By the end of 2020, almost 70 percent of physicians reported being employed, and there was a steep acceleration of physicians joining hospitals or corporate entities in the last six months of the year.
ASC Transactions & Valuation Issues
Physicians have strong opinions about private equity investment in healthcare. Some see huge potential, while others are skeptical of outside investors.
Physician-owned ASCs often have a difficult time competing with the influx of health systems or hospital-affiliated ASCs, according to one executive.
Clearway Pain Solutions in Annapolis, Md., has added Montgomery, Ala.-based the Center for Pain and its five physicians, to the platform, Clearway said June 30.
In 2021, Brentwood, Tenn.-based Surgery Partners plans to execute on over $400 million of transactions.
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Hospitals owned just over a quarter of U.S. physician practices by January 2021, according to a June 29 report from Avalere.
Towson, Md.-based SurgCenter Development unloaded 45 ASCs to United Surgical Partners International in a $1.1 billion deal Dec. 10, but the company has announced plans to develop two ASCs since Jan. 1.
Physician groups are beginning to recover from productivity and revenue losses during the pandemic, according to the June 28 Kaufman Hall "Physician Flash Report."
As Medicare reimbursements shift in the next two to four years, some ASC executives are concerned about how ASCs can remain profitable amid inflation.
An ASC and medical office building in Wauwatosa, Wis., was sold for $3 million, Milwaukee Business Journal reported June 22.