Trend Shifts Toward Outpatient Orthopedic Procedures
Decision Resources report shows how shifting procedural site affects competitive strategy in the orthopedic device industry
BURLINGTON, Mass., Aug. 23, 2016 /PRNewswire/ -- Decision Resources Group finds that in spite of a longstanding discrepancy between hospital and ASC (Ambulatory Surgical Center) reimbursement, the number of ASCs in the United States is rising steadily, reflecting a general trend toward outpatient procedures. With the typical orthopedic ASC value proposition touching on themes like convenience and efficiency, patient and provider satisfaction, economic value, physician ownership and management, product innovation, and patient safety, ASCs pose an increasing threat to orthopedic procedure site of service historical norms, which heavily favored hospitals. Although many questions remain unanswered, what is certain is that medical device companies must embrace the increasingly changing site of service landscape for orthopedic patient care if they are to withstand competing pressures and ride the crest of market growth that is sure to accompany ASC success. This webinar explores some strategic themes and insights that have come to light through DRG's focus on ASC-specific data and trends.
Other key findings from the Orthopedic ASC-focused Webinar include:
- There is significant inconsistency in the perception of key opinion leaders regarding the future of orthopedic care in ASCs
- A number of key events such as new additions to the ASC payable list point toward an expanded role for ASCs in orthopedic care
- Procedural growth and adoption, patient demographics, and the surgical specialty performing a specific procedure can vary significantly between settings for the same procedure
- Orthopedic device pricing today is seemingly far more variable in the ASC setting when compared to hospitals
Comments from Decision Resources Group Analyst René Azeez:
- "The fact is that if you take a very wide view, most of the health care data providers do have a reasonably reliable ballpark estimates for what would be the size of the global orthopedic industry. The truth, however, is that it's still clear that ASCs are very much nuanced and the trends are not as well understood. ASC trends can be quite different from other settings."
- "Although procedures might be performed in multiple settings, their adoption in those settings is not necessarily directly proportional, but they are dependent on a myriad of independent factors. Factors like the complexity of a procedure, reimbursement inconsistencies—particularly in the ASC setting—surgeon comfort, and the degree of invasiveness of a given procedure can alter trends dramatically."
Additional Resources:
- René Azeez has written a report on the subject, which can be found here.
For more information on purchasing this report, please email [email protected]
About Decision Resources Group
Decision Resources Group offers best-in-class, high-value data, analytics and insights products and services to the healthcare industry, delivered by more than 1,000 employees across 17 global locations. DRG provides the pharmaceutical, biotech, medical device, financial services and payer industries with the tools, insights and advice they need to compete and thrive in an increasingly complex and value-based marketplace. DecisionResourcesGroup.com.
Media contact:
SHIFT Communications
Rosie Hale
617.779.1893
[email protected]
SOURCE Decision Resources Group
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