• Healthcare - QuickRead Top Story - Valuation/Appraisal

    Preparing a Medical or Dental Practice for a Someday Sale

    February 4, 2026

    Advice for Medical and Dental Professionals and Their Advisors This article walks readers through what really matters long before these professionals think about listing their practice for sale. Understanding the “why” behind each step, not just the “what”, is crucial. As one reads through, keep in mind that the information is generalized, not specific to a specific specialty area. It is strongly suggested the dental and medical professionals consult with a trusted professional(s) to provide the smoothest path toward the transition or retirement phase. *Preface: Recently, I have had two medical/dental practice valuation referrals, and two physician-clients ask me for…

  • Practice Management - QuickRead Top Story

    Three Common Ratios I Do Not Like

    April 20, 2022

    Alternative Means to Effectively Gauge Business Operations and Assist Owners Three ratios that are widely used have validity because they are either used in business valuations, loan covenants, reports to stockholders in Form 10-Ks, used when financial statement analyses are performed, or have familiarity because they have become entrenched in the system. The author of this article considers reliance on these three ratios as “inadequate in advising clients that need effective information to operate their businesses” and perhaps do not help in isolation valuations drivers that assist managers in operating businesses. The author discusses other metrics that provide better insight.…

  • QuickRead Top Story - Valuation/Appraisal

    Could Missing Non-GAAP Adjustments Adversely Affect Your Concluded Value?

    October 20, 2021

    Why it Matters This article examines the major nonconformance issues the average valuator may face, where to find the information necessary to investigate, and how to make the adjustments to conform with GAAP. The adjustments discussed are not exhaustive but do cover the more common adjustments valuators should consider. While a valuation is not an audit, the valuation analyst must recognize material deviations from GAAP and understand how to make the necessary adjustments. Valuation principles require the financial statements used be prepared based on generally accepted accounting principles (GAAP) unless there is a different agreement by the parties to the…

  • QuickRead Top Story - Valuation/Appraisal

    Confronting Behavior Bias

    October 30, 2019

    In Financial Projections (Part II of II) This is a two-part article that considers the review and assessment of prospective financial information. Specifically, this discussion describes the behavioral bias that may influence financial projections. This discussion should inform any party involved in compiling or assessing financial projections. This discussion is particularly relevant for fiduciaries who may be involved in the transaction or other investment decision-making process. In Part I of this article, the authors discussed key questions fiduciaries should ask to understand financial projections and eliminate or reduce bias. In this second-part, the authors discuss company-specific considerations—a qualitative approach and…

  • Financial Forensics - QuickRead Featured

    The Z-Score Revisited

    October 29, 2013

    Uses of the Z-score in litigation and insolvency matters Dr. Edward Altman’s Z-score turned 45 years old this month. For the operations-focused valuation analyst, the Z-score is just as relevant today as it was when Dr. Altman introduced it in September 1968. The key to its enduring success is that it is based on fundamental financial ratios that represent value drivers, even in today’s changing market.