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Filed Pursuant to Rule 424(b)(3)
Registration No. 333-50813
AMSURG CORP.
SUPPLEMENT TO PROSPECTUS
DATED JUNE 12, 1998
On June 12, 1998, the Health Care Financing Administration ("HCFA")
published a proposed rule that would update the ratesetting methodology, payment
rates, payment policies and the list of covered surgical procedures for
ambulatory surgery centers. The proposed rule is subject to a 60-day comment
period that expires August 11, 1998, and contains a proposed effective date of
October 1, 1998. The proposed rule reduces the rates paid for certain ambulatory
surgery center procedures reimbursed by Medicare, including a number of
endoscopy and ophthalmological procedures performed at the Company's centers.
The Company believes that the proposed rule, if adopted in its current form
with an effective date of October 1, 1998, would adversely affect the Company's
revenues and expects that the Company's revenues in fiscal 1998 would be reduced
by approximately 1% and revenues in fiscal 1999 would be reduced by
approximately 4%. The Company expects to offset the earnings impact of the rule
by taking a number of specific actions, including actions to effect certain cost
efficiencies in center operations and reduce corporate overhead costs. There can
be no assurance that the Company will be able to implement successfully these
actions or that if implemented the actions will offset fully the adverse impact
of the rule as finally adopted on the earnings of the Company. There also can be
no assurance that HCFA will not modify the proposed rule, before it is enacted
in final form, in a manner that would adversely impact the Company's financial
condition, results of operation and business prospects.
This Supplement 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. The Company's actual operations and results may differ materially
from the results discussed in the forward-looking statements. The Company
undertakes no obligation to update or revise any such forward-looking
statements.
The date of this Supplement is June 15, 1998.
