David W. Sands, CVA
Director
David Sands is a Director in the Boca Raton office.
Sands specializes in the valuation of complex compensation arrangements which may have Stark and/or Anti-Kickback implications, executive compensation consulting services and business valuation. Prior to joining HealthCare Appraisers, he was a private investment manager with Wachovia Securities in Las Olas, Florida.
Sands currently possesses over 11 years of full-time healthcare consulting and valuation experience. During this time, he has gained exposure to every type of analysis that the Firm provides to clients, and has been instrumental in aiding the development of the Firm’s internal standards, FMV guidance and templates. He is a Certified Valuation Analyst (CVA) and holds a BS in Business Administration with a concentration in Finance from Boston University’s School of Management. Sands is a Level II Candidate in the Chartered Financial Analyst (CFA) program.
PRACTICE AREA
- Compensation Valuation
- Executive Compensation & Governance
PUBLICATIONS AND PRESENTATIONS
- Physician-Led Technology Companies – Compliance Risks and Valuation Strategies, co-authored with Fred M. Lara, CFA, ASA, CVA, Partner, and William G. Kaufmann, JD/MBA, Manager, Published by The American Association of Provider Compensation Professionals, November 20, 2022
- CMS Proposed Updates to Open Payments Program, August 26, 2021
- OIG Issues Special Fraud Alert in Connection with Speaker Programs, May 26, 2021
- The Unintended Consequences of Taking the Escalator, co-authored with William G. Kaufmann, JD/MBA, and Fred Lara, CFA, ASA, CVA, November 10, 2020
- Management Services Arrangements – What’s in a Name?, co-authored with William G. Kaufmann, JD/MBA and Fred Lara, CFA, ASA, CVA, July 2020 change date to August 10, 2020
- A Comprehensive Guide to Pathology Arrangements, co-authored with Fred Lara, CFA, ASA, CVA, August 6, 2020
- Management Services Arrangements – What’s in a Name?, co-authored with William G. Kaufmann, JD/MBA and Fred Lara, CFA, ASA, CVA, July 2020
- COVID-19 Impacts, Challenges, and Risks for Clinical Laboratories: An Overview, co-authored by Kristina Kheyfets and Fred Lara, CFA, ASA, CVA, FMVantage Point (Web Edition), May 27, 2020
- Proposed Rule Changes for Cybersecurity in Electronic Health Record (EHR) Donation Arrangements, co-authored with Fred M. Lara, CFA, ASA, CVA, FMVantage Point, December 17, 2019
- FMV Documentation and Real Estate Compliance – Often Overlooked, but Never Undervalued, co-authored with Fred Lara, CFA, ASA, CVA and Kristina Kheyfets, October 2019
- The Long Arm of the Law – Healthcare Fraud and the Travel Act, co-authored with William G. Kaufmann, JD/MBA and Fred M. Lara, CFA, ASA, CVA, Aug 15, 2019
- Excise Tax on Executive Compensation and How Much You End up Paying, co-authored with Fred Lara, CFA, ASA, CVA and Will Kaufmann, JD/MBA, February 2019.
- Understanding Reasonable Executive Compensation for Nonprofit Organizations, co-authored with Fred Lara, CFA, ASA, CVA and Will Kaufmann, JD/MBA, February 2019.
- Webinar – Challenges of Hospital-Based Pathology Compensation Arrangements, hosted by The American Bar Association, co-presented with Jane Pine Wood, Esq., Chief Legal Counsel – BioReference Laboratories, Inc., June 28, 2018.
- Valuing Electronic Health Record System (“EHR”) Donation Arrangements, co-authored with Fred Lara, CFA, ASA, CVA, Manager, HealthCare Appraisers, Inc., FMVantage Point, HealthCare Appraisers, Inc., November 2016.
EDUCATION
- Boston University School of Management, BSBA with a concentration in Finance
CREDENTIALS
- Certified Valuation Analyst (CVA), National Association of Certified Valuators & Analysts
MEMEBERSHIPS
- National Association of Certified Valuators & Analysts (NACVA)
PRIOR PROFESSIONAL AFFILIATIONS
- Series 7 Financial designation (inactive)
- Series 66 Financial designation (inactive)
Recent Insights
2024 Outlook: Home Health, Hospice and Personal Care
Authors: Daniel I. Levin, CFA, ASA and Nicholas J. Janiga, ASA Download the PDFThe home care sector, which includes Medicare-certified home health, hospice, personal care, and other specialty providers, represents an attractive investment opportunity for financial and...
Hospital-based physician staffing industry outlook: The forces of COVID-19, NSA and inflation
Authors: Nicholas Janiga ASA, Daniel I. Levin CFA, ASA and Andrew L. WorthingtonOriginally published in the MGMA April 2024 edition of MGMA Connection. Download the PDF
The Impact of California’s Healthcare Minimum Wage Law on Valuations
Author: Jake Bitting, Fred Lara, CFA, ASA, CVA, and Hunter A. Wolfel Download the PDFOn October 13, 2023 the Governor of California signed the California Senate Bill No. 525 (“SB525”) into law, which is expected to raise the minimum wage for many California healthcare...
2024 Outlook: Diagnostic Imaging Centers and Radiology Practices
Author: Daniel I. Levin, CFA, ASA and Nicholas J. Janiga, ASA Download the PDFHealthCare Appraisers has recently observed interest from a wide range of clients on various radiology transactions, including joint venture formation, hospital outpatient department...
2024 Industry Outlook: ENT, Allergy, and Asthma Practices
Author: Matthew J. Muller, ASA and Nicholas J. Janiga, ASA Download the PDFOtolaryngology (“ENT”), allergy, and asthma (“ENTA&A”) related medical practices have been enjoying a robust period of investor interest as private-equity backed physician-practice...
Upcoming Events
May 5-7 | ATA Nexus 2024
May 5-6, 2024 | Phoenix, AZ HealthCare Appraisers attendees include Director, Hunter A. Wolfel and Director, Andrew L. Worthington. About the Program Dive into the future of virtual care with ATA Nexus 2024: Virtual Nursing Workshop: Interactive, strategy-boosting...
May 8-9 | McGuireWoods 20th Annual Healthcare Private Equity and Finance Conference
HealthCare Appraisers Director, Dan I. Levin, CFA, ASA will be in attendance. The Ritz-Carlton Chicago160 East Pearson Street at Water Tower Place Chicago, IL 60611 Presented by McGuireWoods LLP The healthcare and life science markets are in a period of dramatic...
May 13-15 | BOMA International’s Medical Real Estate Conference
HealthCare Appraisers is proud to serve as a Bronze level sponsor at table #28. HealthCare Appraisers Attendees: Jeff Piehl, Andrew Keller, Matt Chiasson, and Brian Casey. Only one event brings together a cross section of healthcare real estate — investors,...
May 15-16 | McDermott, Will & Emery Physician Practice Management and ASC Symposium 2024
HealthCare Appraisers is proud to serve as a Patron level sponsor. HealthCare Appraisers Attendees: Nicholas Janiga, Hunter Outcalt, and Jamie Mcintrye. INDUSTRY-FOCUSED PROGRAMMING YOU WON'T FIND ANYWHERE ELSE The Physician Practice Management (PPM) and ASC Symposium...