Guide to Healthcare Industry Compensation and Valuation Completes 2012 Grand Slam

September 9th, 2012 | Cost Approach | Healthcare Reform | Income Approach & Methods | Market Approach | Medicare | Noncompete Agreements | Reasonable Comp | Regulatory Matters | Seminars & Publications | Valuing Goodwill

Tim Smith and I have completed the editing of the BVR Guide to Healthcare Industry Compensation and Valuation, to which we both serve as contributing authors along with a number of others.  This is the first book of its kind and offers some dramatic new research into the use of the various compensation surveys as well as the first attempt to present a model for the systematic application of the principles of fair market value to healthcare industry compensation. In-depth discussions of commercial reasonableness are also included. There are 42 chapters in all, including 30 that represent all new or completey revised material.

My own contributions include a chapter analyzing the interplay of Business Valuation and Compensation Valuation with Fair Market Value (FMV) and Commercial Reasonableness (CR) that is certain to generate some debate about where the line betwen FMV and CR is drawn. My chapter on Reasonable Compensation for Tax Purposes includes nearly 27,000 words with a review of IRC section 162 and the case law, the Independent Investor test re-emphasized in the new Mulcahy case, how the differentiation between personal and enterprise goodwill and intangible value affects reasonable compensation and challenges the compensation appraisal industry to apply the principles of section 162 to FMV, particularly where the employing entity is tax-exempt.

I’d like to express my gratitude to the various contributors from Horne, PYA, HAI and CBIZ.

With the U.S. Open about to conclude, I am reflecting on my own version of the Grand Slam: publishing four books in a single year. You can see the others here:
http://www.cpa.net/publications/

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