Matthew J. Muller, ASA
Director
Matthew Muller is a Director in the Denver office.
Muller has been providing his clients analysis and consultation in business valuation, intellectual property, litigation support, and healthcare provider compensation relationships since 2010. His experience includes working with healthcare organizations, attorneys, administrators, providers, developers, consultants, investment bankers, and private equity groups in connection with transactions in the healthcare industry. Many of the transactions he analyzes involve Stark, Anti-Kickback, IRC 501(c)(3), and/or other regulatory implications, which requires analysis of fair market value and the determination of commercial reasonableness.
Mr. Muller is an Accredited Senior Appraiser (ASA) in Business Valuation through the American Society of Appraisers, and is President of the Denver Chapter of the American Society of Appraisers. In 2019 he was recognized by the American Society of Appraisers as a “Rising Star” in the industry. He holds a Bachelor of Business Administration from the Seidman College of Business at Grand Valley State University.
PRACTICE AREA
- Business Valuation
PUBLICATIONS AND PRESENTATIONS
PUBLICATIONS
- Valuation Trends and Considerations: Laboratories, co-authored with Nicholas J. Janiga, ASA, and Daniel I. Levin, CFA, ASA, January 8, 2021
- Urgent Care Center Industry in 2020, co-authored with Nicholas J. Janiga, ASA, September 15, 2020
- Accounting Standards Changes: ASC 842, IFRS 16, and Potential Business Valuation Pitfalls (co-authors Nicholas J. Janiga, ASA and Jordan A. Zoeller, MAcc) FMVantage Point (Web Edition), June 18, 2020
- Specialty Pharmacies: Industry Trends and Valuation Considerations (co-authors Nicholas J. Janiga, ASA and Anusha Patni, MSQAF) FMVantage Point (Web Edition), June 1, 2020
- 2020 Outlook: Telemedicine (co-authors David Y. Lo, CFA, and Nicholas J. Janiga, ASA) FMVantage Point (Web Edition), May 28, 2020
- 2020 ASC Valuation and Benchmarking Surveys (co-authors Nicholas J. Janiga, ASA, Daniel I. Levin, CFA, ASA, and David Y. Lo, CFA), Spring 2020
- Distressed Hospitals – Transactions and Trends (co-authors Ciara Pocino and Matthew J. Muller, ASA), FMVantage Point (Web Edition), March 30, 2020
- Birth of a Boon: The Rise of Fertility Clinics (co-authors Jordan A. Zoeller, MAcc and Matthew J. Muller, ASA), FMVantage Point (Web Edition), February 6, 2020
- Understanding the Value of a Certificate of Need (co-authors Jordan A. Zoeller, MAcc and Matthew J. Muller, ASA), FMVantage Point (Web Edition), January 30, 2020
- Selling a Medical Practice? Don’t Overlook Your Personal Goodwill (co-authors Giulia Pace, MBA, and Matthew J. Muller, ASA), FMVantage Point (Web Edition), January 16, 2020
- ASC Valuation Multiples, Market Collaboration on the Rise, The ASCA Journal, October 30, 2019
- Current Trends in Hospital Transactions: 2019, (co-author with Nicholas Janiga, ASA) October 9, 2019
- 2019 ASC Benchmarking Survey, Summer 2019
- 2019 ASC Valuation Survey, Spring 2019
- 2018 Valuation Survey Physician-Owned Hospitals (co-author with Nicholas J. Janiga, ASA) Fall 2018.
- Recent Trends Affecting the Value of ASCs, ASC Physician Focus, An ASCA Publication (co-author with Nicholas J. Janiga, ASA), Vol. 2, No. 2, Summer/Fall 2018.
- Second Opinions Are Not Just for Patients: The Benefits of an Appraisal Review, FMVantage Point (Web edition), October 9, 2018.
- The Importance of Appraisal Review in the Transaction Process, (co-author with Nicholas Janiga) FMVantage Point (Web edition), August 30, 2017.
- 6 Reasons to Hire an Expert to Value Diagnostic Imaging Centers, FMVantage Point (Web edition), August 22, 2017.
- Increasing the Value of an ASC, featured expert, The Ambulatory M&A Advisor, May 2, 2016.
- Mistakes to avoid when acquiring physician practices: Operations and integration, (co-author with Nicholas Janiga) Healthcare Finance News (Web edition), November 5, 2013.
- Mistakes to avoid when acquiring physician practices: Costs and expectations, (co-author with Nicholas Janiga), Healthcare Finance News (Web edition), October 30, 2013.
- 7 Common Reasons for Hospital Transactions (co-author with Nicholas Janiga), Becker’s Hospital Review (Web edition). May 16, 2013.
PRESENTATIONS
- 2019 ASC Valuation and Transaction Trends, Ambulatory Surgery Center Association (ASCA) 2019 Conference & Expo, Nashville, TN, May 15, 2019
- Telemedicine and Its Impact on Appraisals, (co-presented with Kevin Cassell), American Society of Appraisers – Denver Chapter Meeting, Denver, CO, March 12, 2019.
- Key Thoughts on ASC Valuations, (co-presented with David Walline), Becker’s ASC 24th Annual Meeting, Chicago, IL, October 26, 2017.
EDUCATION
- Bachelor of Business Administration in Finance, Seidman College of Business at Grand Valley State University, Grand Rapids, MI
CREDENTIALS
- Accredited Senior Appraiser (ASA) in Business Valuation, American Society of Appraisers (June 2015)
APPRAISAL AND PROFESSIONAL EDUCATION
- American Society of Appraisers’ 30-hour course, BV401: CEIV Course – Valuation for Financial Reporting (September 2020)
- American Society of Appraisers’ 30-hour course, BV301: Valuation of Intangible Assets (September 2016)
- American Society of Appraisers’ 30-hour course, BV204: Advanced Topics in Business Valuation (January 2014)
- Certificate Program in Accounting at Metropolitan State University of Denver (2013)
- American Society of Appraisers’ 30-hour course, BV203: Business Valuation Case Study (June 2012)
- American Society of Appraisers’ 30-hour course, BV202: Introduction to Business Valuation Part II (January 2012)
- American Society of Appraisers’ 15-hour course, SE100: Uniform Standards of Professional Appraisal Practice (“USPAP”) (October 2011)
- American Society of Appraisers’ Ethics Exam (June 2011)
- American Society of Appraisers’ 30-hour course, BV201: Introduction to Business Valuation Part I (January 2011)
- Level 1 of the Chartered Financial Analyst program (2007)
MEMBERSHIPS
- American Society of Appraisers (ASA)
PRIOR PROFESSIONAL AFFILIATIONS
- Senior Commercial Credit Analyst, PNC Bank
- Commercial Credit Analyst, Bank of America
Recent Insights
HealthCare Appraisers, Inc. Partner Joins AHLA’s Roster of Neutrals
BOCA RATON, Fla., July 9, 2021 – Andrea Ferrari, JD, MPH, partner with HealthCare Appraisers, Inc., a national healthcare valuation and advisory firm, joins the American Health Law Association’s (AHLA) national roster of arbitrators, mediators, and hearing officers....
OIG Issues Special Fraud Alert in Connection with Speaker Programs
Author: David W. Sands, CVA Download the PDFThe Department of Health and Human Services’ Office of Inspector General (OIG) recently released a Special Fraud Alert[1] aimed at pharmaceutical and device companies that use speaker programs to compensate physicians and...
A Multi-Specialty ASC is the Subject of Latest OIG Advisory Opinion
Author: Fred M. Lara, CFA, ASA, CVA Download the PDFOn April 29, 2021, the Office of Inspector General (the “OIG”) posted Advisory Opinion No. 21-02, which addressed a request from a health system and management company (the “Requestors”) for review of a proposed...
HealthCare Appraisers Releases 2021 ASC Valuation and Benchmarking Surveys – Timely Insight into the Trends and Forces Shaping the ASC Industry
BOCA RATON, Fla., May 6th – HealthCare Appraisers, a leading healthcare valuation and advisory firm with offices nationwide, released its comprehensive 2021 Ambulatory Surgery Center (ASC) Valuation and Benchmarking Surveys. Research from these surveys reveal data...
2021 ASC Valuation and Benchmarking Surveys
HealthCare Appraisers' clients, please contact your representative for a complimentary copy of the 2021 ASC Valuation and Benchmarking Surveys. These surveys have become widely-utilized and valuable industry resources over the years, and we hope you enjoy the...
Upcoming Events
Sept 21 – Oct 1 | AHLA Fraud and Compliance Forum 2021
Healthcare Appraisers is a proud Platinum Sponsor of both the virtual and in-person events. This important program brings together legal counsel, compliance officers, and government representatives for an invaluable learning and networking opportunity. The planning...
Oct 24-27 | MGMA Medical Practice Excellence Leaders Conference
Healthcare Appraisers will be exhibiting at booth #231. EXPERIENCE EDUCATION, INNOVATION AND CONNECTION TO DRIVE EXCELLENCE. Stay tuned! As we announce an impressive line-up of educational sessions chock-full of tools, case studies and actionable takeaways. The...
Nov 1-3 | 2021 BOMA International’s Medical Office Buildings + Healthcare Real Estate Conference
Healthcare Appraisers is a proud Bronze Sponsor of this event. BRINGING THE FUTURE OF MEDICAL REAL ESTATE INTO FOCUS These unprecedented times have intensified change in the rapidly evolving healthcare real estate market, and they require a renewed focus on the...