BFMV partners shed light on fair market value (FMV) and business valuation considerations for the ambulance industry and emergency medical services (EMS) in a recent BVR webinar. The talk highlighted the unique aspects of these appraisals within highly varying markets under state-specific regulations and patchy city and county controls. The wide spectrum of agency sizes; service types; and management, funding, and fee structures are significant factors that affect business models and values among the vast field of providers. Additional variables to consider include supplier status, transport volumes and intensity, service area population density, ownership, service mix, staffing models, and response times.
Darcy Devine and Will Hamilton delved into comprehensive valuation approaches for EMS and ambulance through an array of case studies, noting multilayered topics surrounding CMS regulations and reimbursements. The CMS-ascribed categories of ground transport, and the pandemic-postponed Medicare Ground Ambulance Data Collection System were specifically addressed.
Compliance pitfalls and safeguards particular to EMS were also discussed, including:
Billing for services not provided
Billing for a higher level of services than what was provided
Billing for services that were not necessary
Paying kickbacks in exchange for business
Providing improper discounts or swapping