Considering adding cataract surgery to your ASC or hospital’s offerings but hesitant about the significant financial commitment?
You’re not alone. Investing in the specialized equipment required for ophthalmology can be a daunting prospect, especially when assessing the potential demand in your market. Fortunately, there’s a smart and strategic solution that allows you to test the waters and minimize your risk: outsourcing your cataract surgery equipment and services.
Here are 7 key reasons why outsourcing is the ideal way to explore the cataract surgery market with reduced risk:
- Eliminate the Barrier of Massive Upfront Investment: One of the biggest hurdles for any facility considering a new specialty is the significant capital outlay needed for equipment. Cataract surgery is no exception, with costs for phacoemulsifiers, microscopes, and instrumentation ranging from $100,000 to $150,000 per OR. Outsourcing removes this barrier entirely. As long as you have an operating room, an ophthalmologist, and enough staff, you can begin performing procedures without investing a dime in purchasing equipment. This immediately reduces your financial risk.
- Test the Market Without Long-Term Commitment: Outsourcing provides a “risk-free way to test the market”. You can introduce cataract surgery to your OR without being locked into owning expensive equipment that might not be fully utilized if case volumes are lower than anticipated. This flexibility allows you to gauge the demand and profitability of cataract procedures in your specific area before making any substantial capital commitments.
- Avoid Ongoing Costs Associated with Ownership: Equipment ownership doesn’t end with the initial purchase. You’ll also face on-going maintenance contracts, repair costs, and replacement expenditures. These costs can add up significantly over time. With outsourcing, the outsourcing company (that’s us, Surgical Direct) bears these responsibilities and expenses, further reducing your financial risk, especially if the service doesn’t immediately gain high volume.
- Embrace a “Pay-As-You-Go” Model: Most outsourcing agreements operate on a “per-case pricing structure”. This means you only pay for the service when it’s actually used. If a surgery day needs to be canceled or if patient volume fluctuates, you’re not stuck with idle, expensive equipment or unused inventory. This “pay-as-you-go” model directly translates to reduced financial risk and a more predictable cost structure.
- Scale Services According to Demand: As your cataract surgery program grows (or if it doesn’t meet initial projections), outsourcing allows for flexible scaling. You can easily adjust the number of surgery days or the specific equipment needed without the complications and financial implications of owning underutilized or insufficient equipment. This adaptability is crucial when testing a new market.
- No Risk of Technological Obsolescence: The technology used in cataract surgery is constantly evolving. Investing in equipment means facing the risk of your purchases becoming outdated. Outsourcing companies (like us), however, stay abreast of the latest technology and stock it to meet physician needs. This ensures your surgeons can utilize current advancements without your facility incurring the cost and hassle of frequent upgrades, minimizing the risk of being stuck with outdated and less efficient machines.
- Focus Your Capital on Established Strengths: By outsourcing cataract surgery equipment, your facility can preserve its capital for investments in its existing, profitable specialties. You can test the viability of adding ophthalmology without diverting crucial funds away from your core competencies, allowing for strategic growth and reduced overall financial risk.
In conclusion, outsourcing cataract surgery equipment and services offers a compelling solution for facilities looking to explore a new market with minimal risk. By eliminating the need for significant capital expenditure, providing flexibility, and managing ongoing equipment concerns, outsourcing allows you to confidently assess the potential of cataract surgery in your community before making long-term financial commitments.
It’s a smart way to test the waters and potentially unlock a new revenue stream for your organization.
Surgical Direct is an established and time-tested partner for this exact scenario. If this interests you and you’d like to get more information on what a partnership might look like, contact us today, and let’s start the conversation.
We’re here to help your organization grow.
