The American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS), the world’s largest association of facial plastic surgeons, today released its 2021 member survey outcomes. Despite lingering pandemic concerns, 2021 saw catapulting demand for facial plastic surgery and aesthetic procedures as in-person events and face-to-face socialization resumed.

After almost two years of canceled plans, minimal makeup and over analyzing their reflections on ZOOM, men and women are ready to regain confidence and shake off the sense of languishing dread that has dominated the collective consciousness throughout the pandemic. This sentiment is apparent in the newly released AAFPRS survey of aesthetic trends and motivators. 

According to AAFPRS members, the total number of surgical and non-surgical facial plastic surgery treatments is up dramatically. An estimated 1.4 million surgical and non-surgical procedures have been done in the past year, with plastic surgeons performing an average of 600 more procedures than they did in 2020, a 40 percent increase.

Furthermore, 83 percent of AAFPRS surgeons saw an increase in bookings over the course of the last year (up from 70 percent from 2020). Surgical procedures (rhinoplasty, facelift, blepharoplasty) are the most common procedures as part of this upsurge, but the demand for non-surgical treatments grew as well. 

Explaining the Surgical Surge
Those AAFPRS members who experienced an increase in appointments almost unanimously (92 percent) indicate it is because patients have had more time and flexibility to recover from treatments since many are still working from home or now have a hybrid workplace option. The enduring “ZOOM Effect” has factored in as well, according to 89 percent of respondents, as has the money-saving benefits of staying-in have resulted in more disposable income. 

With the daunting prospect of re-entering society in ‘real life,’ instead of from behind a filtered Instagram lens and with a year to pick apart appearance on video conferences, 2021 found patients more motivated than ever to indulge in the ‘tweakments’ for which they had been longing. A staggering 83 percent of AAFPRS members say 75 percent or more of their work is facial plastic surgery, up from 75 percent of surgeons reporting on the trend in 2020.

AAFPRS President Corey S. Maas, MD shares, “after lockdowns ended and vaccinations rolled out, our patients who had been postponing reconstructive work, upkeep, maintenance or surgery were eager to schedule treatments to help them feel refreshed, confident and ready to take on work, events, playdates - all of those things that were previously paused. Plus, with more time still being spent at home, there was less concern about the recovery time for surgical treatments.”

Social Media Motivators
With the pandemic’s breakout stars ZOOM and TikTok firmly embedded in daily culture, the 2021 AAFPRS survey detailed an enormous increase in the trend for people seeking procedures to look better on screen. To illustrate, 79 percent of facial plastic surgeons identify patients seeking procedures for an improved appearance on video conferencing as a rising trend, compared to only 16 percent the previous year.

“The use of video for business, social media and self-promotion is now so ingrained in society that it provides an easy and ever-present lens for self-scrutiny,” shares Dr. Maas. “We’ve slowly moved from static image filters to ‘ZOOM dysmorphia’ being the major patient motivator as the pressures of a virtual lifestyle continue to impact the way we view ourselves and the way we present to peers.”

The now culturally ingrained desire to look better in selfies (aka ‘selfie awareness’ as coined by the AAFPRS) continues to trend up, with 77 percent of members, reporting this as a driving factor for patients - up 35 percent overall since the AAFPRS first identified this trend in 2016. As it became apparent that mask-wearing was here to stay, more and more patients are also asking for eyelid procedures to look less tired, as noted by 73 percent of surgeons (up 17 percent from 2020). 

The Year of Lifts & Lasers
Lip lifts, a new category for the 2021 survey, were performed by seven out of 10 doctors. This points to growing filler fatigue as patients veer away from the pillowy, overfilled ‘reality TV lips’ to options that are longer-lasting and more natural-looking. At least 70 percent of AAFPRS members performed lip lifts in 2021. In the procedure, the distance between the upper lip and nose is shortened, giving lips a fuller, more youthful appearance.

Demand for facelifts, neck lifts and brow lifts are also significantly up from previous years, further supporting the AAFPRS’ theory that more schedule flexibility, ability for downtime and masking, all likely have an influence on patient pandemic behaviors. 

The demand for laser treatments is also up over 10 percent from 2021 vs 2020, indicating that naturally healthy, clear and even-toned skin remains a patient priority, as the ways in which, and how often, we wear makeup has evolved. 

By the Numbers… Closing the Gender Gap
The millennial takeover continues. Patients age 56 or older represent a lower percentage of overall procedures in 2021, perhaps due to concerns about COVID-19. The most common surgical procedure among patients under age 34 is rhinoplasty, which remains consistent with previous years. 

Women continue to be the most likely patients for facial plastic surgery, but the industry is slowly becoming more balanced. Blepharoplasty and neurotoxins are trending towards more balance between genders, with a lower percentage of surgeons indicating these procedures are performed on “mostly females.” 

The top procedures performed most often on women in 2021 include neurotoxins (63 percent), fillers (57 percent), and rhinoplasty (62 percent). Hair transplantation is the only procedure for which men far surpass women, and is gaining popularity. In 2021, surgeons were almost five times more likely to indicate that hair transplantation was a top procedure for males, compared to 2020. The top procedures for male patients are rhinoplasty (79 percent), neurotoxins (58 percent) and blepharoplasty (42 percent). 

Trust Your Face to a Facial Plastic Surgeon
This year’s survey indicates that patients' number one concern is finding the right doctor they can trust (36 percent), followed by worries about an unnatural result (30 percent).

“Finding the right, most qualified, physician to perform any procedure should ALWAYS be a patient’s first priority,” says Steve Jurich, CEO and Executive Vice President of the AAFPRS. “Make sure the physician is qualified, experienced and board-certified in the procedure you want. When considering a facial plastic surgery procedure, the AAFPRS always recommends selecting a surgeon specifically trained in procedures of the face, head, and neck.”
 
Dr. Maas adds, “For most procedures, effective communication between surgeon and patient is the number one key to a successful outcome. This includes a mutually agreed-upon, reasonable expectation for improvement and what is realistically possible for individual patients and their goals.”

Research providers and treatment information via trusted online sources (www.facemd.org) before scheduling your consultations and having a facial plastic procedure.
 
The 2021 AAFPRS annual member survey was conducted in December 2021 by ACUPOLL Precision Research, Inc. through an online survey from a select group of the organization’s 2,200 members.
 
 

ABOUT THE AAFPRS: 
The American Academy of Facial Plastic and Reconstructive Surgery is the world’s largest specialty association for facial plastic surgery. It represents more than 2,200 facial plastic and reconstructive surgeons throughout the world. The AAFPRS is a National Medical Specialty Society of the American Medical Association (AMA), and holds an official seat in both the AMA House of Delegates and the American College of Surgeons board of governors. AAFPRS members are board certified surgeons whose focus is surgery of the face, head, and neck (inclusive of Rhinoplasty and Facial Rejuvenation). More information at www.facemd.org. 

Aquavit Pharmaceuticals, Inc. announced today that it has submitted its IND package (Investigation of New Drug) for a new botulinum toxin (DTX-021) to the FDA for approval.

DTX-021 is a botulinum toxin type A drug intended for the treatment of moderate to severe glabellar lines. DTX-021 is a highly purified and clinically tested injectable neuromodulator with a 900 kDa protein complex derived from neurotoxins produced by Clostridium botulinum.

Aquavit will be initiating a long term Phase-II clinical trial shortly after the approval of the IND. With the FDA's final approval, DTX-021 (to be marketed as Dermatox™) will enter the fast growing US $5.3 billion dollar market with a CAGR of 7.8%, reaching US $9 billion dollars by 2026. According to The Aesthetic Society and Global Market Insights, botulinum toxin has been the #1 non-surgical aesthetic procedure since 1999 and is still growing rapidly with only 4 companies with approved botulinum toxin in the US.

Aquavit is accelerating its clinical development program by introducing DTX-022 (to be marketed as Microtox™) shortly after DTX-021.  With final approval of DTX-022, it will be the first-of-its-kind, world's first FDA approved pan-facial microinjection of neurotoxins. DTX-022 features a novel route of administration (RoA) of DTX-021 utilizing Aquavit's innovative microchannel delivery system, a patented "repeated motion" technology.

For several years, Aquavit has been investing in its proprietary delivery technologies and related intellectual property for botulinum toxin.  Aquavit is currently evaluating all other potential therapeutic indications of botulinum toxins.

 "We are thrilled to present DTX-021 and DTX-022 programs at this year's AAD. With Aquavit's proven track record of developing and launching a global brand such as AQUAGOLD®, combined with our network of physicians and knowledge of botulinum toxins, we are poised to make a significant impact in the fast-growing multi-billion dollar neurotoxin market." said Sobin Chang, CEO of Aquavit. "We plan to introduce the most innovative botulinum toxin programs to uplift and modernize the treatment paradigm"

Aquavit will officially unveil the Dermatox™ and Microtox™ programs at the Annual American Academy of Dermatology, the world's largest dermatology conference scheduled from March 25-29, 2022, in Boston, MA.

 

Read more here.

 

Source:

PR Newswire

The American Academy of Cosmetic Surgery (AACS), the world’s largest multi-specialty home for physicians dedicated to cosmetic surgery and aesthetic medicine, successfully held its Annual Scientific Meeting on February 3-5, 2022, in Las Vegas, NV.  An optional full-day Facial Cosmet-ic Surgery Cadaver Course was offered on February 2.

To view photo highlights, visit: https://vimeo.com/675718217

As the profession’s most trusted resource for patient safety through cosmetic surgery education, the AACS presented an innovative and well-rounded program, titled, “Immerse in Perfection—Advances in Cosmetic Surgery.”  This live, in-person meeting featured an outstanding lineup of 28 dynamic sessions conducted by leading cosmetic surgeons and aesthetic medicine physicians,  which included keynote and instructional presentations, panel discussions geared for cosmetic sur-geons and allied health professionals, and social/networking events.

Highlights from this well-attended and well-received program include:

•    J. Kevin Duplechain, MD, FACS, FAACS was installed as President of the AACS and its affil-iate organization, the Cosmetic Surgery Foundation (CSF), the research and education arm of the AACS. Dr. Duplechain is an internationally recognized cosmetic surgeon who practices in Lafa-yette, Louisiana. He serves as an adjunct instructor for the Department of Otolaryngology, divi-sion of Facial Plastic Surgery at Tulane University in New Orleans. He has held numerous lead-ership positions in the AACS and CSF, as well as other major professional societies. Dr. Duple-chain has published many peer-reviewed articles and authored several chapters in textbooks. He is the co-founder and managing partner of Laser Skin Care of Louisiana.

Dr. Duplechain comments, “I am honored to preside over the AACS and CSF at this exciting time in our evolution as a global leader in advancing excellence and patient safety in cosmetic    surgery and aesthetic medicine through education, training, research and advocacy. We are grate-ful to outgoing AACS President Mark Mandell-Brown and outgoing CSF President Sheila Bar-barino for their superlative leadership and service.”     

•    Globally renowned physician C. William Hanke, MD, MPH, FACP delivered the prestigious Webster Lecture, which is presented annually in honor of noted plastic surgeon Richard C. Web-ster, MD, founder of the AACS. Dr. Hanke is Program Director for the Micrographic Surgery and Dermatologic Oncology (MSDO) Fellowship Training Program at Ascension St. Vincent Hospital in Indianapolis, IN, which he founded in 2004. He also founded the Mohs Surgery Fel-lowship Training Program at Indiana University School of Medicine, where he formerly held the nation’s first triple Professorship in Dermatology, Pathology and Laboratory Medicine, and Oto-laryngology-Head and Neck Surgery. Dr. Hanke has led many professional societies as Presi-dent, including the AACS; the American Academy of Dermatology (AAD); the American Socie-ty for Dermatologic Surgery (ASDS); the American College of Mohs Surgery (ACMS), and the International Society for Dermatologic Surgery (ISDS). He has received the highest award from each of these organizations: The Gold Medal (AAD), The Samuel J. Stegman,MD Award for Distinguished Service (ASDS), The Frederic E. Mohs,MD Award for Career Achievement (ACMS), and The President’s Gold Medal (ISDS). Dr. Hanke has made over 400 contributions to the medical literature, including 103 book chapters and 29 books. His fascinating Webster Lecture addressed the history of AACS, including notable past-presidents and members, and re-viewed the books of liposuction as well as the evolution of tumescent local anesthesia and its ap-plication to various conditions.

•    The AACS Women in Cosmetic Surgery Section (WiCS), a recently formed AACS section created to support the professional and personal development of female cosmetic surgeon members, held an insightful session moderated by WiCS Co-chairs Jane Petro, MD and Suzan Obagi, MD. Keynote Speaker Andrea Moreira, MD, Co-Director of the Microsurgery and Breast Re-construction Program in the Allegheny Health Network’s Division of Plastic Surgery, shared her personal journey as a plastic surgeon. Her riveting presentation was followed by small group discussions about “Owning Your Own Business” and “Work-Life Balance,” during which cos-metic surgeons shared their personal stories.

For cosmetic surgery professionals who could not attend the meeting live and in-person, record-ings of the Scientific Meeting can be purchased and will be available from February 22 - May 22, 2022.

For more information, visit: www.cosmeticsurgery.org.

About the American Academy of Cosmetic Surgery (AACS) 
The American Academy of Cosmetic Surgery (AACS) is committed to advancing the multi-specialty, global disciplines of cosmetic surgery and aesthetic medicine for the benefit of patients and practitioners. Since its inception in 1985, the AACS has become the leading educational pro-vider for cosmetic surgery practitioners from a diverse array of medical specialties, including der-matology, oral & maxillofacial surgery, otolaryngology, general surgery, ophthalmology, and plas-tic/reconstructive surgery. AACS is composed of over 1,600 members who pursue educational and training opportunities in cosmetic surgery to ensure consistently high quality patient care.

An advanced powerhouse booster formulated to target the signs of lines, wrinkles and loss of volume to reveal a visibly smoother, firmer, naturally fuller looking skin appearance.
 
Seven years of extensive scientific research, 45 million reviewed hexapeptides, skincare visionary Dr. Des Fernandes, Environ Founder and Scientific Director has pushed the boundaries of cosmetic science to unlock the solution to the skin’s full rejuvenating potential.
 
As we age, it is natural for the skin to lose fat in the dermis as well as hyaluronic acid. What many people need is to improve the cushion of fat in the skin and boost the hyaluronic acid status to make it look like the skin has been “re-inflated”. Environ’s R&D team aimed to develop a topical cosmetic formulation that can be used to improve the appearance of well-cushioned skin.

 
The 3DSynergé Filler Crème uses two dermal filler techniques to target the three dimensions of youth: the past, rejuvenated, the present, reborn and the future, beautifully resilient. Formulated with an Intelligent Hydro-Lipidic approach with powerhouse ingredients, the 3DSynergé Filler Crème optimizes results.
 
HYALURONIC ACID TECHNOLOGY:
Assists to replenish and promote the benefits of optimal levels of Hyaluronic Acid in the skin for a visibly smooth, plumped appearance.
 
SMART PEPTIDE TECHNOLOGY:
Assists to improve the appearance of volume and the structural integrity of skin for a firmer, naturally-fuller look.
 
POTENT ANTIOXIDANT PROTECTION:
Assists to revive and protect the effects of youthful properties of the skin with an advanced peptide and phyto-antioxidant key ingredients.

 

Source:

DermaConcepts/Environ Skin Care

Galderma, the world’s largest independent dermatology company, today announces the launch of ALASTIN Skincare® HA IMMERSE SERUM®. The newest product addition to the ALASTIN Skincare lineup is designed to immerse the skin with moisture at the surface, while helping to amplify the skin’s natural ability to create hyaluronic acid deep within for fuller, more youthful-looking skin over time.

HA IMMERSE SERUM® helps instantly boost skin hydration for smoother, more radiant looking skin. ALASTIN’s proprietary Octapeptide-45 helps the skin’s ability to naturally increase its own high molecular hyaluronic acid production deep within the skin for long term, skin plumping, anti-aging, and hydration benefits. The lightweight, fast-absorbing serum is formulated using only the purest form of hyaluronic acid (high molecular HA) that mimics the HA naturally found deep within your skin, providing moisture 24/7 from the inside out and outside in. HA IMMERSE SERUM layers seamlessly under makeup and other skincare and is recommended for daily use as well as complementing dermal fillers.

"The launch of HA IMMERSE Serum® is the next step in expanding our portfolio of daily skin care products and demonstrates our continued commitment to bring only truly innovative and category-progressing products to the market. Hyaluronic Acid is one of the most widely searched and requested skincare ingredients, and the result of our clinical trial indicates HA IMMERSE will be a game changer," said Amber Edwards, Chief Commercial Officer of ALASTIN. 

HA IMMERSE SERUM ($110) can be purchased from ALASTIN Skincare® aesthetic physicians’ offices. Visit www.alastin.com for more information and to find a physician retailer near you.

 

About Alastin Skincare®

Alastin Skincare® is a range of innovative, clinically tested skin care products that correct, protect and maintain healthy skin for a lifetime. These unparalleled Procedure Enhancement and Restore & Renew products are formulated with TriHex Technology®, a patented combination of key peptides and other synergistic ingredients using the latest technology and are clinically tested to demonstrate safety and their ability to help reawaken the skin’s youthful regenerating processes.

@AlastinSkincare #AlastinSkincare

 

About Galderma

Galderma is the world’s largest independent dermatology company, present in approximately 100 countries. Since our inception in 1981, we have been driven by a complete dedication to dermatology. We deliver an innovative, science-based portfolio of sophisticated brands and services across Aesthetics, Consumer Care and Prescription Medicine. Focused on the needs of consumers and patients, we work in partnership with healthcare professionals to ensure superior outcomes. Because we understand that the skin we’re in shapes our life stories, we are advancing dermatology for every skin story. For more information: www.galderma.com.

 

Read more here. 

 

Source:

Galderma

BTL, the authority in non-invasive body sculpting therapies, and professional basketball player, Andre Drummond, are excited to announce they have selected the five winners of their first-ever scholarship program – the BTL Scholar Draft.

The program awarded each of the five students a $15,000 grant towards tuition and college fees. The Scholar Draft was started to empower graduating high school and currently enrolled college student-athletes across the country to pursue higher education and strengthen their path to successful future careers. Entrants were asked to submit a 2-5 minute video sharing their aspirations and what confidence in their sport means to them, which was then reviewed by the BTL team and Andre Drummond himself. The program kicked off late last year on November 11 and officially closed the submission portal on Bold.org on February 1.

"The stories behind what fuels these young athletes' confidence and dedication were all so inspiring," said John Ferris, BTL Aesthetics Vice President of Marketing. "Through this grant, we hope the winners feel empowered and confident to move forward in their academic careers and truly invest in themselves – which is what BTL is truly all about at its core."

"It's really important to me that we continue to break down barriers and provide opportunities for kids who need them. This program is all about empowering student-athletes and giving them a chance for a better future," said Drummond.

The five lucky winners are based across the country, and each plays varying sports. The scholarship winners are Alaysia Oakes (Lynchburg, VA), Sydney Stapf (West Bloomfield, MI), Charity McDowell (Indianapolis, IN), Emaria Banks (Loganville, GA), and Terry Burrel III (Cypress, TX).

For more information on BTL Aesthetics and their various body sculpting therapies, please visit www.bodybybtl.com.

ABOUT BTL  

Founded in 1993, BTL has grown to become one of the world's major medical and aesthetic equipment manufacturers. With over 2,400 employees located in more than 65 countries, BTL has revolutionized the way to offer the most advanced non-invasive solutions for body shaping, skin tightening & other medical aesthetic treatments, including women's intimate health and wellness. BTL's brands include EMSCULPT NEO, EMSCULPT, EMFACE, EMSELLA, EMFEMME 360, EMTONE, and BTL Exilis ULTRA. Additional information can be found at www.bodybybtl.com.

 

Read more here.

 

Source:

PR Newswire

Revance Therapeutics, Inc. (Nasdaq: RVNC), a commercial stage biotechnology company focused on innovative aesthetic and therapeutic offerings, today provided preliminary fourth quarter and full year 2021 financial results and a corporate update.

Financial Update:

• Preliminary Unaudited Full Year 2021 RHA® Collection Revenue. Revance expects preliminary fourth quarter 2021 RHA® Collection unaudited revenue to be between $23.0 million and $24.0 million, resulting in full year 2021 unaudited RHA® Collection revenue of between $70.0 million and $71.0 million.
• Payment Processing Volume. The company expects its fourth quarter 2021 payment processing volume run-rate to be nearly $600 million.
• Aesthetic Accounts. The company concluded the fourth quarter of 2021 with over 3,000 aesthetic accounts across products and services.
• Preliminary Unaudited Full Year 2021 Operating Expenses. The company expects its full year 2021 unaudited generally accepted accounting principles (GAAP) and non-GAAP operating expenses to be on the low end of or below the previously announced guidance ranges of $375 million to $390 million and $270 million to $285 million, respectively.
• Cash Update. Preliminary unaudited cash, cash equivalents and short-term investments as of December 31, 2021 were approximately $225 million.

“2021 was a year of commercial execution for Revance and we were very pleased to end the fourth quarter having more than doubled our RHA® Collection revenue and fintech payment processing volume run-rates over the same period last year. Moreover, we ended the year with over 3,000 aesthetic accounts across the nation, serving as a strong commercial foundation for continued growth. These results were made possible by our targeted strategy, differentiated portfolio and outstanding team,” said Mark J. Foley, Chief Executive Officer of Revance.

Foley continued, “Also, we were encouraged by the FDA’s timely acceptance of our Type A meeting request and believe our meeting has informed our next steps for our BLA resubmission. We plan to provide an update on our regulatory pathway once we receive the formal meeting minutes from the FDA. Looking ahead, obtaining approval for DaxibotulinumtoxinA for Injection for the treatment of glabellar lines remains our top priority in 2022, in addition to increasing our revenue and deepening our customer relationships, all while preserving our cash to maximize our financial flexibility. We remain encouraged by the ongoing growth of the neuromodulator market, despite the pandemic, and continue to believe that our long-acting neuromodulator, once approved, paired with our leading dermal fillers and relational commerce platform, will provide us with a significant opportunity for differentiation in the market.”

Corporate Update

Type A Meeting with U.S. Food and Drug Administration (FDA) for DaxibotulinumtoxinA for Injection. Revance recently held a Type A meeting with the FDA to gain clarity and alignment on the requirements for approval for its biologics license application (BLA) for DaxibotulinumtoxinA for Injection for the treatment of glabellar lines. The company plans to provide an update on its regulatory pathway once it receives the meeting minutes.

 

Read more here.

 

Source:

Businesswire

Did you know that currently in the UK, you don't legally need a license to perform procedures such as Botox or filler injections? In fact, there is no official industry regulation or qualification standard for non-surgical cosmetic procedures – an issue that many respected practitioners have campaigned against for some time.

But finally, the UK government is taking steps to regulate the aesthetics industry, announcing an amendment to the Health and Care Bill which intends to introduce a licence for non-surgical cosmetic procedures, such as Botox and fillers.

It comes after the recent introduction of other new laws surrounding non-surgical cosmetic procedures, which saw it become illegal to administer such treatments to under 18 year-olds and banning all adverts on the matter which target under 18s. 

Health and social care secretary Sajid Javid said that the legislation will make it "an offence for someone to perform these cosmetic procedures without a licence," adding: "While most of those in the aesthetics industry follow good practice when it comes to patient safety, far too many people have been left emotionally and physically scarred after botched cosmetic procedures."

"We’re doing all we can to protect patients from potential harm, but I urge anyone considering a cosmetic procedure to take the time to think about the impact on both their physical and mental health and ensure they are using a reputable, safe and qualified practitioner."

According to the government, the new licensing will also introduce consistent standards that practitioners carrying out non-surgical cosmetic procedures will have to meet, as well as hygiene and safety standards for premises. 

Advanced facial aesthetics doctor Dr Ahmed El Muntasar, known as @theaestheticsdoctor on Instagram, welcomes the news. He told GLAMOUR: "I think this will be amazing for patient safety and protecting vulnerable patients from rogue injectors – and people that have not got the medical training to be able to inject – but more importantly it's about dealing with the complications and this is where medical training comes in.

 

Read more here.

 

Source:

Glamour Magazine

Prices paid to anesthesia practitioners increased after hospital outpatient departments and ambulatory surgery centers contracted with a physician management company (PMC), and were substantially higher if the PMC received private equity (PE) investment, according to a study by researchers at Columbia University Mailman School of Public Health and Cornell Weill Medical College. Until now, little was known about the influence of a physician management company on prices. The findings are published in JAMA Internal Medicine.

“Physician management companies, many of which are backed by PE firms, have grown increasingly common in anesthesia. These companies manage the back-end administration of medical practices, including insurance contracting and billing, and also provide staffing and management services to health care facilities. The aim of our research was to study changes in prices paid to anesthesiologists and certified registered nurse anesthetists after a facility contracted with a PMC,” said Ambar La Forgia, PhD, assistant professor of health policy and management at Columbia Mailman School. “The paper considers the implications of corporate ownership in anesthesia for patients, practitioners, and payers, and helps to inform the current policy debate around the corporate practice of medicine.”

The authors constructed a novel dataset identifying PMC contracts with hospital outpatient departments and ambulatory surgery centers from 2012 to 2017 and combined it with commercial claims data from three large national insurers in the Health Care Cost Institute database. Based on a sample of 2,255,933 privately insured patients who received anesthesia services, the study found that allowed amounts paid to anesthesia practitioners increased by 16.5 percent or by $116.39 more in facilities that contracted with a PMC versus non-PMC facilities. Similarly, the unit price (allowed amounts standardized by procedure complexity and duration) increased by 19 percent or by $18.79 when facilities contracted with a PMC, suggesting that the price increases were not driven by changes in the types of procedures.

The study identified 22 PMCs as having provided anesthesia staffing and management services during the sample period. Half of these PMCs received funding from a PE firm. In further analyses, the authors found that PE-backed PMCs increased allowed amounts by 26 percent while PMCs without PE funding only increased allowed amounts by 13 percent.

“One way PMCs may command higher prices is by amassing market share and by developing better negotiating expertise,” noted La Forgia. “PE-backed PMCs may also have had stronger incentives to create short-term returns for investors relative to those without PE investments.” 

 

Read more here.

 

Source:

Columbia