AmSurg is among the largest surgery center management companies in the U.S., with more ASCs than both United Surgical Partners International and Surgical Care Affiliates. It is the ambulatory unit of Envision Healthcare.
Here are 10 things to know.
1. Envision and AmSurg merged in December 2016, creating a healthcare services company that was valued at $10 billion. As of Dec. 31, 2017, Envision owns and operates 264 surgery centers and one surgical hospital catering to a variety of specialties, including gastroenterology, ophthalmology and orthopedics.
2. Envision shares hit a 52-week low of $26.34 in November 2017 and missed Zacks Equity Research's quarterly estimates by 16.1 percent. Envision struggled after the AmSurg merger, seeing its shares drop 60 percent in the time leading up to the 52-week low.
3. UnitedHealth, which acquired Surgical Care Affiliates in 2017, reportedly submitted a bid earlier this year to acquire AmSurg. UnitedHealth is said to have pulled out of talks after Envision filed a lawsuit alleging the insurer decreased payments to Envision physicians and wouldn't add Envision physicians to its network post merger.
4. A class action lawsuit filed against Envision in February alleges the company illegally billed and collected payments from patients who received emergency medical services from out-of-network providers at in-network facilities. Axios suggested the lawsuit against UnitedHealth is an attempt to frame its alleged balance-billing practices as a result of United's refusal to add Envision physicians to its network.
5. Envision reported $132.6 million in net income for the fourth quarter of 2017, and its ambulatory services segment generated $1.41 million in average revenue per consolidated center. Net revenues for Envision's ambulatory services reached $333.1 million, a $6.4 million increase from the fourth quarter of 2016. Same-center revenue for ambulatory services is expected to grow 1 to 2 percent in 2018.
6. Chris Holden now serves as president and CEO of Envision after leading AmSurg as president, CEO and director from 2007 to 2016. He was previously senior vice president and a division president of Plato, Texas-based Triad Hospitals, which he helped found. In 2016, he received $21.7 million in compensation, the New York Times reported. William Sanger is Envision's chairman.
7. AmSurg has undergone major acquisitions and mergers in the physician practice area to reduce its reliance on ASCs, but it remains a major surgery center operator.
8. Sheridan Healthcare is AmSurg's physician services unit. It provides out-of-hospital physician services in areas including primary care, pediatrics, obstetrics, orthopedics and gynecologic oncology.
9. In response to national reports on patient tragedies that painted a negative picture of the ASC landscape, AmSurg issued a statement emphasizing its commitment to quality:
"At AmSurg, we partner with our physicians and employees to deliver the highest standards of care and quality. AmSurg centers are Medicare approved and undergo voluntary accreditation by the Accreditation Association for Ambulatory Health Care or The Joint Commission. In addition, our centers voluntarily comply with the [Outpatient and Ambulatory Surgery Consumer Assessment of Healthcare Providers and Systems] survey process. Each center’s governing board and medical staff review quality information every quarter to ensure a culture focused on safety, quality, and the patient experience. We pride ourselves in providing every patient with personalized care."
10. AmSurg celebrated its 25th anniversary in April 2017. Its physicians have performed more than 12 million procedures over the past 10 years.