Penn Medicine, Independence Blue Cross and Regent Surgical have partnered to develop at least 18 ASCs.
The three organizations will form a new company to run the centers, which will be located across Penn Medicine’s service area in Pennsylvania, New Jersey and Delaware. The timing, scope and economic impact of the ASCs will depend on factors including regulatory approvals, community needs and market conditions, according to a Sept. 24 news release.
Outpatient surgical volumes are projected to grow 20% through 2035, according to a study from Vizient. The release also cited MedPAC data showing Medicare pays about 46% less for ASC services than for hospital outpatient department services.
“This partnership will help us meet growing demand for outpatient surgery while driving down the cost of care in our region and keeping Penn Medicine’s standards for clinical excellence at the center of every decision,” Kevin Mahoney, CEO of the University of Pennsylvania Health System, said in the release.
In 2022, Independence Blue Cross and Penn Medicine partnered on a value-based primary care model centered on co-ownership of Independence’s physician network subsidiary, Tandigm Health.
Regent Surgical, which operates more than 40 ASCs, focuses on joint ventures with hospitals and health systems.
“Together, we have an opportunity to create a model that expands access, lowers costs and preserves hospital resources,” Regent Surgical CEO Travis Messina said in the release.
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