Thursday, May 30, 2024 1:00 – 3:00 pm EDT
The Trade Secrets of Understanding and Valuing
Medical Practice Specialties
Speaker: Mark Dietrich, CPA, MBA, MST
Mark Dietrich shares his “trade secrets” from a 45-year career in business valuation to help you understand the numerous medical specialties typically encountered in valuation and how they actually generate revenue and income. Mark will explain the enlightening new research on local market influence on physician service revenue, how private equity influences perceived risk on the discount rate, and how to obtain and use the necessary tools to efficiently navigate healthcare regulations for precise and accurate valuations.
Webinar Outline:
- Numerous medical specialties typically encountered in valuation – and why you likely won’t encounter some others
- Instruction in the core CPT© codes that account for a significant portion of representative specialties’ income
- The Medicare Claims Database for physicians participating in Medicare
- Critical and enlightening new research on local market influence on physician service revenue never before described in the business valuation literature
- Physician income not sourced to CPT© codes
- Tips on the management interview and data request
Learning Objectives:
The participant will:
- Understand how different medical specialties actually generate revenue and income
- How to construct a Service Distribution Summary from individual CPT© codes to “see the forest for the trees”
- Gain insight into how private equity influences perceived risk in your discount rate – and why surgery centers help drive that influence
- Learn about a key source for forensic investigations through use of the Medicare Claims Database when litigation blocks data production
- Learn the basics of revenue and profit analysis, including constructing a departmental P&L, using physician billing codes, and other revenue sources from a case study on orthopedics – and where to obtain the necessary valuation engagement tools to apply it
Handouts:
- VPS webinar slides
- Following the webinar, attendees will have access to a video recording of the program.
Mark O. Dietrich, CPA, MBA, MST
Mark is a summa cum laude, Beta Gamma Sigma graduate of Boston University where he also earned an MBA with high honors. He is the author of the new Engagement Guide to Understanding and Valuing Medical Practice Specialties and the completely revised BR Guide to Physician Practice Finance and Valuation, 4th Edition. Mark was recently named as a member of the inpatient Patient and Family Advisory Council (PFAC) at Boston’s Brigham & Women’s Hospital, one of the top 20 hospitals in the country. Mark’s career experience includes working with numerous physician practices as a tax advisor, operational consultant, designing and implementing compensation plans, negotiating managed care and Medicare Advantage contracts, serving as partner-in-charge of the audit of a tax-exempt faculty group practice affiliated with a major teaching hospital, and performing valuations on behalf of both medical practices and tax-exempt hospitals. His more than 500 career engagements spanned 46 states and the United Kingdom.
Jim Hitchner’s Valuation Products and Services (VPS) provides tools to assist practitioners in business valuation, litigation services, and forensics and fraud.
Valuation Products and Service, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.