For many years, the healthcare valuation community has been divided over which approach to value should reign supreme in valuing physician practices. Thought leader Tim Smith claims he has now definitively resolved the debate of why there are such divergent value indications in physician practices. He proposes the issue stems from incorrect application of cost and asset approaches along with the failure to properly reconcile these indications in arriving at a conclusion of value. He claims the resolution is simply a matter of paying attention to the key texts in the valuation body of knowledge and presents alternative strategies consistent with the profession’s fundamentals. The debate, according to Smith, is over. Attend and decide for yourself.
Program Agenda
Understanding the key economics of physician practices as the prerequisite for their valuation
Analyzing deal structures and terms in physician practice transactions
Distinguishing the asset and cost approaches in valuing physician practices
No asset left behind: accurate use the asset approach
Correct application of the cost approach in valuing intangible assets
Valuing physician contracts and workforce under the asset, cost, and income approaches
Issues in the application of the market approach
Reconciling the value indications from the approaches used in the valuation
Value under a liquidation premise
Special cases and common justifications for hospital-physician deals
Learning Objectives
Understand the key issues in the debate about valuing physician practices
Apply the asset approach on a comprehensive and complete basis
Know and use the generally accepted cost approach for valuing tangible and intangible assets
Reconcile value indications to identify inconsistent assumptions in the approaches to value
Analyze critical questions in the premise of value
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