Katie Tarr, CVA, FHFMA, Shareholder, Healthcare Valuation Services

Joined LBMC: 2013

Education and Background

Katie attended Capital University in Columbus, Ohio on a full scholarship, majoring in economics. After graduating, Katie joined OhioHealth, a Columbus-based system of hospitals and healthcare organizations, as a financial analyst within the physician practice division. She was then promoted to manager of physician contracting, where she was responsible for managing 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 role at LBMC.

Current Role

Katie helps lead the Healthcare Valuation Services department under the Business Valuation and Litigation practice, where she primarily advises healthcare entities on 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 daily.

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, in a way that is understandable and actionable, and they then decide 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 can’t 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, and 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 primary stress points of her clients is turnaround time, particularly when there’s an urgent need. Often by the time clients formally engage her team on a project, the desired date of completion has already passed. When a valuation is the only step left in the contracting process, her group works quickly to meet the needs of clients to accommodate deadlines. “When a delay in an opinion could lead to a delay in patient care, that’s when we can really step in and make a difference,” says Katie.

Community

Katie is active in the community and serves as Immediate Past Chair of the Advisory Board for Nurses for Newborns of Tennessee, an organization that sends RNs into the homes of at-risk babies to provide health assessments, education and positive parenting skills in effort to prevent infant mortality and child abuse/neglect. Katie is also on the Board of Directors for Leadership Health Care and the Tennessee Healthcare Financial Management Association (HFMA). Katie and her husband, a professor at Belmont University, are active at Belmont and support students through involvement with campus Faith Development Organizations. They also support local organizations including Preston Taylor Ministries, McKissack Middle School and Charis Ministries through their church.

Personal

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 for dinner – delicious and there’s never a line!) When Katie and her husband do venture out, they love going to local events and concerts. They recently attended Edible Nashville’s Farm Dinner in the City and saw Sheryl Crow at the Ryman.