Health care transactions are rarely just about contracts and signatures. They involve layered regulatory requirements, business realities, and careful coordination among legal, operational, and valuation professionals. In a recent episode of AHLA’s Speaking of Health Law podcast, industry leaders discuss how attorneys can move beyond paperwork to provide practical, strategic value when navigating fair market value and health care transactions.
Episode Overview
The episode, titled Beyond Paperwork: Practical Insights for Navigating Fair Market Value and Health Care Transactions, features a conversation hosted by Rob Holland of HMS Valuation Partners with the following guests:
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Eric Neff, President, Neff Associates
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Ragini Acharya, Partner, Husch Blackwell
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Kyle Faget, Partner, Foley and Lardner
The panel shares real-world insights into how legal counsel can support complex healthcare deals by understanding the business context, anticipating compliance risks, and collaborating effectively with valuation experts.
Adding Value Beyond Legal Documentation
A key theme throughout the discussion is that effective health care attorneys do more than draft agreements. They act as business-minded advisors who understand their clients’ operational goals and financial constraints.
Eric Neff emphasizes the importance of lawyers engaging early in the deal process and participating in business discussions. By understanding the underlying objectives of a transaction, attorneys can help structure arrangements that are both compliant and workable.
Ragini Acharya highlights the need for clear communication and early identification of key stakeholders. When legal, operational, and financial teams are aligned from the outset, transactions move more efficiently and with fewer surprises.
Kyle Faget adds that attorneys must help clients assess and manage regulatory risk in a practical way. Rather than focusing solely on worst-case scenarios, counsel should guide clients toward informed decision-making that balances compliance with business realities.
Fair Market Value as a Compliance Cornerstone
Fair market value plays a central role in many healthcare arrangements, including physician compensation, consulting agreements, practice acquisitions, and other provider relationships. While attorneys are not responsible for determining fair market value, they are critical in advising when a valuation is needed and how it fits into the broader regulatory framework.
The panel stresses that fair market value is not just a formality. Regulators closely scrutinize whether compensation and financial arrangements reflect true market value and are not tied to referral volume or value. Engaging qualified valuation experts early can help avoid compliance issues and provide defensible support for transaction decisions.
Practical Takeaways for Health Care Counsel
The discussion offers several actionable lessons for attorneys involved in health care transactions:
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Develop a strong understanding of your client’s business and operational goals.
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Build relationships with valuation professionals and involve them early when appropriate.
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Communicate regulatory risks in clear, practical terms that connect to business outcomes.
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Focus on problem-solving and deal facilitation, not just document review.
Final Thoughts
This episode serves as a reminder that successful health care transactions depend on more than technical compliance. Attorneys who understand the business context, collaborate with valuation experts, and provide clear, practical guidance are better positioned to help clients navigate complex regulatory environments with confidence.
To hear the full discussion and gain deeper insight from the panelists, listen to the complete podcast episode here.
