Advertisement

Author: Patsy Newitt

The number of physicians running independent practices is steadily declining amid a growing gap between reimbursements and the escalating costs of maintaining these practices. 

Denials of claims are increasing, along with the administrative burden of managing them, according to Experian Health's "2024 State of Claims" survey. 

Here are five major transactions in the third quarter significantly reshaping the ASC industry, reflecting broader trends in consolidation and strategic partnerships. 

Advertisement

Independent physicians and ASC operators are closely monitoring the ongoing wave of hospital sales and market consolidation, amid the potential for reduced competition, rising costs and limited referral networks. 

San Diego-based lab company Precision Toxicology, operating as Precision Diagnostics, agreed to pay $27 million to resolve allegations it submitted false claims for medically unnecessary urine drug tests and provided free items to physicians who referred expensive laboratory testing business…

As hospitals continue to shutter services, ASCs could see an influx in patients who have lost access to services through providers at hospitals or HOPDs. 

Advertisement