Thought Leadership

Raising the ASC Value Ceiling Through Real Estate

December 16, 2016

The real estate component of ambulatory surgical centers (ASCs) has long been a back seat driver when performing ASC valuations. With strong capital markets having turned healthcare real estate investing from a niche market to mainstream investment platform, real estate for ASCs has begun to take a more visible front seat location when it comes […]

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Valuing Electronic Health Record System (“EHR”) Donation Arrangements

November 29, 2016

On October 10, 2006, the Centers for Medicare and Medicaid Services (CMS) implemented exceptions to the Stark and Anti-Kickback rules which preclude EHR donations under the Medicare Modernization Act of 2003. These exceptions allow health entities to subsidize or donate EHRs to independent practices without violating the federal Anti-Kickback Statute or Stark, thus providing an […]

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Valuation of Physician Consultant Arrangements

September 22, 2016 and
Two Medical Professionals in a meeting

Ensuring Compliance within the Medical Device Industry Regulatory restrictions within the healthcare industry often prohibit marketing practices that are common in other less regulated industries. For example, the federal anti-kickback statute places significant constraint on the marketing and sales practices of healthcare-related companies. This statute provides that anyone who knowingly and willfully pays or receives […]

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Unlocking Value Through Licensing Arrangements

September 21, 2016
Doctor shaking patient's hand

Valuing Licensing Arrangements As the costs associated with bringing a product to market continue to increase, medical device and pharmaceutical companies are considering a variety of options ranging from costly mergers and acquisitions that require relatively long timeframes for completion, to licensing arrangements that can be accomplished quickly at a fraction of the cost.  The […]

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Business Transactions: What does the appraised value mean?

September 21, 2016
professionals-discussing-notes

Business appraisers are frequently engaged by buyers and sellers to value healthcare business entities, such as physician practices, ambulatory surgery centers and ambulatory care facilities, to ensure a buy-sell transaction complies with the fair market value standard.  Buyers and sellers, however, are not often aware of how specific deal structures and terms can affect the […]

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Determining FMV Compensation for Telemedicine On-Call Arrangements

September 16, 2016
doctor office space

Telemedicine (also referred to as “telehealth” or “e-health”) is a rapidly-expanding industry that is transforming the delivery of healthcare services. Multiple studies evaluating the effectiveness of telemedicine have found that it is a promising treatment modality with the ability to improve access to care, enhance the quality of value-based care and patient interaction, as well […]

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Practice Collections Guarantees & Subsidy Arrangements

September 15, 2016
Stethoscope and data

Summary It is common for hospitals to enter into arrangements with physician groups in hospital-based specialties (e.g., emergency medicine, hospitalist medicine, critical care, neonatology) to secure clinical coverage.  Hospitals which choose not to employ physicians in hospital and nonhospital-based specialties are increasingly turning to independent physician practices to secure a combination of onsite and offsite […]

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Valuation of Intangible Assets Post Acquisition

September 14, 2016
Doctors discussing data

Accounting Standard Codification 350 – Intangibles, Goodwill and Other Indefinite-Lived Assets (“ASC 350”) govern the accounting treatment for goodwill and indefinite-lived intangible assets previously accounted for as part of a business combination.  Increased merger and acquisition activity has resulted in a significant upturn in the number of intangible assets recognized in companies’ financial statements. Additionally, […]

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Site Inspection or Desktop Appraisal?

September 14, 2016
data analysis at desk

A common challenge that arises in fixed asset appraisals for physician practice transactions relates to determining whether a site inspection is beneficial. Depending on the availability and quality of the data, the appropriate scope of the valuation may require a full inventory of the fixed assets; an assessment and reconciliation to the available fixed asset […]

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Valuing Physician Practices

September 14, 2016
stethoscope and chart

The valuation of a physician practice is one of the most difficult tasks faced by business appraisers. With significant regulatory restrictions, lack of definitive direction for the application of standard valuation theory, and widely differing opinions of valuation “experts,” physician groups and health systems are left wondering what (or whom) to believe. Though valuation is […]

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