Here are five things to know:
1. The study authors identified ASCs in the Free Market Medical Association database that publicly list prices for surgical services online.
2. Among five ASCs that reported their patient volume and revenue after adopting price transparency, patient volume increased by a median of 50 percent at one year.
3. Four centers reported a revenue increase, with a median revenue increase of 30 percent. Three centers reported an increase in third-party administrator contracts.
4. Three centers reported a reduction in their administrative burden. Five ASCs reported an increase in patient satisfaction and patient engagement after adopting price transparency.
5. The researchers identified the leading barrier to price transparency adoption as discouragement from another practice, insurance company or hospital.
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At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.