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The exclusion criteria were hip dysplasia, advanced hip osteoarthritis (T\u00d6nnis grade &gt;1), or unreconcilable documenting errors. Value was calculated by dividing 2\u2010year postoperative International Hip Outcome Tool 33 scores by time\u2010driven activity\u2010based costs. To protect the confidentiality of internal hospital cost data, the study average for value was normalized to 100. Multivariable linear mixed\u2010effects models were used to identify factors underlying variation in value.<\/jats:p>\n                  <\/jats:sec>\n                  <jats:sec>\n                    <jats:title>Results<\/jats:title>\n                    <jats:p>\n                      This study included 161 patients. There were 76 women (47.2%) and 85 men, with a mean age of 36.0 years (standard deviation [SD], 10.9 years) and mean body mass index (BMI) of 25.8 (SD, 4.3). Most patients were white (92.5%), were not Hispanic (93.8%), and were commercially insured (92.5%). Preoperatively, 57.1% of hips were classified as T\u00f6nnis grade 1 (57.1%) whereas the remainder were grade 0. The normalized value of hip arthroscopy ranged from 25.4 to 216.4 (mean \u00b1 SD, 100 \u00b1 38.4), with a 3.0\u2010fold variation between patients in the 10th and 90th percentiles. Higher value was significantly associated with T\u00f6nnis grade 0 (12.2\u2010point increase,\n                      <jats:italic>P<\/jats:italic>\n                      \u00a0= .025), no prior contralateral hip arthroscopy (17.3\u2010point increase,\n                      <jats:italic>P<\/jats:italic>\n                      \u00a0= .039), higher preoperative PROMs (0.52\u2010point increase per 1\u2010unit increase,\n                      <jats:italic>P<\/jats:italic>\n                      &lt; .001), and no bone marrow aspirate concentrate or microfracture (33.8\u2010point increase,\n                      <jats:italic>P<\/jats:italic>\n                      &lt; .001). Value was also significantly associated with osteoplasty type and labral treatment technique (\n                      <jats:italic>P<\/jats:italic>\n                      &lt; .05 for both). In contrast, operative year, age, sex, BMI, race, ethnicity, Outerbridge grade, and American Society of Anesthesiologists score were not independently associated with value. A model incorporating these factors as fixed effects and the surgery center as a random effect explained 42.3% of the observed variation in value. Sensitivity analyses revealed that value drivers may vary slightly across PROMs.\n                    <\/jats:p>\n                  <\/jats:sec>\n                  <jats:sec>\n                    <jats:title>Conclusions<\/jats:title>\n                    <jats:p>This study revealed wide variation in the value of hip arthroscopy that was most strongly explained by osteoplasty type, labral management technique, and preoperative PROMs. In contrast, patient demographic characteristics such as age, sex, and BMI contributed minimal independent variability.<\/jats:p>\n                  <\/jats:sec>\n                  <jats:sec>\n                    <jats:title>Level of Evidence<\/jats:title>\n                    <jats:p>Level IV, economic and decision analysis.<\/jats:p>\n                  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