Lexology September 2, 2025
Executive Summary
As value-based care reshapes the U.S. healthcare landscape, primary care physician (PCP) practices are increasingly assuming financial risk for patient outcomes. This shift presents both opportunities and challenges for investors. Robust financial due diligence is essential — not only to assess historical performance but also to evaluate sustainability under complex reimbursement models. This article outlines key diligence steps, recent market dynamics, and Ankura’s experience supporting successful transactions in the risk-based PCP sector.
Introduction
As the U.S. healthcare system continues its transition from fee-for-service to value-based care, PCP practices are increasingly taking on financial risk tied to patient outcomes. This shift presents both compelling opportunities and significant challenges for investors and stakeholders. Financial due diligence in this space now...
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