Over the past decade or more, ambulatory surgery centers (ASCs) have featured prominently in major trends within the healthcare industry. With both for- and not-for-profit hospital systems engaged in joint ventures with ASCs and acquiring practices of physicians who staff ASCs, this segment represents both tremendous opportunity for business appraisers and significant risks and challenges associated with compliance, fraud, and regulatory statutes. In Part 3 of BVR’s 2014 Online Symposium on Healthcare Valuation, two veterans of numerous ASC assignments, Todd Sorensen and Kevin McDonough, lead attendees through what everyone should know when working in this segment of the healthcare field.