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 Vice 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
- 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 Matthew J. Muller, ASA and Jordan A. Zoeller, MAcc) FMVantage Point (Web Edition), June 18, 2020
- Specialty Pharmacies: Industry Trends and Valuation Considerations (co-authors Matthew J. Muller, ASA and Anusha Patni, MSQAF) FMVantage Point (Web Edition), June 1, 2020
- 2020 Outlook: Telemedicine (co-authors David Y. Lo, CFA, and Matthew J. Muller, ASA) FMVantage Point (Web Edition), May 28, 2020
- 2020 ASC Valuation and Benchmarking Surveys (co-authors Matthew J. Muller, 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, 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
Urgent Care Center Industry in 2020
Authors: Matthew J. Muller, ASA and Nicholas J. Janiga, ASA Download the PDFThe urgent care sector has been a quickly growing segment of the healthcare industry over the last several years, and HealthCare Appraisers has observed growth in transactions in this highly...
Fair Market Value of Chief Medical Officer Compensation
Authors: Nicholas A. Newsad, MHSA Download the PDF OVERVIEW Chief Medical Officers (CMOs) play a critical role in the success of healthcare organizations, tasked with standards of care, quality improvement, and medical staff affairs. Accordingly, CMOs often rank...
COVID-19 FMV Considerations Amongst Waivers
Authors: Erica Jacobovits, JD and Kevin Obletz, JD Download the PDF In the aftermath of the determination by the Secretary of Health and Human Services, Alex M. Azar II (the “Secretary”), that COVID-19 represents a public health emergency[1], the Centers for Medicare...
Hospice Tenancy and Inpatient Services Arrangements – Opportunities and Risks
Authors: Kevin Obletz, JD and Alyse Bentz, JD, MPH Download the PDF INTRODUCTION Prior to the COVID-19 pandemic, many hospitals had begun to expand their outpatient service offerings, as a result of an increasing number of unoccupied inpatient beds.[1] Furthermore,...
Management Services Arrangements – What’s in a Name?
Authors: William G. Kaufmann, JD/MBA, David Sands, ASA and Fred Lara, CFA, ASA, CVA Download the PDFIn forming and evaluating management agreements, hospital operators and counsels alike can have varying expectations as to the nature, structure and value of these...
Upcoming Events
Sep 30-Oct 2 | AHLA Virtual Fraud and Compliance Forum
Healthcare Appraisers is proud to serve as the Program Sponsor for the AHLA Fraud and Compliance Forum. This program brings together legal counsel, compliance officers, and government representatives for an invaluable learning and networking opportunity. This program...
Oct 8-9 | Tennessee Bar Association 2020 Virtual Health Law Forum
HealthCare Appraisers will serve as a Platinum Sponsor for the 32nd Annual Health Law Forum. This forum will take place virtually via live webcast. Recognized as one of the premier health law programs in the country, this annual forum addresses key issues impacting...