As the healthcare market continues its shift toward greater physician practice consolidation, a subtrend has also emerged of ancillary services being bought and sold under a variety of configurations. One such agreement, a so-called "carve-out," sells the ancillary business, leaving the remainder of the practice independent and free-standing. As with any healthcare valuation, the appraisal of ancillary services for carve-out purposes are fraught with peril, including considerations of Stark and AKS compliance, standards of value, and limited or overlapping financial information. In Part 5 of BVR's Online Symposium on Healthcare Valuation, expert Jason Ruchaber examines how this important and challenging piece of healthcare appraisal can be effectively performed. Join him to learn how to best determine a defensible conclusion of value while navigating the minefield of regulatory and operational challenges these businesses pose.