We have a long history of partnering with physicians and healthcare systems to in joint ventured ambulatory surgery centers (ASCs). With a focus on growth and one of the industry's most experienced management teams, we are equally adept at acquiring existing facilities and developing new facilities. We offer partners expertise and high-quality resources.
Our flexible approach is the key to our success. Years of experience have shown us no two markets are alike. Each community we serve is unique, so we work with partners to develop a customized strategy for each facility.
The ambulatory surgery center industry has a long and rich history of meeting the needs of the communities we serve. The first ASC was established in Phoenix, Arizona in 1970 by two physicians who wanted to provide timely, convenient and comfortable surgical services to patients in their community. In 1982, Medicare began reimbursing ASCs, saving the program billions of dollars.
Today, more than 5,300 ASCs in the United States perform 23 million surgeries annually. Medicare grants approval for ASCs to perform more than 3,500 procedures. ASCs create significant savings for both patients and the healthcare system.
ASCs are also a cost effective solution for payors, including private insurers, commercial payors and the Medicare system. Currently, ASCs save Medicare approximately $2.0 billion annually, and shifting just 50 percent of eligible outpatient procedures from hospital outpatient departments to ASCs would result in an additional $2.3 billion in savings to Medicare.
ASCs have become an important provider of outpatient medical care in the US, committed to providing quality patient care at a significant savings to the individual and the healthcare system.