Ambulatory Surgery Center Market Report 2022

Ambulatory Surgery Center Market Report 2022

Executive Summary
Market At-A-Glance
The ambulatory surgery center (ASC) market is currently valued at $43.1 billion with revenue growth on the rise. From 2022 to 2027, average annual growth is projected at 5.5%, compared to a 4.1% average annual growth over the past five years.

Over 60% of surgeries are performed on an outpatient basis in an ASC or hospital outpatient department (HOPD) with an average of 20.9 cases performed in ASCs daily. As of 2022, there are over 6,000 ASC facilities
in the U.S.

Two Years Into The Pandemic, ASC Patient Volumes Recover
ASC patient volume is quickly approaching pre-pandemic rates with a 40% increase in 2022 patient volumes compared to 2020. The average ASC performed roughly 4,800 procedures in 2021. However, the pandemic is continuing to cause ASC staff shortages.

The backlog resulting from the pandemic’s period of elective surgery closure is expected to persist until at least summer 2023. Despite staff shortages and the elective surgery backlog, ASC and HOPD patients between 2020 and 2021 reported having a better overall patient experience than pre-pandemic.

Percentage Of Single-Specialty ASCs Continues To Increase
Nearly 64% of ASCs serve a single specialty, with the most common specialty being ophthalmology. Orthopedics generates the highest average revenue per case ($3,791) while cardiology is the fastest growing ASC specialty.

Spine Surgeries Lead The Way For ASC Growth
Spine procedures are one of the largest growth opportunities for ASCs. By 2028, 88% of spinal pain relief surgeries may be performed in outpatient settings. This growth is fueled by shorter recovery times, increasing payer willingness to reimburse, and less invasive technologies. One third of orthopedic surgeons suggest that augmented reality (AR) will be the most groundbreaking advancement of spine technology in the coming years.

Medicare Payments And ASC Conversion Factors Continues To Rise
Medicare is currently the second largest payer for the average ASC, contributing 36% of reimbursements. From 2015 until the beginning of the COVID-19 pandemic, Medicare payments for ASC services per fee-for-service (FFS) beneficiary grew by 6.7%. Growing alongside Medicare payments, the ASC conversion factor increased 2% in 2022.

Executive Summary
ASC Market Overview
ASC Patient Volumes Return To Pre-Pandemic Levels
Elective Surgery Backlog Persists Into 2022
Patient Satisfaction At ASCs Was Stable During Pandemic
CMS Removes Five Previously Approved ASC Procedures
ASCs To Start Reporting Proportion Of Staff With COVID-19 Vaccination
ASC Facilities Experience Double Digit Growth
Two-Thirds Of ASC Facilities Are Single-Specialty
Cardiology Is The Fastest Growing ASC Specialty
Spine Procedures Among Largest Growth Opportunities
Reimbursement Is The Key Difference Among Outpatient Facility Models
Breast Reconstruction Remains Most Expensive ASC Procedure In 2021
CMS To Measure Number Of Hospital Visits After ASC General Surgery In 2024
Medicare Outpatient Spending Continues To Rise
Pandemic Continues To Drive ASC Staff Shortages
ASCs Increase Supplies To Prepare For Future Disruptions
ASC Acquisitions Are On The Rise
Clarivate Lists Top Products Sold To ASCs Through Distribution

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