Randy

The FTC just notched its second win against the biggest roll-up in anesthesia history. Welsh Carson settled first. Now USAP. So who actually won, and who pays next? Joe Rodriguez sits down with Randy Moore and Gary Keeling for the kind of conversation that usually happens at the bar after the conference, not on the record. No "where did you go to school" warm-ups. Just three operators reading the headlines everyone else is misreading. Gary drops the frame that defines the episode: this is two Goliaths at war. Private equity built 70 percent market share with borrowed money. Insurers answered with the No Surprises Act and rate cuts. Now IDR is swinging back, hospitals are eating the shortfall through subsidies, and the FTC just stepped into the ring. Anesthesia providers are standing in the middle of all of it. Then the gloves come off on the anesthesiologist assistant fight. Sixty bills in thirty years. Gary says there's enough work for everybody and braces for the hate mail.…