Praise and Patient Access Concerns Raised from the Cuts On November 2, 2023, the Centers for Medicare & Medicaid Services (CMS) released its finalized Medicare Physician Fee Schedule (MPFS) for calendar year (CY) 2024. While the finalized fee schedule cuts payments to physicians, there are a number of other (more positive) provisions in the final rule. An update to the September 2023 article on the prop ...

In this article, the author shares his views on why it is incumbent to become a specialist. I want to lay this out right up front: The primary reason to specialize is that it is in the best interest of the clients we serve. It allows us to focus solely on them, truly care about them, patiently learn more about them, and create more value based on what they know they need (or what we know they need) … becaus ...

How to Manifest a Better, More Fulfilling Valuation Practice Several months ago, a friend of mine gifted the article’s author a book entitled The Seven Spiritual Laws of Success: A practical guide to the fulfillment of your dreams, written by Deepak Chopra. A few of the sections within the book hit home more than others and the excitement that has inspired the author to write the article herein. The author ...

Use in Private-Business Valuation (Part II of II) This two-part article in this continuing series explains the implied private company pricing line (IPCPL). Read Part I here. IPCPL explains and predicts how buyers and sellers of capital assets in private markets set risk-adjusted discount rates under conditions of non-zero transaction cost differentials between public and private markets; and, accordingly, ...

The Death of Testimonial Overstatement The proper interpretation for the standard of admissibility under the amended Rule 702 of the Federal Rules of Evidence will hopefully result in an evidentiary change that flies in the face of every hired gun’s essence, as the real impact of the trial court truly being a gatekeeper is that it will shield the jury from the testimonial overstatement salaciously proffered ...

Use in Private-Business Valuation (Part I of II) This two-part article in this continuing series explains the implied private company pricing line (IPCPL). IPCPL explains and predicts how buyers and sellers of capital assets in private markets set risk-adjusted discount rates under conditions of non-zero transaction cost differentials between public and private markets; and, accordingly, IPCPL explains and ...

Rosenthal v. Erber illustrates the pressure and perils of dueling experts. The expert is charged with assisting the court ascertain the facts, rather than furthering the client’s ambition. The case is a reminder to business valuation professionals that ethical considerations are paramount and that doing the contrary leads to courts’ suspecting the role of experts in the process. In the main, valuation exper ...

Forthcoming Changes in Gift and Estate Tax Thresholds In the complex world of gift and estate tax planning, significant changes are on the horizon. The 2026 sunset, a date circled in red on the calendars of tax professionals and high-net-worth individuals, potentially signifies the end of the current, more generous tax-free lifetime estate and gift tax thresholds. The authors share their thoughts on how the ...

Do Not Be Afraid to Innovate This article focuses on how advances in AI and machine learning can aid forensic investigations procedures and further bring the detection of fraud and other financial crimes into the digital age. Introduction In today’s rapidly evolving digital landscape, fraud and financial crime have become an increasingly complex and pervasive issue for organizations, big and small, global, ...

Professionals set milestones, yet miss some or many. The author in this article proposes a reason for why goals are not met and proposes a solution in this article. You know what you need to do to grow your practice. You say you’re gonna do them. They are on your to-do list. So why haven’t you done them? Face it, we generally know what we need to do (in almost any situation). But most of us, including me, s ...

When You are Retained by Counsel for the Out-Spouse Valuing private equity and hedge fund general partner interests is a complex matter. Valuing them in a divorce proceeding can be an even more complex matter. The focus of this article is to share the challenges valuators may face when engaged to value general partner interest in private equity and hedge fund businesses in divorce matters when NOT engaged b ...

Embrace a Systematic Approach Fraud is a pervasive issue that affects businesses, organizations, and individuals across various industries. Often, an organization is surprised to find itself a victim of fraud, especially when the perpetrator is a trusted employee. This article details the first steps a company should take when initiating a fraud investigation, what experts will be necessary to uncover illic ...

and Business Valuations This article delves into the key factors that shape the value of healthcare services, from cost behavior to pricing strategies, and offers insights into how valuation professionals can navigate this complex terrain. "Healthcare services are a fundamental necessity, and understanding the key drivers of value in medical practices and healthcare businesses is essential for conducting a ...

NACVA Evaluates Impact of ChatGPT on the Membership Imagine having a quirky little virtual assistant that can draft professional articles, generate narratives, and assist with academic writing. With the recent buzz around ChatGPT, an artificial intelligence chatbot developed by OpenAI, the possibilities of utilizing this technology in the forensics and valuation services world has created mixed viewpoints. ...

Stakeholders Welcome and Also Dispute Various Changes On July 13, 2023, the Centers for Medicare & Medicaid Services (CMS) released its proposed Medicare Physician Fee Schedule (MPFS) for calendar year (CY) 2024. In addition to the agency’s suggested cut to physician payments, the proposed rule announced changes in policies for the advancement of health equity, as well as the expansion of access to crit ...

4 Reasons Why You Don’t Have the Practice You Want (Yet) If you have the practice you want, congratulations! Stop reading now and use this time to do something else. But if there is a gap between the practice you have and the one you want, why does it exist? There are four possible reasons. Rod Burkert names those four reasons and what you can do to bridge the gap. If you have the practice you want, congrat ...

The Aftermath of the 2022 AHA v. Azar SCOTUS Decision On July 13, 2023, the Centers for Medicare & Medicaid Services (CMS) released the proposed rule for the Outpatient Prospective Payment System (OPPS) and Ambulatory Surgical Centers (ASCs) for calendar year (CY) 2024. The agency proposes an increase in payments to all outpatient providers, introduces a new program, and announces their solution to repa ...

Ethical and Practical Implications Too many appraisers omit the contingent BIGL in their appraisals. It certainly is easier to yield to the pressure of estate attorneys, CPAs, and the IRS on this point, but in light of the evidence for inclusion, is this the ethical path? The author discusses the merits and ethics of including the BIGL. Too many appraisers omit the contingent built-in capital gain tax liabi ...

Normalization Adjustment Steps and Practice Pointers Reasonable compensation is among the most common of all normalizing adjustments in valuations of closely held businesses. The dollar amounts involved can be significant, the issues can be complex, and the valuator’s conclusions can be controversial. In preparing to make these adjustments, there are a series of steps that are normally followed. Among the s ...

ChatGPT for Accountants: The Accountant’s Guide to AI and ChatGPT In this article, the authors review ChatGPT for Accountants: The Accountant's Guide to AI and ChatGPT. They discuss thought-provoking exploration of the relationship between artificial intelligence (AI)—primarily ChatGPT—and the accounting, auditing, and tax professions, and offer their views on the benefits and perils of integrating AI into ...