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.
Muller is an Accredited Senior Appraiser (ASA) in Business Valuation through the American Society of Appraisers, and is a Board member and former President for Denver Chapter 12 of Region 4 of the American Society of Appraisers. In 2019 he was recognized by the American Society of Appraisers as a Rising Star in the industry, and in 2022 as Chapter Member of the Year. 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
- Healthcare Joint Ventures: Know the Value of Your Assets, co-authored with Landon Forsythe Muller and Nicholas J. Janiga, ASA, November 16, 2023
- Medicare Shared Savings Program Results for Performance Year 2022, co-authored with Nicholas J. Janiga, ASA, September 25, 2023
- 2023 Cardiology Industry Outlook: A Reviving Heartbeat, co-authored with Bobby Van Dusen, MSAQF, and Nicholas J. Janiga, ASA, September 12, 2023
- ASC Valuation, Transaction, and Industry Trends in 2023, co-authored with Benjamin Cloutier and Nicholas Janiga, ASA, May 15, 2023
- Personal Goodwill: A Common Multi-Million Dollar Component in Physician Practice Transactions, co-authored with Daniel I. Levin, CFA, ASA and Nicholas J. Janiga, ASA, November 11, 2022
- How Much Is Your ASC Worth? Learning your surgery center’s value can help with short- and long-term planning, by Robert Kurtz, Matthew Muller, Ambulatory Surgery Center Association’s ASC Focus, ASCA Journal, August 2021
- 2021 ASC Valuation and Benchmarking Surveys – Timely Insight into the Trends and Forces Shaping the ASC Industry, co-authored with Nicholas J. Janiga, ASA, Matthew J. Muller, ASA, David Lo, FA, ASA, Daniel Levin, CFA, ASA May 2021
- 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 Joint Ventures: Know the Value of Your Assets
Authors: Landon Forsythe, Matthew Muller, ASA and Nicholas J. Janiga, ASA Download the PDFThe healthcare industry is an economic sector that is constantly facing unique challenges. The industry is highly regulated with rules that frequently shift in a manner that...
Navigating Ambulance Transport Arrangements and Transactions
Authors: Ciara A. Kerney, Hunter A. Wolfel, and Nicholas J. Janiga, ASA Download the PDF OVERVIEW Over the years, HealthCare Appraisers has analyzed numerous medical transport arrangements. While it is hard to miss the warning sounds of an approaching ambulance, the...
Service Line Co-Management and Value Based Care Strategy
Authors: Landon Forsythe and Jamie McIntyre, JD Download the PDFA growing interest in hospital-provider alignment, coupled with the desire to establish meaningful mechanisms for provider accountability related to hospital quality, efficiency, and patient outcomes,...
Industry Insights: Women’s Health in 2023
Authors: Cecelia R. Chavez, AM, Chris Vaughan, MBA, ABV, and Nicholas J. Janiga, ASA Download the PDF INTRODUCTION The women’s health industry has experienced significant growth and transformation in recent decades, driven by demographic and population trends,...
Are Your Full-Time Providers Truly 1.0 FTEs? The Importance of Developing Best Practices When Using Healthcare Provider Compensation Surveys
Authors: Emily A. Rodriguez, MBA and Nicole Jacobsen, JD, MBA, LLM Download the PDFOriginally published in the American Association of Provider Compensation Professionals Bulletin on August 1, 2023. OVERVIEW The use of healthcare provider compensation data...
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