Outpatient procedure movement is happening right now! What is your response?
Surgeries taking place in the outpatient ambulatory setting are not just on the rise – they are accelerating faster than most forecasts.
First, more procedures have become Ambulatory Surgery Center (ASC) eligible:
97.5% of the 76,700 surgical cases examined over a 12-month period for a large, multihospital academic medical center were eligible to be performed in the ASC setting based on commercial payer eligibility for ASC reimbursement and with consideration of comorbidities. The surgical specialties examined included: gastroenterology/endoscopy, ophthalmology, general surgery, orthopedics, general surgery, urology, gynecology, pain management, otolaryngology, total joint replacements (excludes revisions), and spine. https://www.beckersasc.com/asc-news/surgery-migration-catching-the-confetti.html
Secondly, ASCs continue to grow in number:
From 2017 to 2018, the number of ASCs increased 2.6 percent to 5,717 ASCs. This annual growth rate was faster than growth in the period from 2013 to 2017, when the number of ASCs increased, on average, 1.5 percent per year…The number of ASCs that closed or merged has declined each year from 2013 to 2018 and has been lower than the number of new ASCs each year. http://www.medpac.gov/docs/default-source/reports/mar20_medpac_ch5_sec.pdf?sfvrsn=0
What is your response strategy to the outpatient procedure migration and what market data are you using to formulate it?
Our company provides an analytics tool for ambulatory surgery centers and we’ve ingested nearly half a billion dollars’ worth of usage information over the past three quarters. We’re working to deliver market reports that you can trust. Before we begin finalizing reports, we want to know what you want to know! We’ve put together a survey to better understand the information you, the device company buyer, need to formulate a strategy to position your company for growth in the outpatient sector. If you fill it out, we’ll make sure you get the first market report for free.
Deriving market insights is not as easy as swinging at a baseball but the principles are similar. You must know the current position of the object in focus as well as its vector (course and speed) to calculate the expected trajectory. Only then can you swing the bat to where the moving ball will be.
Now imagine hitting a pitch blindfolded. Each one of us perceives the world with our own inherent biases that make us think we know reality. Whether our opinions are formed as a result of an experience (this worked four years ago), hearsay (Dan from the 5th floor says we just need to do this), or data can make all the difference between hitting the mark or wildly missing, especially when it comes to sales and marketing.
Remove bias blinders and false positives to instead focus on deriving actionable insights from market data.
To achieve insights, clarity must first exist, typically meaning data sets are simultaneously comprehensive, detailed, and uniform in structure. One of the most glaring holes today is understanding just exactly how the outpatient elective surgery market sits.
Whatever strategy your team chooses to best position itself in the growing ambulatory surgery center environment, it’s imperative that you have the most accurate perspective on current market makeup and where it is moving the fastest. Help us help you see the ball and knock it out of the park.
Participate in a Market Research Survey
We’re turning to the industry’s top peers (that’s you!) to understand orthopedic device company interest in market reports. Be counted and get ready to work smarter, not harder.