Strategic Selection And Pricing Power: Optum’s Acquisitions Of Ambulatory Surgery Centers And Physician Practices Derek T. Lake, Lawrence P. Casalino, Michael R. Richards, Sean Nicholson, Rahul Fernandez, Manyao Zhang, and Robert Tyler Braun

https://www.healthaffairs.org/doi/abs/10.1377/hlthaff.2025.01062?utm_campaign=february+2026+issue&utm_medium=email&_hsenc=p2ANqtz-8IvMrkePqTApXLo4LAK-DxfFuHmrwqzJO0iQ5N84sXR0JvSlJ3eOLnXqTKG27nCoawTQ5isvuGwMjdNMNv10517gAf5g&_hsmi=406122480&utm_source=well+read&journalCode=hlthaff The study finds that Optum’s physician‑practice acquisitions reflected strategic selection of groups already using ambulatory surgery centers, while its ASC acquisitions were associated with notable price increases, raising concerns about competition and costs.