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The Valuation of Intangible Assets in the Absence of Positive Net Cash Flows

 The Valuation of Intangible Assets in the Absence of Positive Net Cash Flows
CPE Credit

Program Type: Recorded Webinar (Audio, PPT)
Program Level: Intermediate
Prerequisites: Previous training or research on subject matter being taught.
Advanced Preparation: None
Delivery Method: Group Internet-Based
CPE Credits: Two (2) Hours
Fields of Study: Business Management & Organization; Economics
Item Number: 16PBV1108
Shipping Weight: 0lbs. 0oz.
Price: $110.00
Program Description

This webinar will discuss the issue of assigning value to intangible assets of physician practices and how these intangible assets may have value even in the absence of the enterprise having a positive net cash flow. The webinar will address, among other topics: (1) the economic benefits that may exist from the ownership of healthcare intangible assets; (2) the recognition of the value of intangible assets by bankruptcy law; and, (3) how the avoidance of an economic cost is equivalent to an economic benefit.

Learning Objectives

After completing this webinar, attendees will be able to:

- Explain why intangible assets may have value in the absence of positive net cash flows
- Differentiate between the contrasting viewpoints surrounding the issue of assigning value to intangible assets of physician practices
- Define and articulate the principle of “highest and best use” when valuing intangible assets

Who Should Attend

Appraisers, healthcare consultants, attorneys, and hospital and health system c-suite executives (e.g., CEOs, CFOs, COOs)


Robert James Cimasi, MHA, ASA, FRICS, MCBA, AVA, CM&AA
Mr. Robert James Cimasi serves as chief executive officer of Health Capital Consultants, a nationally recognized healthcare financial and economic consulting firm headquartered in St. Louis, MO, serving clients in 49 states since 1993. Mr.
Cimasi has over 30 years of experience in serving clients, with a professional focus on the financial and economic aspects of healthcare service sector entities including valuation consulting and capital formation services; healthcare industry
transactions, including joint ventures, mergers, acquisitions, and divestitures; litigation support and expert testimony; and certificate-of-need and other regulatory and policy planning consulting.

Mr. Cimasi is a nationally known speaker on healthcare industry topics and the author of numerous peer-reviewed articles,
chapters in legal treatises and anthologies, and nationally published books, including: Healthcare Valuation: The Financial Appraisal of Enterprises, Assets, and Services (2014; John Wiley & Sons); Accountable Care Organizations: Value Metrics and Capital Formation (2013; Taylor & Francis); and his most recent book, The Adviser’s Guide to
Healthcare—Second Edition (2015; AICPA).

He served on the editorial board for the Business Appraisals Practice of the Institute of Business Appraisers (IBA), of which he is a member of the College of Fellows; and currently serves on the National Association of Certified Valuators
and Analysts’ (NACVA’s) The Value Examiner editorial board. In 2006, Mr. Cimasi was honored with the prestigious “Shannon Pratt Award in Business Valuation” conferred by the IBA, and in 2011, named a Fellow of the Royal Institution
of Chartered Surveyors. In 2016, Mr. Cimasi was named a “Pioneer of the Profession” as part of the recognition of the NACVA “Industry Titans” awards, which distinguishes those whom have had the greatest impact on the profession.

Todd Zigrang, MBA, MHA, ASA, FACHE
Mr. Todd A. Zigrang is the president of Health Capital Consultants, where he focuses on the areas of valuation and financial analysis for hospitals, physician practices, and other healthcare enterprises. Mr. Zigrang has over 20 years of experience providing valuation, financial, transaction, and strategic advisory services nationwide in over 1,000 transactions and joint
ventures involving: acute care hospitals and health systems; physician practices; ambulatory surgery centers; diagnostic imaging centers; accountable care organizations, managed care organizations, and other third-party payors; dialysis
centers; home health agencies; long-term care facilities; and numerous other ancillary healthcare service businesses. Mr. Zigrang is also considered an expert in the field of healthcare compensation for physicians, executives, and other

Mr. Zigrang is the co-author of The Adviser’s Guide to Healthcare—Second Edition (AICPA; 2015), numerous chapters in legal treatises and anthologies, and peer-reviewed and industry articles, such as: The Accountant’s Business Manual
(AICPA); Valuing Professional Practices and Licenses (Aspen Publishers); Valuation Strategies; Business Appraisal Practice (IBA); and QuickRead (NACVA). Additionally, Mr. Zigrang has served as faculty before professional and trade
associations, such as: the American Bar Association; the American College of Healthcare Executives; the NACVA; the IBA; the Healthcare Financial Management Association; and the CPA Leadership Institute.