8-K

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 13, 2002 (December 13, 2002)

AMSURG CORP.

(Exact Name of Registrant as Specified in its Charter)

Tennessee	000-22217	62-1493316
(State or other jurisdiction of	(Commission	(I.R.S. employer
incorporation or organization)	File Number)	identification no.)

20 Burton Hills Boulevard
Nashville, Tennessee	37215
(Address of principal executive offices)	(Zip code)

(615) 665-1283
(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former name or former address, if changed since last report)

TABLE OF CONTENTS

PRESS RELEASE

Item 7. Financial Statements and Exhibits

     (c)  Exhibits:

99 Press release dated December 13, 2002.

Item 9. Regulation FD Disclosure

     A press release issued by AmSurg Corp. on December 13, 2002 is attached hereto as Exhibit 99.

2

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

AMSURG CORP.
By:	/s/ Claire M. Gulmi Claire M. Gulmi
	Senior Vice President and Chief Financial Officer (Principal Financial and Duly Authorized Officer)

Date: December 13, 2002

3

INDEX TO EXHIBITS

Exhibit
Number	Description
99	Press release dated December 13, 2002

4 EX-99 3 g79792exv99.txt PRESS RELEASE EXHIBIT 99 FOR IMMEDIATE RELEASE Contact: Claire M. Gulmi Senior Vice President and Chief Financial Officer (615) 665-1283 AMSURG ADDRESSES RECOMMENDATIONS BY STAFF OF MEDPAC ON ASC REIMBURSEMENT NASHVILLE, Tenn. (December 13, 2002) - Ken P. McDonald, President and Chief Executive Officer of AmSurg Corp. (Nasdaq: AMSG), today addressed a staff proposal presented yesterday to the Commissioners of MedPAC (Medicare Payment Advisory Commission), which advises Congress on Medicare payment and policy issues. In March 2003, MedPAC is expected to present its annual report to Congress regarding Medicare payment policy. The MedPAC Commissioners will vote on recommendations to include in the March report in January 2003. It is uncertain if the Commissioners will include any of the staff's proposals regarding ambulatory surgery centers in its March 2003 report to Congress. Even if the Commissioners include these proposals as recommendations in the March report, it is uncertain if Congress will act on such recommendations. Finally, it is uncertain how Congress would translate such recommendations into legislative language. The staff's presentation included (1) a recommendation for no CPI increase in 2004 for ASCs and (2) a recommendation that the reimbursement for procedures performed in ASCs be no higher than the reimbursement rate for the same procedures performed in hospital outpatient departments. Mr. McDonald said, "While it is far from certain that the staff's recommendation will ever be enacted, we believe it would not affect AmSurg's long-term growth rate objectives. The absence of a 2004 CPI increase would be only marginally less than the CPI minus 2% increase in Medicare payments experienced by ambulatory surgery centers over the past five years." Regarding the limitation of ASC reimbursement to the rates currently paid to hospitals for the same procedures, there are three types of procedures that are performed by AmSurg that could be impacted by implementation of the recommendation. Those three procedures are after-cataract laser procedures, colonoscopies and upper GI endoscopies with biopsy. AmSurg's revenue attributable to each of these procedure types and the percentage of these revenues paid by Medicare are as follows:

Percent of Percent AmSurg 2002 Paid by Revenues Medicare -------- -------- After-cataract laser Procedures 3% 59% Colonoscopy 41% 30% Upper GI endoscopy 13% 30%

"Still recognizing the uncertainties involved regarding the possibility of Congressional enactment of the staff's recommendation," Mr. McDonald continued, "if implementation of these recommendations did occur without a phase in over time, based on our current procedure mix, and using the HOPD and ASC rates detailed in the October 2002 MedPAC meeting, it would -MORE- AMSG Addresses MedPAC Staff Recommendations Page 2 December 13, 2002 adversely affect AmSurg's revenues by approximately 2% and it would adversely affect earnings per diluted share by approximately $0.10, or 7% to 8% of our projected 2003 earnings, after which we would expect to return to our established long-term objectives for growth in same-center revenues of 7% to 9% and earnings per diluted share of 22% to 25%. While fiscal 2003 has been used as the basis for our analysis, no dates have been referenced or indicated for implementation of the recommendations. The information contained in the preceding paragraph is forward-looking information, and the attainment of these targets is dependent not only on AmSurg's achievement of its assumptions discussed above, but also on the risks and uncertainties listed below that could cause actual results, performance or developments to differ materially from those expressed or implied by this forward-looking information. "We believe that the underlying business of AmSurg remains strong. The key fundamentals of AmSurg growth, same center procedure growth and the addition of new centers, will continue to produce strong results for our company. We believe that the MedPAC staff recommendations, if acted upon, would not have a material impact on our ability to achieve our projected future growth." This press release contains forward-looking statements. These statements, which have been included in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, involve risks and uncertainties. Investors are hereby cautioned that these statements may be affected by the important factors, among others, set forth in AmSurg's filings with the Securities and Exchange Commission, and, consequently, actual operations and results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, the Company's ability to enter into partnership or operating agreements for new practice-based ambulatory surgery centers; its ability to identify suitable acquisition candidates and negotiate and close acquisition transactions, including centers under letter of intent; its ability to obtain the necessary financing or capital on terms satisfactory to the Company to execute its expansion strategy; its ability to generate and manage growth; its ability to contract with managed care payers on terms satisfactory to the Company for its existing centers and its centers that are currently under development; its ability to obtain and retain appropriate licensing approvals for its existing centers and centers currently under development; its ability to minimize start-up losses of its development centers; its ability to maintain favorable relations with its physician partners; changes in the rate setting methodology, payment rates, payment policies and the list of covered surgical procedures for ambulatory surgery centers by the Centers for Medicare and Medicaid Services; risks associated with the Company's status as a general partner of limited partnerships; our ability to maintain our technological capabilities in compliance with regulatory requirements; risks associated with the valuation and tax deductibility of goodwill, as well as potential losses on disposal for goodwill associated with a disposition of a center; the risk of legislative or regulatory changes that would prohibit physician ownership in ambulatory surgery centers; and our ability to obtain the necessary financing to fund the purchase of our physician partners' minority interest in the event of a regulatory change that would require such a purchase. AmSurg disclaims any intent or obligation to update these forward-looking statements. AMSG Addresses MedPAC Staff Recommendations Page 3 December 13, 2002 AmSurg Corp. develops, acquires and manages physician practice-based ambulatory surgery centers in partnership with surgical and other group practices. At September 30, 2002, AmSurg owned a majority interest in 101 centers and had seven centers under development. -END- -----END PRIVACY-ENHANCED MESSAGE-----

EX-99

                                                                      EXHIBIT 99




FOR IMMEDIATE RELEASE                       Contact: Claire M. Gulmi
                                                     Senior Vice President and
                                                     Chief Financial Officer
                                                     (615) 665-1283



               AMSURG ADDRESSES RECOMMENDATIONS BY STAFF OF MEDPAC
                              ON ASC REIMBURSEMENT

NASHVILLE, Tenn. (December 13, 2002) - Ken P. McDonald, President and Chief
Executive Officer of AmSurg Corp. (Nasdaq: AMSG), today addressed a staff
proposal presented yesterday to the Commissioners of MedPAC (Medicare Payment
Advisory Commission), which advises Congress on Medicare payment and policy
issues. In March 2003, MedPAC is expected to present its annual report to
Congress regarding Medicare payment policy. The MedPAC Commissioners will vote
on recommendations to include in the March report in January 2003. It is
uncertain if the Commissioners will include any of the staff's proposals
regarding ambulatory surgery centers in its March 2003 report to Congress. Even
if the Commissioners include these proposals as recommendations in the March
report, it is uncertain if Congress will act on such recommendations. Finally,
it is uncertain how Congress would translate such recommendations into
legislative language.

         The staff's presentation included (1) a recommendation for no CPI
increase in 2004 for ASCs and (2) a recommendation that the reimbursement for
procedures performed in ASCs be no higher than the reimbursement rate for the
same procedures performed in hospital outpatient departments.

         Mr. McDonald said, "While it is far from certain that the staff's
recommendation will ever be enacted, we believe it would not affect AmSurg's
long-term growth rate objectives. The absence of a 2004 CPI increase would be
only marginally less than the CPI minus 2% increase in Medicare payments
experienced by ambulatory surgery centers over the past five years."

         Regarding the limitation of ASC reimbursement to the rates currently
paid to hospitals for the same procedures, there are three types of procedures
that are performed by AmSurg that could be impacted by implementation of the
recommendation. Those three procedures are after-cataract laser procedures,
colonoscopies and upper GI endoscopies with biopsy. AmSurg's revenue
attributable to each of these procedure types and the percentage of these
revenues paid by Medicare are as follows:



                                               Percent of         Percent
                                              AmSurg 2002         Paid by
                                                Revenues          Medicare
                                                --------          --------
                                                            
After-cataract laser Procedures                     3%              59%
Colonoscopy                                        41%              30%
Upper GI endoscopy                                 13%              30%



         "Still recognizing the uncertainties involved regarding the possibility
of Congressional enactment of the staff's recommendation," Mr. McDonald
continued, "if implementation of these recommendations did occur without a phase
in over time, based on our current procedure mix, and using the HOPD and ASC
rates detailed in the October 2002 MedPAC meeting, it would




                                     -MORE-

AMSG Addresses MedPAC Staff Recommendations
Page 2
December 13, 2002



adversely affect AmSurg's revenues by approximately 2% and it would adversely
affect earnings per diluted share by approximately $0.10, or 7% to 8% of our
projected 2003 earnings, after which we would expect to return to our
established long-term objectives for growth in same-center revenues of 7% to 9%
and earnings per diluted share of 22% to 25%. While fiscal 2003 has been used as
the basis for our analysis, no dates have been referenced or indicated for
implementation of the recommendations.

         The information contained in the preceding paragraph is forward-looking
information, and the attainment of these targets is dependent not only on
AmSurg's achievement of its assumptions discussed above, but also on the risks
and uncertainties listed below that could cause actual results, performance or
developments to differ materially from those expressed or implied by this
forward-looking information.

         "We believe that the underlying business of AmSurg remains strong. The
key fundamentals of AmSurg growth, same center procedure growth and the addition
of new centers, will continue to produce strong results for our company. We
believe that the MedPAC staff recommendations, if acted upon, would not have a
material impact on our ability to achieve our projected future growth."

         This press release contains forward-looking statements. These
statements, which have been included in reliance on the "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995, involve risks and
uncertainties. Investors are hereby cautioned that these statements may be
affected by the important factors, among others, set forth in AmSurg's filings
with the Securities and Exchange Commission, and, consequently, actual
operations and results may differ materially from the results discussed in the
forward-looking statements. Factors that might cause such a difference include,
but are not limited to, the Company's ability to enter into partnership or
operating agreements for new practice-based ambulatory surgery centers; its
ability to identify suitable acquisition candidates and negotiate and close
acquisition transactions, including centers under letter of intent; its ability
to obtain the necessary financing or capital on terms satisfactory to the
Company to execute its expansion strategy; its ability to generate and manage
growth; its ability to contract with managed care payers on terms satisfactory
to the Company for its existing centers and its centers that are currently under
development; its ability to obtain and retain appropriate licensing approvals
for its existing centers and centers currently under development; its ability to
minimize start-up losses of its development centers; its ability to maintain
favorable relations with its physician partners; changes in the rate setting
methodology, payment rates, payment policies and the list of covered surgical
procedures for ambulatory surgery centers by the Centers for Medicare and
Medicaid Services; risks associated with the Company's status as a general
partner of limited partnerships; our ability to maintain our technological
capabilities in compliance with regulatory requirements; risks associated with
the valuation and tax deductibility of goodwill, as well as potential losses on
disposal for goodwill associated with a disposition of a center; the risk of
legislative or regulatory changes that would prohibit physician ownership in
ambulatory surgery centers; and our ability to obtain the necessary financing to
fund the purchase of our physician partners' minority interest in the event of a
regulatory change that would require such a purchase. AmSurg disclaims any
intent or obligation to update these forward-looking statements.




AMSG Addresses MedPAC Staff Recommendations
Page 3
December 13, 2002




         AmSurg Corp. develops, acquires and manages physician practice-based
ambulatory surgery centers in partnership with surgical and other group
practices. At September 30, 2002, AmSurg owned a majority interest in 101
centers and had seven centers under development.






                                      -END-