A method of performing arthroplasty includes preparing a head of a long bone to receive a prosthesis using a reamer. The reamer includes a first cutting structure having an inner concave surface that defines a first cavity and terminates in a generally circular leading edge. The inner concave surface includes a first cutting feature that is spaced apart from the leading edge. An elongate member extends from the first cutting structure into the first cavity toward the leading edge that includes a second cutting feature. A second cutting structure is secured to the elongate member and positioned within the first cavity. The second cutting structure extends outwardly from the elongate member toward the inner concave surface and includes a third cutting feature.