Hospital employment vs. independent physicians — How do ASCs come into play? 6 things to know

In the evolving healthcare industry, the age of independent physicians seems to be fading with more physicians opting for hospital employment. Regent Surgical Health outlines the role ASCs play in the changing healthcare field and the ways in which physicians and hospitals alike can benefit from ASC joint ventures.

Here are six things to know:

1. The number of physicians who own their own practice has significantly dropped from 76 percent in 1983 to 51 percent in 2014, as reported by the American Medical Association, according to Regent Surgical Health.

2. Between 2012 through 2014, hospital employment by physicians has risen 29 percent to 33 percent, as reported by the AMA, according to Regent Surgical Health.

3. Hospital employment may serve as a more attractive option for younger physicians. The number of physicians under the age of 40 who were employees or independent contractors increased from 45 percent to 63 percent for male physicians, and 58 percent to 69 percent for female physicians from 1983 to 2914.  

4. ASC joint ventures are a preferred option for hospital leaders and physicians. Physicians can have more independence, added sources of revenue as well as entrepreneurial opportunities. ASCs provide hospitals with a long-term physician alignment solution.

5. The relatively speedy turnaround time an ASC offers results in increased patient and physician satisfaction and more time for physicians. The reduction in onsite recovery times allows ASC physicians to take on more cases and bring in more revenue.

6. Regent Surgical Health advises ASCs to adopt a hospital contracting model, which reduces hospital's financial investment and risk while also preventing physicians from competing with hospitals in other transactions. This strategic model allows hospitals  to maintain control over areas including budget, strategic decision and disposition of assets, and allows physicians to control clinically-related operating policies and equipment purchases.

More articles on surgery centers:
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AmSurg receives 'strong buy' rating for the short term — 5 key notes
HCA receives 'B+' credit rating — 4 notes

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