About Katy Baum

Sara "Katy" Baum leverages her prior in-house experience to counsel health care providers, health systems, academic medical centers, managed care entities and other members of the health care industry on complex private equity transactions and compliance matters. Whether performing due diligence, conducting research, drafting documents or providing legal guidance, Katy is resourceful, efficient and thorough to achieve the best results for her clients.

Organized and tenacious, driving practical solutions

Prior to joining Katten, Katy spent two years in-house as a Legal Fellow at a Chicago-based, U.S. News' top-ranked academic medical center and health system where she learned how to provide practical solutions that align with strategic objectives, while navigating complex risk during unprecedented circumstances. Since joining Katten, Katy has provided legal support to a variety of health care industry players conducting complicated private equity transactions, including private equity funds, physician groups, and health systems, through robust due diligence review, in-depth research, and regulatory and compliance guidance. In addition, Katy advises a variety of health care provider clients on matters involving the Stark Law, the Anti-Kickback Statute and the Health Insurance Portability and Accountability Act of 1996 (HIPAA), and other regulatory and corporate matters such as billing compliance, the corporate practice of medicine, clinical trial management, and licensing.

Katy has served in a variety of leadership and educational roles in both the national and Illinois community. During her Fellowship, Katy served as an adjunct instructor to the academic health center’s Health System Management program where she co-taught a health care law and ethics course to aspiring health care administrators. Katy is committed to supporting the greater legal and health care community to facilitate knowledge and growth in the legal profession and health care industry.

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Representative Experience

  • Assisted private equity-backed national provider of anesthesia services in its acquisition of multiple anesthesia providers.
  • Assisted private equity-backed national provider of gastroenterology services in its acquisition of multiple gastroenterology providers.
  • Guided multiple physician groups in a variety of specialties in the sale of the practices to private equity-backed national providers.
  • Advised managed care entities through complex contracting and other regulatory issues.
  • Advised various health care entities, providers, and health systems through unique regulatory issues, including laws, rules, and regulations governing provider and entity licensing, physician advertising, fraud and abuse, and billing compliance.
  • Perform due diligence of physician employment agreements and physician compensation models for various types of providers, including private equity-backed providers.
  • Represented health system in government advocacy efforts.