Slicing the Ownership Pie: Physician Specialty and Ambulatory Surgery Center Ownership Over Time

• In Event: Physician Pathways under Policy Shift: Capital, Care, and Career Moves

Abstract

Since 2000, the number of physicians who own ambulatory surgery centers (ASC) has grown considerably, following the implementation of federal regulations that has protected physician investors from anti-kickback laws. During this time, the composition of ASC owners has also evolved, reflecting broader shifts in the physician workforce and U.S. healthcare market.

In this paper, we examine the factors that motivate physicians to financially invest in ASCs, and explore the implications of these ownership patterns for the physician workforce. Our analysis utilizes new data on ASC ownership in conjunction with Physician Compare data on active U.S. physicians. 

Our findings show a gradual but notable increase in the share of ASC owners who are women  rising from 5% in 2000 to 8% in 2019. However, this trend varied significantly by specialty. For example, the share of obstetrics and gynecology ASC owners who are female nearly doubled from 12.5% to 23%, while the growth in female ownership was much more modest in most other specialties. Our analysis considers variation in ownership by specialty and over time to examine the changing composition of ASC owners, and the impacts of these changes for the physician workforce and patient care.

Authors

• Yaa Akosa Antwi
  Non-Presenting Co-Author

• Beth L Munnich, University of Louisville
  Presenting Author

• Ellerie Weber, Icahn School of Medicine at Mount Sinai
  Non-Presenting Co-Author