Thomas A. Warrington, Jr., CVA

Managing Director

Thomas A. Warrington, Jr. is a Managing Director in the Professional Service Agreements Division at VMG Health and is based in the Nashville office. He specializes in providing valuation and consulting services for professional service arrangements within the healthcare services industry.

Specifically, his areas of expertise are valuations for professional services including call coverage, clinical compensation, physician administrative and executive services, administrative management, billing and collection services, and subsidy coverage. Clients include for-profit and not-for-profit health systems and other public and privately held healthcare entities.

Prior to joining the Professional Services Agreements Division, Warrington worked in VMG Health’s Business Valuation Division where he provided valuation services for transaction purposes. Businesses valued included acute care hospitals, specialty and/or surgical hospitals, ambulatory surgery centers, diagnostic imaging centers, and physician practices, among others. Warrington holds a Bachelor of Business Administration in Finance from Tennessee Technological University. He is designated as a Certified Valuation Analyst (CVA) and is a member of the National Association of Certified Valuators and Analysts (NACVA) and Financial Consulting Group (FCG).

Todd J. Sorensen is a Managing Director at VMG Health. He specializes in providing valuation and transaction advisory services to the firm’s healthcare clients. He has acted as financial advisor in transactions with physician groups, acute care hospitals, urgent care and free-standing emergency rooms/departments, home health and hospice, inpatient rehab, inpatient behavioral health, Medicare Advantage plans, imaging centers, radiation therapy (including proton therapy), ambulatory surgery centers, home health agencies, and physical and occupational therapy centers.

Sorensen has also assisted buyers and sellers with purchase price allocations including intangible asset and personal goodwill valuations for tax planning.

Prior to joining VMG Health, Sorensen was with the Financial Advisory Group of Ernst & Young. Sorensen helped play an integral role in the development of healthcare valuation services. He has assisted in the development of financial tools that allow clients to make better decisions concerning efficient deployment of capital. Sorensen holds an MBA degree and is designated as a Certified Valuation Analyst (CVA).

Victor H. McConnell is a Managing Director in VMG Health’s Real Estate Services division and is based in the Denver office.  He has real property valuation & consulting experience in 42 of the United States, including extensive experience with the valuation of healthcare related properties.

McConnell has provided Fair Market Value and Fair Market Rent analyses to a variety of hospitals, physician groups, for-profit and non-profit health systems, as well as corporate and governmental clients.  McConnell has also provided appraisals and valuation-related consulting services to REITs, lenders, and private equity firms to assist with risk assessment and due diligence. In addition, he has experience with issuing commercial reasonableness opinions and is well versed in the regulatory nuances specific to the healthcare real estate sector. Consulting services performed by McConnell include constructing frameworks to assist with leasing compliance programs as well as profits distribution between equity partners in new developments.

Specific property types McConnell has analyzed include acute care hospitals, cancer clinics, on and off campus medical office buildings (MOBs), ambulatory surgery centers (ASCs), diagnostic imaging centers, dialysis facilities, proton therapy centers, sleep labs, cath labs, seniors housing projects, low-income housing tax credit (LIHTC) projects, independent living facilities (ILFs), assisted living facilities (ALFs), skilled nursing facilities (SNFs), continuing care retirement communities (CCRCs), biomanufacturing facilities, surgical hospitals, micro-hospitals, rehab hospitals (IRFs), long term acute care hospitals (LTACHs), psychiatric facilities, hospice wings, laboratories, physical therapy clinics, and drugstores. McConnell’s valuation experience also includes “zero cash flow” properties, corporate headquarters, and a variety of other commercial assets.

McConnell graduated from Dartmouth College in 2004 and began his valuation career with a boutique commercial real estate firm in 2006.  He has an MAI designation from the Appraisal Institute, an ASA designation from the American Society of Appraisers, and a CRE designation from the Counselors of Real Estate.

McConnell presents regularly at healthcare real estate industry conferences, and was selected as an Emerging Leader in Healthcare Real Estate in November 2015 by Globe Street. He has published in venues such as AHLA, ABA, and Becker’s Hospital Review. Clients served include six of the ten largest for-profit health systems and seven of the 15 largest non-profit health systems.

Wayne Pryor is a Managing Director in VMG Health’s Financial Due Diligence division in the Nashville office. He has over 30 years of experience in the healthcare industry, with a focus on transaction services. Pryor has worked on over 450 buy-side and sell-side transactions in every sub-sector of the industry, ranging from $1 million to $10 billion deals.

Prior to joining VMG Health, Pryor was a Partner and Head of Mazars’ Healthcare Transaction Advisory Services division and was a Managing Director in a large national accounting firm’s Transaction Services Practice where he focused on the healthcare sector. He has also held roles at a Big 4 accounting firm; was the Director of Planning, Analysis and Decision Support Systems for the Mayo Clinic and St. Luke’s Hospital in Jacksonville, Florida; was Corporate Controller for Sterling Healthcare Services; was Finance Director for Baptist St. Vincent’s Health System; and was Contract Administrator/Senior Financial Analyst for Cigna HealthCare.

Pryor received his bachelor’s in accounting from Western State College and attended the University of Arizona, where he pursued a master’s in public administration. He is also a Certified Public Accountant (CPA).

Bartt B. Warner is a Managing Director in the Compensation Division at VMG Health and is based in the Nashville office. His focus is on providing valuation, consulting, and advisory services for compensation arrangements within the healthcare services industry.

Warner has particular expertise in arrangements for clinical services, on-call coverage, medical director and physician executive services, coverage arrangements, management services, graduate medical education, and quality initiatives. Clients include for-profit and not-for-profit health systems, academic medical centers, and other publicly owned and privately held healthcare entities. Warner started his career at VMG Health in the Business Valuation Division where he provided valuation services related to hospitals, ambulatory surgery centers, diagnostic imaging centers, single and multi-specialty physician practices, and cancer treatment centers, among others.

He holds the Certified Valuation Analyst (CVA) designation from the National Association of Certified Valuators and Analysts (NACVA). In addition, he has been published in the NACVA QuickRead, Becker’s Hospital Review, the American Health Law Association, and the Health Care Compliance Association.

Warner has also presented at the American Health Law Association, Healthcare Financial Management Association, the University of California, Johns Hopkins Medicine, and the NACVA. He currently serves as the Chair for American Health Law Association’s Fair Market Value Affinity Group.

Britt Martin is a Director in the Professional Services Agreement division and is based in the Dallas office. She specializes in a wide variety of agreements and agreement structures including: clinical compensation, on-call coverage compensation, medical director/physician executive compensation, management fees, billing and collection fees, and quality incentive compensation.

Martin graduated from the Dedman College of Humanities and Sciences at Southern Methodist University with a bachelor’s degree in economics. Martin is a Chartered Financial Analyst (CFA) Charterholder through the CFA Institute and a Certified Valuation Analyst (CVA) through the National Association of Certified Valuators and Analysts. She is also pursuing the Accredited Senior Appraiser designation through the American Society of Appraisers.

Carlos Flores-Rodriguez is a Director in the Capital Asset Services division at VMG Health and is based in the Dallas office. Flores-Rodriguez has experience in providing asset valuations related to financial reporting, purchase price allocation, normal useful life studies, and equipment lease and timeshare arrangements. Healthcare clients served by Flores-Rodriguez have included ambulatory surgery centers, imaging centers, acute care hospitals, cardiac cath labs, sleep labs, and pharmacies.

Flores-Rodriguez graduated magna cum laude from Suffolk University as a Griffin Honor student with a Bachelor of Business Administration in Finance and Information Systems/Operation Management, with honors in finance. Flores-Rodriguez is an Accredited Senior Appraiser (ASA) with the American Society of Appraisers.

Clark Wilson is a Director at VMG Health and is based in the Dallas office. He specializes in providing valuation and transaction advisory services to businesses within the healthcare services industry. Wilson’s experience spans numerous healthcare subindustries. He has significant experience with ambulatory surgery centers, physician groups, diagnostic imaging centers, cancer centers, and urgent care centers. He also has experience with valuation issues related to branding arrangements, intellectual property, and software licensing.

Wilson holds a Bachelor of Business Administration in Finance from Texas A&M University. He is designated as a Certified Valuation Analyst (CVA) from the National Association of Certified Valuators and Analysts. He is currently pursuing the Chartered Financial Analyst designation from the CFA Institute (CFA).

Colin Park is a managing director at VMG Health and is based in the Dallas office. His focus has been on developing client relationships and providing valuation, transaction advisory, and operational consulting services in the healthcare services industry. Specifically, Park has significant experience with the acute care and specialty hospital, ambulatory surgery center, oncology center, diagnostic imaging center, dialysis center, physicians group, and numerous other ancillary healthcare service business segments. In addition to the extensive valuation experience for transaction planning and financial reporting purposes, he has consulted on numerous development, feasibility, and denovo business development engagements. Clients include for-profit and not-for-profit health systems, ancillary services providers, development companies across several healthcare industry sub-specialties, and other publicly owned and privately held healthcare entities.

Prior to joining VMG Health, Park worked as a senior associate in the Planning and Financial Group at Greystone Communities, Inc. He also previously worked as an analyst in the Tangible Asset Group in Financial Advisory Services at Houlihan Lokey.

Park received a Bachelor of Business Administration in Accounting, a Certificate in International Business and a Master of Real Estate Finance degree from the Mays Business School at Texas A&M University. He is a licensed Certified Public Accountant (CPA) in the state of Texas, an Accredited Senior Appraiser (ASA) with the American Society of Appraisers, and holds the Accredited in Business Valuation (ABV) designation.

Debra Rossi is a Director in the Coding, Compliance, and Operational Excellence division. She has over 30 years of healthcare revenue cycle and coding experience spanning academic medical centers, community hospitals, faculty practice plans, and large private practices. She has consulting experience in all areas of practice management and is a recognized industry expert in the area of coding, compliance, and revenue cycle.

Rossi conducts educational and training seminars and has overseen comprehensive coding and compliance programs at several of New York’s leading healthcare institutions. She also has a successful record with development and implementation of revenue integrity programs, denial management, and risk adjustment (HCC coding).

Rossi is the recipient of the 2016 Health Ethics Trust Best Practice Award. She is also a co-inventor of a patent pending, award winning coding tool focused on risk diagnosis coding identification and improvement.

Sector Experience

Ambulatory Surgery Centers
Hospitals
Hospital-Based Medicine
Imaging & Radiology
Oncology
Physician Practices
Urgent Care & Freestanding EDs

Areas of Expertise

Fair Market Value Opinions
Physician Compensation
Management & Administration Agreements