Katie Tarr, CHFP, Senior Manager, Healthcare Valuation Services
Joined LBMC: 2013
Education and Background
Katie attended Capital University in Columbus, Ohio on a full scholarship, majoring in economics with minors in math and RTVF (radio, television and film). After graduating, Katie joined OhioHealth, a Columbus-based system of hospitals and healthcare organizations, as a financial analyst within the physician practice division, where she worked for five years. She was then promoted to manager of physician contracting, where she was responsible for managing over 550 physician employment agreements and assisting senior leadership in developing commercially reasonable (CR) compensation models and policies consistent with fair market value (FMV).
Before her husband’s job took them to Nashville, Katie was unaware Music City was a main hub for healthcare. But she soon discovered it was a great place to be, especially with her background. Katie was able to leverage her expertise in the healthcare industry into her current consulting role at LBMC.
Katie works in the Healthcare Valuation Services department under the Business Valuation and Litigation practice, where she primarily helps hospitals determine appropriate compensation to pay physicians for clinical, administrative and call coverage services. Federal regulations require compensation paid under arrangements between hospitals and physicians, or other healthcare entities in a position to refer patients to one another, be consistent with FMV and CR in the absence of referrals. With Katie’s healthcare industry background, she brings unique experience on the operational side. Her broad understanding of how C-suite clients think for their organizations has enabled her to serve them well on a daily basis.
Some of Katie’s favorite moments include helping her clients through challenges. “I love when I’m able to have conversations with a CEO, CFO or Vice President to explain something we’ve discovered or provide insight or analysis that helps them understand how they can do business more efficiently or structure something better. When you can explain something new to a client, and they understand it and make a decision based on that information, you feel you’ve really helped them — that’s what I get really excited about,” she says.
Why LBMC Stands Out
Katie says one of the best things about LBMC is our extraordinary client service and availability. If employees aren’t able to pick up the phone when a client calls, they follow up immediately when available. Katie’s department consistently receives client feedback regarding turnaround time and service. During a project, clients know they will be in constant contact regarding progress and timing, which is important in an increasingly competitive industry. “To be able to acquire and employ physicians is difficult and competitive, and understanding appropriate compensation is key,” Katie explains. LBMC fully understands the market and drivers of compensation and provides quick service allowing our clients to make decisions.
Unique Factors of Work Environment
The difference Katie has noticed within LBMC is the positive, collaborative, helpful culture. “We are all working together to serve our clients, to make the best product, and provide the best services,” says Katie. She has observed this in every employee LBMC hires, and it truly makes a difference.
What’s Keeping Your C-Suite Clients Up at Night
Katie mentions that one of the main stress points of her clients is turnaround time. “Sometimes having a valuation done is necessary in order to serve a patient – so that we are literally getting something done so that a patient can receive treatment by a physician,” says Katie. Often by the time clients formally engage her department on a project, the desired date of completion has already passed. In these situations, her group works quickly to meet the needs of clients to accommodate deadlines.
Katie and her husband have lived in the popular 12South neighborhood since 2014. During their free time, they can easily find something to do in their neighborhood, so they don’t have to leave too often! (A tip to visitors traveling to 12South — Katie recommends the salads at Frothy Monkey with a wine pairing.) When Katie and her husband do venture out, they love going to concerts and recently attended Needtobreathe and Ben Rector. And remember Katie’s minor in television and film? She has served as an extra in a few episodes of Nashville and a Love and Theft music video, as well as an audience member for CMT Crossroads and the Robin Roberts CMA special. Katie is also active in the community; her favorite charities are the Belmont University Community of Reformed University Fellowship and Nurses for Newborns of Tennessee.