It's smart business to provide investment opportunities in your ASC to surgeons who help it profit. You might also be inclined to offer larger equity positions to the physician-investors who most use, or will most use, the ORs. But varying the percentages of ownership among physician-investors is risky under both federal and state anti-kickback laws, which strongly disfavor equity offers that correlate with previous or expected referral patterns. Two recent examples:
