Matthew J. Muller, ASA


Office: Denver

Main: (303) 688-0700
Direct: (303) 566-3179


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.


  • Business Valuation




  • 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.

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  • Bachelor of Business Administration in Finance, Seidman College of Business at Grand Valley State University, Grand Rapids, MI


  • Accredited Senior Appraiser (ASA) in Business Valuation, American Society of Appraisers (June 2015)


  • 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)


  • American Society of Appraisers (ASA)


  • 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...

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...