HealthCare Appraisers is proud to again serve as the Lead Platinum Sponsor for AHLA’s Fraud and Compliance Forum.

As our country continues the fight against COVID-19, we have never been more proud to be affiliated with the American Health Law Association, and to work alongside your hospital and physician members. For those who don’t know us, HealthCare Appraisers is a national valuation and advisory firm exclusively focused on healthcare. We have been leading the industry for 20 years, and are honored to serve our clients in all 50 states and around the world.

Healthcare leaders and law professionals look to our firm to provide educational material on timely topics, so they have valuable industry insight right at their fingertips. Today, we have three new FMVantage Points – which is exclusive content curated by our firm – that we are sharing with AHLA first.

Should you have any questions, each author’s bio and contact information is provided on this page. And you are always welcome to call us at (561) 330-3488 to discuss any other valuation needs you may have.

 Download Now 

Sydney Hilzenrath HAI Headshot

Sydney Hilzenrath, CEP, CECP

Sydney Hilzenrath is a Partner in the Philadelphia office.

Hilzenrath assists clients in evaluating the appropriateness and enhancing the effectiveness of compensation programs in the context of organization strategy, emerging trends of corporate governance and the perspectives of stakeholders, investors and proxy advisors. Her consulting experience covers a broad range of for- and not-for-profit organizations including healthcare, biopharmaceuticals, insurance (property & casualty and healthcare), consumer products, retail, industrial manufacturing, transportation, and utilities. Hilzenrath has over 14 years of consulting experience specializing in executive and board compensation, and her areas of expertise include Executive and Board of Directors compensation benchmarking, short-term and long-term incentive plan design, pay-for-performance alignment, employment and severance agreement evaluation and design, and special pay arrangements. Prior to joining HealthCare Appraisers, Ms. Hilzenrath was a consultant in Korn Ferry’s Executive Pay & Governance practice.

Phone: (484) 588-0288Email:

Nicholas Janiga

Nicholas J. Janiga, ASA

Nicholas Janiga is a Partner in the Denver office.

Janiga leads the firm’s business valuation and capital assets valuation service lines.  He has been providing his clients analysis and consultation in business valuation, litigation support, intellectual property and healthcare provider compensation relationships since 2006.  His experience includes working with healthcare organizations, attorneys, administrators, providers, developers, consultants, investment bankers, and private equity groups in connection with a broad spectrum of transactions in the healthcare industry.  Many of the transactions he analyzes involve Stark, Anti-Kickback, IRC 501(c)(3), and other regulatory implications, which requires analysis of fair market value and the determination of commercial reasonableness.  He also has experience providing expert testimony in deposition and trial settings.

Direct: (303) 566-3173 | Email:

Sydney Hilzenrath HAI Headshot

Nicole M. Jacobsen, JD, LLM, MBA

Nicole Jacobsen is a Manager in the Chicago office.

Jacobsen’s practice focuses on the analysis of healthcare provider compensation valuation. Before joining HealthCare Appraisers, she worked for various law practices and a major title insurance company in taxation law research and title searches.

Jacobsen earned a Master of Laws (LLM) in Taxation from the University of Florida, a Juris Doctor cum laude and Master of Business Administration from Western New England University, and a Bachelor of Arts degree from the University of Wisconsin-Parkside. She is a member of the Wisconsin Bar and the Wisconsin Health Law Section.

Phone: (847) 756-6150 | Email:

Recent Insights

The Value of Branding in Healthcare

Authors: Giulia F. Pace, MBA, CVA; Nicholas J. Janiga, ASA; and David Y. Lo, CFA Download the PDFThe recent COVID-19 pandemic has highlighted the key role of healthcare organizations in helping their communities understand, process and respond to current events. While...

2020 Physician Relocation Study

HealthCare Appraisers is pleased to present its 2020 Physician Relocation Study. This study analyzes the long-term relocation patterns of a large sample of physicians at all stages of their careers. Our firm provides fair market value (FMV) opinions for thousands of...

Forecasting 2021 Proposed Rule for Physician Practices

Author: Nicholas A. Newsad, MHSA Download the PDFThe 2021 Medicare Physician Fee Schedule (MPFS) proposed rule includes recommendations by the Relative Value Scale Update Committee (RUC) to increase the work relative value units (wRVUs) for common evaluation and...

Upcoming Events

Nov 9-10 | 38th Annual IAHA Health Law Symposium

Healthcare Appraisers is proud to serve as a sponsor for the 38th Annual IAHA Health Law Symposium. 2020 has been an unprecedented year in Health Law. IAHA Symposium Chair Nick Brescia, with the support of his Committee, have built a schedule of symposium sessions...