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A surgeon who doesn't perform procedures at an ASC but still receives a portion of the profits can frustrate the other physician-partners and block the sale of a controlling interest to a management company or health system. Your operating agreement should set forth the triggering events, buy-back price and buy-back mechanism for a physician-partner's interest. Such redemption events as death or disability are rarely controversial. But here's a review of 2 buy-back events that may strain an ASC's desire for compliance with the federal anti-kickback statute and a redeemed (and disgruntled) partner's potential state law claims.
