Ambulatory Surgery Centers Surge Ahead: Key Trends Shaping Healthcare Delivery
The healthcare industry is undergoing a major transformation, with Ambulatory Surgery Centers (ASCs) emerging as one of the fastest-growing segments of outpatient care. These facilities specializing in same-day surgical and diagnostic procedures are expanding rapidly as patient preferences, policy changes, and investor interest reshape the delivery of care.
Why ASCs Are Growing
ASCs are projected to see a 9% increase in procedure volume between 2023 and 2028, outpacing hospital outpatient departments (7%). The cost advantage is significant: procedures at ASCs are less than half the cost of those performed in hospital settings, saving Medicare $4.2 billion annually and consumers an average of $684 per procedure.
Technology is accelerating this shift. Robotics, minimally invasive techniques, and new drug therapies are enabling more complex procedures to move into outpatient settings. Medicare and Medicaid are also expanding reimbursement for ASC-based procedures, widening access as the U.S. population ages.
Market Expansion and Profitability
In 2024, ASCs generated $45 billion in revenue, with projections reaching $57 billion by 2030. Profitability varies by specialty—colonoscopy and cataract procedures rank lower, while cardiology and spine surgeries drive higher returns. Demand growth is especially strong in endocrinology (25%), psychiatry (19%), vascular services (15%), spine (17%), and cardiology (14%) over the next five years.
National operators are consolidating the market, with the number of centers under large health systems growing from 1,339 in 2011 to 2,140 in 2024. At the same time, private equity investment is surging, reaching nearly $19 billion in 2024 and sustaining momentum into 2025.
Challenges on the Horizon
Despite growth, ASCs face headwinds from workforce shortages. The U.S. is projected to lose 86,000 physicians by 2036, with anesthesiologists in particular being a critical bottleneck. Systems are responding with flexible work models and wellness initiatives to attract and retain talent.
Additionally, some procedures once performed in ASCs are shifting into physician offices, particularly in dermatology, ophthalmology, pain management, and orthopedics, reflecting ongoing cost pressures and efficiency goals.
M&A Momentum
Mergers and acquisitions are shaping the future of ASCs. In 2025, Ascension Health announced a $3.9 billion acquisition of AmSurg, adding 250 centers across 34 states to its portfolio. Tenet Healthcare’s United Surgical Partners International continues to invest heavily, with plans to spend $250 million annually on ASC expansion.
The Bigger Picture
Ultimately, the rise of ASCs reflects the consumerization of healthcare. Patients expect accessible, efficient, and cost-effective care close to where they live, work, and shop. With insurers, health systems, and investors aligned, ASCs are positioned to be a cornerstone of healthcare delivery in the decade ahead.
Healthcare Services Report | Q3 2025
In this healthcare report, Colliers Research explores the significant growth of Ambulatory Surgery Centers (ASCs). Projected volume growth of 9% between 2023 and 2028 outpaces 7% expected for hospital outpatient departments. Much can be attributed to the flexibility of ASCs, which allows them to quickly respond to new competition and shifting patient and stakeholder preferences.
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