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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 American Anesthesiology (a subsidiary of MEDNAX), Sheridan Healthcare (part of AmSurg), and North American Partners in Anesthesia.
Top concerns for physicians worldwide include rising costs of care and inadequate medical resources in developing nations. The global burden of disease includes a range of conditions requiring surgery. Patient survival in obstetric and trauma procedures is connected to the availability of surgical health professionals, including anesthesiologists.
About 52,000 physicians practice anesthesiology in the US, according to the American Society of Anesthesiologists. The industry generates some $19 billion in revenue, according to Envision Healthcare. 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.
Demand for anesthesiology services is driven 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. Anesthesiologists generally have several direct competitors in the immediate geographic area.
PRODUCTS, OPERATIONS & TECHNOLOGY
During surgery, anesthesiologists administer anesthesia to relieve pain and control the ...
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