Featuring  (click image for bio)

Timothy R. Smith CPA/ABV TS Healthcare Consulting

About This Program

Agenda

• The Actual and the Hypothetical in FMV Based on Valuation Theory
1. The hypothetical willing buyer and seller based on actual market conditions
2. Valuing an actual transaction in healthcare regulatory compliance work
3. Valuing an actual subject, not a hypothetical one
4. Using the actual facts and circumstances
• The Buyer and Seller in Healthcare Transactions
1. Markets with multiple buyer types
2. Markets with predominant or single buyer types
3. Unique market conditions
4. How the regulatory purpose/use prevents certain characteristics of the hypothetical buyer and seller from being used
• Overview of FMV and Valuation Practice under Current Healthcare Regulations
1. Stark law and regulations
2. Anti-kickback statute
3. Tax-exempt regulations
• The Proposed Redefinition of FMV
1. The government’s view of FMV as a “hypothetical value” of a “hypothetical transaction”
2. “Market value” as the new basis for general market value under Stark
3. What is “market value”?
4. “Market value” as investment value
5. The problems with the new definition of FMV and general market value
• The New Move Towards “General Concepts and Principles in the Valuation Community”
1. CMS’ affirms standard valuation practice?
2. What are “accepted market valuation principles”?
• A Critical Analysis of CMS’ Compensation Examples
1. The “rock star” orthopedic surgeon
2. The family physician and the reluctant hospital
3. How “survey says” is the root problem in CMS’ compensation examples
4. How accepted valuation principles would approach the examples
5. A paradigm shift away from “survey says”?

Learning Objectives

• List the differences between the actual and the hypothetical in FMV based on the valuation body of knowledge
• Contrast the historical perspective of healthcare regulators on matters of FMV and valuation
• Examine the changes in the proposed redefinition of FMV for the Stark regulations
• Explain how to prepare for future valuation work under the new paradigm for FMV and accepted valuation practice

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CPE Information

Prerequisites: Knowledge of Business Valuation
Program Level: Advanced
Preparation Required: None
Delivery Method: Group Internet-Based
Recommended CPE: 2 Credit Hours (Accounting Technical)

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