Orthopedics has gained distinction in the past year for being the second-highest-paid ASC specialty and the top earner among physicians, with an average annual salary of $558,000.
The high compensation among orthopedic surgeons is just one marker of the industry's growth. Outpatient surgical volume overall is expected to grow by 18% over the next decade, according to the 2023 Impact of Change Forecast report published by Sg2, a Vizient company and healthcare consulting group.
The report identified total joint replacement, lumbar/thoracic spine surgeries and revision knee replacements as the top procedures shifting to outpatient settings. TJR, in particular, has seen significant growth among ASCs. The number of knee replacements taking place in ASCs jumped 293% from 2019 to 2023, according to the 2023 "Stata and Syntellis Performance Trends" report.
One factor driving the migration of orthopedic procedures to the ASC could be an increase in access to robotics that make high-acuity procedures more feasible in outpatient settings. According to the American Joint Replacement Registry's 2023 report, the use of robots in total knee arthroplasty grew sixfold between 2017 and 2023.
"As an orthopedic CEO and practicing surgeon, I've witnessed firsthand the transformative impact of outpatient hip and knee arthroplasty on our surgery centers," David Jevsevar, MD, CEO of OrthoVirginia, told Becker's in September. "These procedures significantly enhance our center's efficiency, allowing us to treat more patients without the need for extended hospital stays. This not only streamlines our operations but also translates to a notable reduction in overhead costs associated with prolonged inpatient care."