Acquisitions of physician practices continue to grow. At the present time, nearly 25 percent of all hospital-based physicians are employed by the hospitals at which they practice, compared to 5 percent in 2000.1 And though exact data on anesthesiologists are lacking, this trend is impacting our specialty as well. Multiple factors appear to be driving this change. Hospital systems are seeking to protect market share, ensure a reliable supply of anesthesiologists and control processes during episodes of care. In addition, hospital leaders recognize that closer relationships with their anesthesiologists are important as reimbursement increasingly is linked to resource management, patient satisfaction and quality-improvement activities. Anesthesiologists in turn are aligning with hospitals due to increasing consolidation among providers, uncertainty about health care reform and declining payments.
The decision to sell an anesthesiology practice presents a number of challenges. First is the need to place a financial value upon the anesthesiology...
