ASC’s specialized skills may help them survive recent inflation
“The best thing you can do is be good at something.”
These are the words from billionaire CEO of Berkshire Hathaway, Warren Buffett, to investors at a recent shareholder meeting. They bode well for the future of ASCs in light of recent inflation, according to Laura Dyrda of Becker’s.
Businesses across all markets continue to feel the crunch of rising product cost and compensation requirements from employees. Therefore, specialized centers focused on fewer procedures will be successful in today’s financial environment as they are well-equipped to cope with inflation.
Dyrda explains that with a singular focus, and despite the rise in inflation, ASCs become increasingly efficient and effective. This is in comparison to larger competitors, such as hospital systems. In turn, this efficiency and quality draws in larger numbers of patients, helping secure the centers’ bottom line.
With a large quantity of patients looking for procedures, volume is of little concern to ASCs.
“There were around 13.1 million surgical procedures performed in 2019 before the pandemic, according to a JAMA Network Open article,” Dyrda says. “That number will likely increase with the aging population growing larger and as hospitals and health systems learn to maintain surgical volumes even during future surges.”
By offering improved patient experiences and lower healthcare costs, ASCs continue to set themselves up for success during difficult times. A continuing trend of looking to partner directly with large employers adds another boost to potential patient volume.