Nicole Montanaro

Compensation Arrangements

Nicole Montanaro is a Director with VMG Health in the Compensation Division and is based in the Dallas, Texas office.

She specializes in providing valuation and consulting services for professional services agreements within the healthcare industry, and more specifically, related to the valuation of pay-for-performance arrangements, such as co-management, cost savings initiatives, hospital efficiency improvement programs and other physician alignment initiatives. Her expertise also includes air and ground ambulance/medical transport services agreement valuations related to all levels of service transports including specialty care transports, neonatal intensive care unit transports, and non-emergency medical transport services (wheelchair and stretcher vans).

She also specializes in the valuation of purchased services arrangements, such as administrative and non-clinical management functions, billing and collections, and development/pre-operations services. Specifically, Montanaro’s range of experience encompasses contractual relationships between a number of different types of entities, which include physician organizations, health systems, third party owner/operators, management service organizations, and joint ventures. Additionally, her extensive experience covers a variety of subindustries within the healthcare industry including hospitals (acute care and surgical/specialty), physician practices, ambulatory surgery centers, imaging, radiation and medical oncology, inpatient and outpatient rehabilitation, behavioral health, skilled nursing facilities, pharmacy, and home health/hospice.

Montanaro has spoken at various legal and healthcare organizations and has published articles regarding compensation valuation issues. She is also a member of the American Bar Association’s Healthcare Fraud & Compliance Interest Group, which addresses issues that are the focus of fraud and abuse prevention, investigations, and prosecutions.

Prior to joining VMG Health in 2013, Montanaro began her valuation career working for Hill Schwartz Spilker Keller LLC with a focus on estate, gift, and tax valuation for limited liability companies and family limited partnerships. Prior to that, she earned her Bachelor of Business Administration in Finance from Southern Methodist University in Dallas, Texas.

Sector Experience

Ambulatory Surgery Centers
Behavioral Health
Imaging & Radiology
Medical Transport
Physician Practices
Post-Acute Care
Urgent Care & Freestanding EDs

Areas of Expertise

Physician Compensation
Management & Administration Agreements
Value-Based Care

  • Presentation: “Structuring and Valuing Value-Based Care Arrangements: Quality vs. Shared Savings” – 23rd Annual Emerging Issues in Healthcare Law Conference, April 28, 2022
  • Presentation: “Hospital-Physician Alignment Strategies: Still Relevant After All These Years” – 18th Annual Health Law Symposium, April 21, 2022
  • Presentation: “Latest & Greatest in Hospital Pay-for-Performance” – Becker’s Hospital Review Annual Meeting, 2017
  • Presentation: “Horror Stories from the Field – Maintaining Balance to Get the Deal Done” – Healthcare Dealmakers Conference, 2017