G. Don Barbo - CPA/ABV

Managing Director
Business Valuation, Litigation & Dispute Resolution

Don Barbo is a managing director with VMG Health. He specializes in healthcare business valuations involving mergers and acquisitions, divestitures, partnership transactions, leasing arrangements, divorces, commercial damages, and financial reporting. His extensive healthcare valuation engagements have included hospitals (acute care, long-term care, critical access, and surgical), physician practices (variety of primary care and hospital-based), ambulatory surgery centers, diagnostic imaging centers, cardiac catheter labs, pathology and clinical labs, cancer treatment centers, and dialysis centers. Mr. Barbo has also performed engagements for various contracts between hospitals and physicians, including medical director agreements, on-call agreements, lithotripsy service agreements, purchase services agreements, and management services agreements.

Mr. Barbo has spoken extensively to various legal and valuation organizations and has published articles regarding business valuation issues. He also serves as an expert witness in litigated matters for his clients, including testifying before the U.S. Tax Court.

Mr. Barbo has been performing healthcare valuations since 1998. Prior to his valuation career, he served as the chief financial officer for a physician practice management company that provides management services to a variety of physician practices. Before that, he served as the controller/financial officer for various emerging companies. He began his professional career as an auditor with an international accounting firm.

Mr. Barbo is a CPA, holds the Accreditation in Business Valuation from the AICPA, is a member of the Medical Group Management Association (MGMA), and a member of the Healthcare Financial Management Association (HFMA). He also serves on the Technical Advisory Board for the AICPA’s Forensics & Valuation Section Consulting Digest. He holds a BBA in Accounting from Texas Tech University, and an MBA from the Cox School of Business, Southern Methodist University.

  • Fair Market Value in Today’s Healthcare Transaction Environment: FMV’s Gone Wrong and the Government’s Attempts to Expand Liability, Co-Presenter, Texas Health Lawyers Association, Dallas, TX, November 28, 2017
  • Hospital Valuations: Insights and Perspectives, Co-Presenter, Business Valuation Review’s Webinar Special Series on Healthcare Valuations, November 11, 2017
  • Horror Stories from the Field – Maintaining Balance to Get the Deal Done, Co-Presenter, Healthcare Dealmakers Conference 10th Annual Meeting, Dallas, TX, May 17, 2017
  • Ways and Costs to Align: The Valuation of Physician Practices, Hospitals, ASCs and Other Healthcare Providers, Co-Presenter, Becker’s Hospital Review 8th Annual Meeting, Chicago, IL, April 18, 2017
  • Key Valuation Issues for Healthcare Leadership, Co-Presenter, Healthcare Financial Management Association Maryland Spring Conference, Annapolis, MD, March 13, 2017
  • Hot Legal and Valuation Issues For Transactions Between Health Systems and Physicians, Co-Presenter, Healthcare Financial Management Association Conference, Chicago, IL, December 13, 2016
  • Dancing Between the Raindrops: Managing Close Calls in Healthcare Acquisition Diligence and Documentation, Co-Presenter, Healthcare Deal Makers Conference, Dallas, Texas, May 26, 2016
  • Healthcare Consulting, Valuation and Compensation with Case Study, Co-Presenter, Financial Consulting Group University 2016, Atlanta, Georgia, May 24, 2016
  • Strategy: Thinking 5 Years Into the Future, Co-Presenter, Becker’s Hospital Review 7th Annual Meeting, Chicago, Illinois, April 28, 2016
  • Healthcare Industry Update Regarding Regulatory, Valuation and & Financing Trends, Co-Presenter, Alliance of Merger And Acquisition Advisors, Dallas, Texas, September 24, 2015
  • The Impact of Health Reform on the Valuations of Healthcare Provider Business Models, Moderator and Co-Presenter, Healthcare Dealmakers Conference, Dallas, Texas, May 28, 2015
  • Friend or Foe: Will Health Reform Improve or Destroy the Value of Hospitals and Other Providers?, Co-Presenter, Healthcare Financial Management Association Lone Star Chapter Spring Institute, Irving, Texas, May 15, 2015
  • How the Affordable Care Act Affects Healthcare Appraisals, Co-Presenter, American Society of Appraisers, Webinar professional continuing education course, February 12, 2015
  • Hospital Valuations in the Health Reform Era, Co-Presenter, Business Valuation Review’s Online Symposium on Healthcare Valuation series, July 31, 2014
  • Key Damages and Valuation Issues in Healthcare Litigation, Panelist, Healthcare Litigation Conference, McGuireWoods, Chicago, IL, April 8, 2014
  • Fair Market Value in Health Care Transactions: Advanced (and Thorny) Issues, Part III: Commercial Reasonableness in Contrast with Fair Market Value: What’s the Difference and Who Makes the Call?, Panelist, American Health Lawyers Association, Webinar March 6, 2014
  • Health Reform: Where are we? What’s next?, Speaker, Texas Association for Healthcare Financial Management Annual Fall Symposium, San Antonio, Texas, September 2013
  • Health Reform: Where are we? What’s next?, Speaker, Texas Association for Healthcare Financial Management’s Seminar Series: Keep Informed, The Hospital you Save May be Your Own, Dallas, Texas, June 2013
  • Hospitals Mergers & Acquisitions: Opportunities & Challenges, Instructor, Deloitte internal continuing professional education course, Dallas, Texas, May 2013
  • The Impact of Health Reform on Health Systems, Speaker, The Texas Insurance Institute Conference, Dallas, Texas, May 2013
  • The New Valuation Frontier: Fair Market Value in New Payment and Delivery Models: A Panel Discussion, Moderator, Southwest Healthcare Transactions Conference, Dallas, Texas, May 2013
  • The Ongoing Evolution of Physician Alignment Strategies, Co-Presenter, Webinar hosted by Deloitte Financial Advisory Services LLP and Winstead PC, May 2013
  • Challenges in Estimating Cost of Capital in Healthcare, Co-Presenter, Business Valuation Review’s Online Symposium on Healthcare Valuation webinar series, April 2013
  • Payer-Physician Alignment Strategies: Prevailing Legal, Valuation, and Industry Perspectives, Co-Panelist, American Bar Association Health Law Section webinar, January 2013
  • New M&A Accounting Rules for Not-for-Profit Entities: What Not-For-Profit Buyers Need To Know About The Changing Landscape, Co-Speaker, National Healthcare Industry Conference, American Institute of CPA’s, Las Vegas, Nevada, November 2012
  • Mergers & Acquisitions: An Outlook on Industry Trends for Healthcare Providers, Co-Speaker, Deloitte client webinar, November 2012
  • Navigating the Practice Acquisition Jungle: A Panel Discussion, Co-Panelist, Medical Office Today webinar, June 2012
  • The Future of Physician Practices: A Panel Discussion, Moderator, Southwest Healthcare Transactions Conference, Dallas, Texas, May 2012
  • Hospital Valuations in the Health Reform Era, Co-Presenter, Business Valuation Review’s Online Symposium on Healthcare Valuation series, February 2012
  • Hospital-Physician Alignment Strategies: A Legal and Fair Market Value Analysis, Co-Presenter, Healthcare Financial Management Association Lone Star Chapter 2012 Winter Institute, Irving, Texas, January 2012
  • Hospital Acquisitions of Physician Practices: A Legal and Fair Market Value Analysis, Co-Presenter, Dallas Bar Health Law Section, Dallas, Texas, May 2011
  • Positioning for Accountable Care: Strategic, Regulatory and Operational Considerations, Panelist, ACO Seminar, Deloitte LLP and Locke Lord Bissell & Liddell LLP, Chicago, IL, May 2011
  • Conference co-chair and moderator for panel discussions, including: Deal Surge: Strategics – Humana’s Acquisition of Concentra; and Accountable Care Organizations, Southwest Healthcare Transactions Conference, Dallas, Texas, April 2011
  • Healthcare Business Valuation & Financial Health under Health Reform – Focus on Providers, Co-Presenter, Dallas Bar Health Law Section, Dallas, Texas, April 2011
  • Physician Alignment: Achieving Strategic and Operational Value, Co-Presenter, Healthcare Financial Management Association (HFMA) Texas State Conference 2011, Austin, Texas, March 2011
  • Hospital Acquisitions of Physician Practices: A Legal and Fair Market Value Analysis, Co-Presenter, Hospitals and Health Systems Law Institute Conference, American Health Lawyers Association, Las Vegas, Nevada, February 2011
  • Transactions – Compensation and Valuation, Co-Presenter, Fulbright & Jaworski L.L.P.’s Seventh Annual Health Law Symposium, Houston, Texas, February 2011
  • Healthcare Reform: One Year After, Co-presenter, Business Valuation Review Webinar, January 2011
  • Healthcare Business Valuations Under Health Reform, Presenter, 2010 Business Valuation Conference, Missouri Society of CPAs, December 2010
  • Healthcare Reform and Its Impact on Valuation, Co-presenter, Business Valuation Review Webinar, June 2010
  • New M&A Accounting Rules Under SFAS 164 for Not-for-Profit Entities: What not-for-profit buyers need to know about the changing landscape, Co-Speaker, Southwest Healthcare Transactions Conference, Dallas, Texas, May 2010
  • Healthcare Reform Update, Keynote Speaker, Bernstein Investment and Research, Dallas, Texas, May 2010
  • BVR’s Healthcare Teleconference Series (Part 3 of 3): Valuation of Hospitals, Joint Ventures, and Clinical Co-Management Arrangements, Co-presenter, Business Valuation Review Webinar, December 2009
  • Is There A Doctor in the House? Practical Solutions to Making the Correct Diagnosis in a Healthcare Industry Valuation, Co-presenter, AICPA National Business Valuation Conference, San Francisco, California, November 2009
  • “Emerging Issues & Trends in Medical Practice Valuations”, Speaker, North Texas Healthcare Compliance Professional Association, Dallas, Texas, November 2009
  • Healthcare Valuations in the Current Challenging Environment, Speaker, Pennsylvania MGMA & ACHE of Western Pennsylvania: 2009 Practice Operations Conference, Pittsburgh, Pennsylvania, July 2009
  • The Art and Science of Communicating Value in Healthcare Transactions, Co-Speaker, Southwest Healthcare Transactions Conference, Las Colinas, Texas, May 2009
  • Healthcare Valuation for Transaction Purposes, Co-presenter, AICPA Webinar, March 2009
  • Building Value In & Making Financial Decisions For Your Medical Business, Speaker, The National Association of Portable X-Ray Providers, Orlando, Florida, October 2008
  • Current Events in the Dynamic World of Healthcare Valuations, Co-presenter, AICPA/ASA National Business Valuation Conference, Las Vegas, Nevada, November 2008
  • An Update of Key Healthcare Regulatory Issues and their Impact on Valuations, Co-Speaker, Southwest Healthcare Transactions Conference, Las Colinas, Texas, May 2008
  • Building Value in Your Medical Practice, Speaker, The American Society of Breast Surgeons, New York, New York, April/May 2008
  • Healthcare Valuation: The Insiders Edge, Panelist, National Teleconference, Business Valuation Resources, February 2008
  • Healthcare Valuation Developments, Challenges and Solutions in 2007, Panelist, AICPA National Business Valuation Conference, New Orleans, Louisiana, December 2007
  • Working with the IRS, Financial Consulting Group Fall Conference, New Orleans, Louisiana, December 2007
  • Healthcare Valuation and the Impact of Recent Court Cases, Panelist, National Teleconference, Business Valuation Resources, February 2007
  • 2006 Healthcare Valuation Update: Trends & Transactions, The Austin Bar Association – The Health Law Section, October 2006
  • 2006 Healthcare Valuation Update: Trends & Transactions, The Dallas Bar Association – The Health Law Section, September 2006
  • The Valuation of Privately Held Businesses, Austin Bar Association’s Business, Corporation and Tax Law Section, Austin, Texas, November 2005
  • Medical Practice Valuations in Changing Times: A Discussion of Key Events and Market Trends Involving Physicians, Their Practices, and the Valuation of Their Business Interests, Doctors’ Referral Service of North Texas, Dallas, Texas, October 2005
  • Medical Practice Valuations in Changing Times: A Discussion of Key Events and Market Trends Involving Physicians, Their Practices, and the Valuation of Their Business Interests, Client Conference Co-Sponsored by Bernstein Investment Research and Management and Hill Schwartz Spilker, Keller, LLC, Dallas, Texas, September 2005
  • Valuation Services in Litigated Matters: A Discussion of the Nature, Requirements, and Common Challenges Regarding Expert Valuation Services, 2005 Valuation Symposium, HCAPS, Nashville, Tennessee, May 2005
  • Healthcare Partnerships: Trends, Opportunities, and Pitfalls. Baker & McKenzie Law Firm (in-house presentation involving multi-offices), February 2005
  • Current Valuation Trends and Hot Topics in Healthcare Partnerships, The Dallas Bar Association – The Health Law Section, January 2005
  • Ambulatory Surgery Center Partnerships: Current Events and Valuation Issues, Hughes & Luce law firm (in-house presentation involving multi-offices), November 2004
  • Ambulatory Surgery Centers: Industry Update and Valuation Issues, Locke Liddell & Sapp law firm (in-house presentation involving multi-offices), November 2004
  • Ambulatory Surgery Center Partnerships: Discussion of Business Model and Current Events, Vinson & Elkins law firm, (in-house presentation involving multi-offices), November 2004
  • Topic entitled “Ambulatory Surgery Center Partnerships: A Great Business Opportunity or Doomed Business Model?”, 2004 American Society of Appraisers National Advanced Business Valuation Conference, San Antonio, Texas, October 2004
  • Topic entitled “The Anatomy of a Medical Practice Valuation”, 2004 Financial Consulting Group Annual National Business Valuation Conference, Houston, Texas, September 2004
Areas of Expertise
  • Business Valuation & Transaction Advisory
  • Litigation & Dispute Resolution
Affiliations
  • American Health Lawyers Association
  • Medical Group Management Association
  • Healthcare Financial Management Association
  • American Institute of Certified Public Accountants
Credentials
  • Certified Public Accountant (CPA)
  • Accreditation in Business Valuation (ABV)