Video killed the radio star, and hospitals could share the same fate at the hands of ASCs if they don't reevaluate growth strategy, according to Erin Nelson, director of strategy for healthcare consultancy Catalyst, a division of Haskell.
To help hospitals survive "the growing dominance of ASCs," Ms. Nelson shared three ambulatory strategy considerations in a Nov. 18 post:
1. In markets that have costly certificate-of-need requirements or are otherwise unsuited for an ASC development, hospitals should consider investing in operational improvements to an existing hospital outpatient department.
2. By partnering with an existing ASC, a hospital can quickly diversify its ambulatory surgery portfolio by partnering with an existing ASC, which in turn benefits from additional capital for growth and/or investment in existing services.
3. It may be more costly to expand existing acute-care space than to invest in an ASC, which offers better experience and care access for patients as well as a competitive edge for hospitals.