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Ext. PublicationSuccess Story: Driving Physician Alignment Through ASC Partnerships
Health Care Valuation Services
Health Care Valuation Services
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The Client
The client, a large not-for-profit regional health system in the Southeast, serves a broad patient base through multiple hospitals and outpatient facilities. As a mission-driven organization, the system prioritizes accessible, high-quality surgical care and strong physician relationships across its market. Its leadership recognized that sustaining this commitment required modern outpatient capabilities and a structure that supports long-term physician alignment.
The Challenge
The health system faced mounting pressure from two converging issues: an aging satellite hospital with an underperforming outpatient surgical department and growing physician dissatisfaction. Rumors that several surgeons were exploring development of a competing ambulatory surgery center (ASC) heightened concerns.
Leadership feared losing surgical volume, physician loyalty and market share. Limited financial reporting added difficulty, and administrators needed clarity on potential assets, case mix and the implications of shifting surgical volume. The organization wanted a path that would preserve relationships, protect patient access and strengthen its competitive position.
The Process
Weaver’s health care valuation team guided the client through a structured and comprehensive evaluation of the proposed joint venture (JV) ASC. Our process included:
- Reviewing the JV model: Assessed planned contributions from the health system, physicians and the national ASC operator, along with the operational design of the new center
- Conducting fair market value (FMV) analyses across key components: Examined the hospital’s noncash intangible contributions, JV value at the control level for system and operator buy-in, JV value at the minority level for physician investment and hospital fixed assets transitioning to the ASC
- Evaluating facility and management arrangements: Determined FMV for the leased facility space and management fees paid to the ASC operator to ensure regulatory alignment
- Coordinating equipment planning: Facilitated detailed equipment reviews to balance reuse and new purchases, refining cost and operational assumptions
- Managing project integration: Directed interconnected work streams, clarified data gaps due to limited outpatient reporting and supported analysis of surgical cases transitioning to the ASC
The Deliverables
Weaver delivered a suite of well-supported FMV analyses that gave the health system and participating physicians confidence in the JV’s structure and economics. Our valuation reports covered intangible contributions, ownership interests at both control and minority levels, fixed-asset transfers, facility lease terms and management fees, each designed to support compliant and equitable arrangements.
These deliverables provided leadership with timely, decision-ready information, helping streamline planning and strengthen alignment among stakeholders. With clear valuations and a cohesive process in place, the health system successfully advanced the ASC development, secured physician engagement and positioned itself for long-term market retention and growth.
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