surgical Centers Market is set to exceed USD 92 billion by 2024; according to a new research report by Global Market Insights. Rising prevalence of chronic diseases coupled with technological advancements enabling development of sophisticated medical devices will favor the industry growth over forecast period. Such medical devices enable ambulatory surgical centers to offer superior quality treatment at an affordable price. In response to the increasing healthcare cost burden, regulatory authorities are further supporting development of such devices that is predicted to impact the ambulatory surgical centers market growth.

Ongoing efforts from organizations such as Ambulatory Surgical Centers Association to increases awareness pertaining to the benefits of ambulatory surgical centers market will influence industry growth. These organizations are further looking to improve decision making process in cases of specific patients and develop ties with other organizations to increase overall accessibility and minimize cost of ambulatory settings. Such ongoing efforts will fuel the industry growth over foreseeable future.

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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.

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.

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Market by Ownership

Physician Only
Hospital Only
Corporation Only
Physician & Hospital
Physician & Corporation
Hospital & Corporation

Market by Surgery Type

Dental
Otolaryngology
Endoscopy
Obstetrics/Gynecology
Ophthalmology

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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