The urology market is poised for growth, according to a recent collection of statistics from investment bank Global Healthcare Advisors.
GHA Managing Director JC Lupis shared the report with Becker's ASC Review. It is available for download here.
Eight things to know about urology in ASCs and private practice:
1. Urology ASCs comprised 3.8 percent of all single-specialty ASCs in 2018 (127 of 3,277).
2. Only one of the 20 most common ASC services in 2018 was a urology service: cystoscopy, at No. 17.
3. Urology ASC cases generated $2,400 per case in 2017, the No. 4 top revenue-boosting specialty behind orthopedics, otolaryngology and podiatry.
4. More than one-quarter (28 percent) of urologists working in private practice are in large groups with at least five locations.
5. The percentage of private practice urologists working in large groups with at least 10 providers jumped from 15.4 percent in 2015 to 31.6 percent in 2019.
6. Twenty-two percent of practicing urologists work in practices with more than 15 providers.
7. From 2014-19, the share of urologists working in an institutional setting such as an academic medical center or hospital climbed from 33.9 percent to 46.1 percent.
8. More than half of urologists who work in a private setting are practicing in a single-specialty group.