Anesthesiologists
Companies in this industry engage in the medical practice of relieving pain and providing care for patients before, during, and after surgery. Major anesthesia practice groups include Sheridan Healthcare (part of Envision Healthcare) and North American Partners in Anesthesia).
Top concerns for physicians worldwide are rising administrative burdens, and low and falling payment rates, according to the American Medical Association (AMA). Apart from taking care of patients, they can't escape from the burden of paperwork, editing letters, reports, etc. Without proper evaluation and management for medical documentation and coding, they might face inefficient payment schedule, denied payments, and improper reimbursements. Other problems of the industry include the rising costs of care, and inadequate medical resources in developing nations.
As of 2022, there are more than 50,000 anesthesiologists active in the US, according to Statista. Anesthetics are administered not only by medical doctors who specialize in anesthesiology, but also by certified registered nurse anesthetists (CRNAs) and anesthesiologist assistants (AAs) under the supervision of an anesthesiologist.
Competitive Landscape
Demand for anesthesiology services is driven by surgery volumes, which are impacted by demographics and economic conditions. The profitability of an anesthesiology practice depends on the reputation and expertise of the anesthesiologist and staff, as well as on health care reimbursement rates. Large practices have advantages in leveraging administrative processes and expensive diagnostic equipment. Small practices compete effectively by providing specialized skills and good customer service.
Products, Operations & Technology
During surgery, anesthesiologists administer anesthesia to relieve pain and control the patient's level of unconsciousness to support a successful operation.
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