Question: What are the biggest opportunities for orthopedic surgeons to get involved in new practice and payment models to stay independent in the future?
Dr. John Cherf: There is a great opportunity for orthopedic surgeons with new payments models. It will require new business models that transition orthopedic surgeons from strictly surgeons to managers. It will require new skills, new analytics and new risk taking, but the model will provide a very strong opportunity for orthopedic surgeons.
Initially, I think the change is intimidating, but this may be one of the best opportunities for a new ancillary service in the future.
Q: How has reimbursement changed for orthopedic surgery in ASCs over the past five years? Where do you see it headed over the next five years?
JC: There continues to be pressure to reduce costs and lower provider payment that will likely continue in the future. Simultaneously, practice overhead costs continue to increase largely driven by government policies. It has been difficult for orthopedic surgeons to maintain the profit margin they had in the past. Having said that, there are opportunities for new revenue streams for orthopedic surgeons by taking on more financial and actuary risk for the cost of care.
Q: What uncertainties about healthcare or your practice keep you up at night?
JC: Government intervention is the biggest wild card in healthcare today. My confidence that the government will implement fundamentally sound programs that will improve healthcare is limited.
Current political and economic trends are making it very difficult for private practitioners. This is unfortunate given that private practice models are often the most efficient and cost-effective models of care that historically have high patient satisfaction.
More articles on orthopedics:
https://www.beckersspine.com/orthopedic/item/26941-dr-kevin-borchard-joins-the-memorial-hospital-4-quick-facts.html
Dr. Kevin Borchard joins The Memorial Hospital: 4 quick facts
https://www.beckersspine.com/orthopedic/item/26940-orthopaedic-associates-of-michigan-plans-10m-facility-5-things-to-know.html
Orthopaedic Associates of Michigan plans $10M facility: 5 things to know
https://www.beckersspine.com/orthopedic/item/26934-http-nyulangone-org-doctors-1134116445-thomas-youm.html
Orthopedic surgeon to know: Dr. Thomas Youm of NYU Langone Medical Center
