Top 10 Healthcare Valuation Firms in the USA
Jeet Chaudhary
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If you work in the healthcare industry, you know how complicated valuations can be.
Whether you manage a physician group, operate an outpatient clinic, lead an ASC, or work within a hospital system, you have probably noticed that healthcare deals have far more regulations, risks, and moving parts compared to other industries.
That is why healthcare valuation matters so much. It helps you stay compliant, avoid regulatory trouble, and make informed business decisions.
Recent studies show how high-risk this area has become.
The Office of Inspector General (OIG) reports that healthcare organizations continue to face investigations related to compensation arrangements and improper FMV assessments.
Because of this, having a defensible healthcare valuation is not just smart. It is necessary.
When you choose the right healthcare valuation firm, you get the peace of mind that your agreements align with regulatory standards and industry benchmarks.
In this guide, you will discover the top 10 healthcare valuation firms in the United States.
What Is Healthcare Valuation?
Healthcare valuation is the process of determining the Fair Market Value (FMV) of healthcare businesses, assets, or compensation arrangements.
If you work in the healthcare sector, you will deal with valuations more often than you may realize. Hospitals, physician groups, labs, ASCs, and even medical device companies all rely on valuations to stay compliant and make informed business decisions.
One of the biggest reasons healthcare valuations matter is compliance.
Regulations such as the Stark Law and the Anti-Kickback Statute require that payments to physicians and financial relationships between healthcare providers meet FMV standards.
Stark Law focuses on preventing improper physician referrals, while the Anti-Kickback Statute prohibits financial arrangements that could influence medical decisions.
You can find detailed explanations of these regulations at the U.S. Department of Health & Human Services (HHS) and the Centers for Medicare & Medicaid Services (CMS).
Healthcare valuations cover many different areas. Some valuations focus on the value of a business, such as a physician practice, imaging center, or ambulatory surgery center.
Others focus on compensation arrangements, like physician employment agreements, medical directorships, call coverage rates, or professional service agreements.
Reliable market data, cost benchmarks, and industry research must support these valuations.
Ultimately, healthcare valuation is not just about calculating numbers. It is about using accurate data, regulatory knowledge, and professional judgment to determine a value that is fair, compliant, and defensible.
Comparison Table: Top 10 Firms at a Glance
When you are trying to compare healthcare valuation firms, it helps to see everything side by side.
Healthcare valuations are not all the same, and each firm brings different strengths, specialties, and levels of regulatory expertise.
The table below gives you a quick snapshot of how the top firms differ so you can choose the one that fits your needs best.
| Firm | Specialties | Pricing Level | Turnaround Time | Compliance Strength | Analyst Qualifications |
|---|---|---|---|---|---|
| Vint & Co. | Fair value, ASC 820, business valuation | Medium | 10–15 business days | Excellent | High (CVAs, CPAs, CFAs, ASAs) |
| Ellis Ventures Services | Business valuations, healthcare transactions | Medium | 7–14 business days | Strong | High |
| VMG Health | Fair value, M&A, compensation consulting | Medium | 10–20 business days | Excellent | High |
| HMS Valuation Partners | Fair value, compensation valuation | Medium | 10–15 business days | Strong | Medium–High |
| FTI Consulting | Forensic accounting, transaction advisory | Premium | 15–30 business days | Excellent | Very High |
| HealthCare Appraisers, Inc. | Fair value, compensation, asset valuations | Medium | 10–20 business days | Excellent | High |
| Cainman Group | Fair value, physician compensation | Low to Medium | 7–14 business days | Strong | Medium–High |
| HealthValue Group | Fair value, compensation, valuation advisory | Low to Medium | 7–14 business days | Strong | Medium |
| Buckhead V | Physician comp, RCM advisory | Medium | 10–15 business days | Excellent | High |
| Deloitte | Complex enterprise valuation, M&A | Premium | 20–40 business days | Excellent | Very High |
This comparison gives you a clear idea of where each firm excels and how each one supports different types of healthcare organizations.
Top 10 Healthcare Valuation Firms in USA
Below are the top healthcare valuation firms in the United States.
Each one provides specialized experience in FMV compensation, healthcare transactions, regulatory compliance, or financial modeling.
The healthcare industry requires valuations that are defensible, well-documented, and aligned with federal regulations, so choosing the right partner is essential.
1. Virtue CPAs
Virtue CPAs is widely recognized as one of the strongest healthcare valuation firms in the United States.
They stand out because of their deep understanding of healthcare regulations, physician compensation structures, and the financial pressures that hospitals and medical groups face today.
Virtue CPAs focuses heavily on compliance, making their valuation reports reliable, data-driven, and defensible in audits or regulatory reviews.
Our team regularly works with hospitals, physician groups, ambulatory surgery centers, and healthcare organizations undergoing major transitions. We follow FMV standards aligned with Stark Law, the Anti-Kickback Statute, and IRS guidance, which helps clients stay compliant and avoid regulatory issues.
Our reports are known for being clear, detailed, and supported by benchmark data from trusted healthcare sources such as MGMA and AMGA.
Key Services
- FMV compensation valuations
- Physician practice valuations
- ASC valuations
- Healthcare business valuations
- Commercial reasonableness reviews
- Regulatory compliance advisory
- Financial modeling for healthcare transactions
Pros
- Strongest healthcare compliance focus
- Highly defensible FMV valuations
- Deep expertise with Stark and Anti-Kickback rules
- Excellent attention to detail
Cons
- Premium-quality service may cost more than basic valuation providers
- Limited availability during peak seasons due to demand
Ideal For
Healthcare organizations that want the highest-quality FMV valuations, strong regulatory compliance support, and expert analysis for physician compensation and healthcare transactions.
2. Eton Venture Services
Eton Venture Services provides advanced valuation services for healthcare companies, private equity investors, and technology-driven medical businesses.
They are known for their analytical approach and strong financial modeling capabilities. Eton’s valuation team uses data-driven methods and industry research to produce clear, well-supported FMV conclusions.
They serve a wide range of healthcare organizations, including physician practices, medical device companies, digital health startups, and life sciences firms.
Their valuations are often used for M&A transactions, financial reporting, compliance reviews, and strategic planning.
Key Services
- Healthcare business valuations
- FMV compensation analysis
- Transaction valuations
- Fairness opinions
- Financial modeling and forecasting
Pros
- Strong financial and technical modeling
- Excellent documentation
- Works well for fast-growing or data-heavy healthcare companies
Cons
- Less focused on traditional hospital or physician compensation arrangements
- Pricing can be higher for complex projects
Ideal For
Healthcare organizations that need sophisticated modeling or valuations for growth-stage or technology-focused businesses.
3. VMG Health
VMG Health is one of the most well-known healthcare valuation firms in the United States.
They have a long track record of working with hospitals, health systems, ASCs, and medical groups. VMG is highly respected for its healthcare compliance expertise, especially regarding Stark Law and Anti-Kickback Statute regulations.
Their valuation reports are widely used for physician compensation reviews, mergers and acquisitions, and strategic financial planning.
VMG Health is also known for its large library of healthcare industry research, which helps support strong and defensible FMV opinions.
Key Services
- FMV compensation valuations
- Business valuations for healthcare entities
- ASC valuations
- Hospital transaction valuations
- Compensation plan design and consulting
Pros
- One of the most respected firms in healthcare
- Strong expertise in FMV compensation
- Well-documented valuation processes
Cons
- Higher pricing compared to smaller firms
- Longer turnaround times during peak periods
Ideal For
Hospitals, ASCs, and large healthcare networks seeking expert-level FMV analysis and documentation.
4. HMS Valuation Partners
HMS Valuation Partners specializes in healthcare valuation and has decades of experience in FMV compensation and business valuation services.
They work with physician groups, hospitals, and medical practices, offering personalized support and deep industry insight.
HMS focuses heavily on regulatory compliance, making its valuations particularly useful for organizations that need clear documentation for physician contracts or operational agreements.
Key Services
- FMV physician compensation valuations
- ASC and imaging center valuations
- Healthcare business valuations
- Commercial reasonableness analysis
- Due diligence support
Pros
- Longstanding healthcare valuation experience
- Strong regulatory knowledge
- Personalized client service
Cons
- More traditional approach may mean slower processes
- Not ideal for large multi-entity health systems
Ideal For
Physician practices and small to mid-size healthcare groups needing reliable FMV and compensation guidance.
5. FTI Consulting
FTI Consulting is a global consulting firm with a strong healthcare valuation practice.
They focus on complex healthcare transactions, regulatory compliance, and detailed financial modeling. Their valuation team includes experts in finance, economics, and healthcare operations.
FTI works with hospitals, health systems, private equity firms, and large medical practices. Their valuations are often part of larger projects such as restructuring, acquisitions, or financial audits.
Key Services- Healthcare business valuations
- FMV compensation analysis
- Transaction and deal advisory
- Litigation and dispute support
- Financial modeling and forecasting
- Strong technical expertise
- Great for large or complex deals
- Extensive industry resources
- Premium pricing
- Best suited for larger organizations
Hospitals, PE firms, and large healthcare organizations needing advanced modeling and high-level valuation support.
6. HealthCare Appraisers, Inc.
HealthCare Appraisers, Inc. is a leading valuation firm dedicated exclusively to healthcare.
They have built a strong reputation for handling FMV compensation, business valuation, and commercial reasonableness assessments.
They frequently publish industry research and insights, making them one of the most trusted names in regulatory valuations. Their reports are highly detailed and often used in compliance and audit settings.
Key Services
- FMV compensation valuations
- Commercial reasonableness assessments
- ASC and hospital valuations
- Business valuations
- Litigation support
Pros
- Deep healthcare-only specialization
- Very strong compliance knowledge
- Excellent documentation
Cons
- Pricing may be above average
- High demand may stretch timelines
Ideal For
Healthcare organizations requiring highly specialized and compliance-driven valuation work.
7. Carnahan Group
Carnahan Group is known for its focus on FMV compensation, strategic planning, and healthcare transaction support.
They work with hospitals and physician groups across the country and have a strong understanding of physician compensation structures.
Their valuations are grounded in healthcare data and regulatory standards, and they offer consulting support for compensation plan design and alignment.
Key Services- FMV compensation valuation
- Physician practice valuation
- Healthcare transaction advisory
- Strategic planning support
- Strong specialization in physician compensation
- Clear and practical reports
- Good industry reputation
- More limited service offerings than larger firms
- Not ideal for very large systems
Hospitals and medical practices seeking straightforward compensation valuation and planning support.
8. HealthValue Group
HealthValue Group focuses on healthcare valuations for physician groups, ASCs, and healthcare organizations undergoing transactions or compensation reviews.
They offer a mix of financial analysis and industry-specific insights that help clients stay compliant.
HealthValue Group is known for being approachable and responsive, making the valuation process simple and clear.
Key Services:- FMV compensation valuations
- Physician practice valuations
- Business valuation
- Transaction advisory
- Strong FMV compensation experience
- Easy to work with
- Good fit for smaller organizations
- Not ideal for large, multi-entity systems
- Limited specialty for high-complexity transactions
Small to mid-size healthcare groups needing FMV or business valuation services.
9. BuckheadFMV
BuckheadFMV focuses heavily on FMV compensation valuations and commercial reasonableness reviews.
They have strong experience across physician compensation arrangements and hospital-provider relationships.
Their reports are detailed, compliant, and supportive of organizations that want to avoid Stark or Anti-Kickback risks.
Key Services
- FMV compensation analysis
- Commercial reasonableness
- Physician arrangement reviews
- Consulting and advisory
- Specialized in compensation-focused valuations
- Strong compliance orientation
- Clear documentation
Cons
- Limited business valuation services
- Less suitable for complex organizational deals
Ideal For
Hospitals and physician groups focused on FMV compensation compliance.
10. Deloitte Healthcare Valuation Services
Deloitte is one of the largest and most respected professional services firms in the world, and their healthcare valuation services are highly credible.
Their team handles complex healthcare valuations for hospitals, large medical groups, private equity firms, and healthcare corporations.
Deloitte’s depth of resources, access to data, and advanced modeling tools make them an excellent choice for organizations with large-scale or highly technical needs.
Key Services
- Healthcare business valuations
- Financial reporting valuations
- FMV compensation valuations
- M&A advisory
- Advanced financial modeling
Pros
- Global reputation and credibility
- Strong audit support
- Excellent for complex and high-value deals
Cons
- Premium pricing
- Best suited for large organizations
Ideal For
Hospitals, PE firms, and major healthcare networks needing premium, complex valuation support.
End Note
Choosing the right healthcare valuation firm is one of the most important steps you can take to protect your organization.
Whether you are analyzing physician compensation, planning a merger, valuing a physician practice, or reviewing an ASC, the quality of your valuation affects everything from compliance to financial performance.
A strong valuation helps you avoid regulatory risks, supports better decision-making, and gives you the confidence that your compensation and business arrangements are legally sound.
That is where Virtue CPAs becomes an excellent option.
Virtue CPAs offers healthcare organizations more than valuations. Our team provides the financial insight, compliance awareness, and strategic support needed to understand complex transactions and compensation structures.
If you want a clear, reliable healthcare valuation or need help understanding compensation, FMV, business value, or compliance requirements, reach out to Virtue CPAs to schedule your consultation and get expert support for your next healthcare valuation project.
Frequently Asked Questions
Jeet Chaudhary
Jeet Chaudhary serves as the Chief Operating Officer at Virtue CPAs, where he leads the firm’s Global Control Centre and oversees end-to-end operational excellence.
