James Vaughan is an Adjunct Associate Professor of Health Policy and Management at the NYU Wagner Graduate School of Public Service. He previously served as Managing Director and Shareholder at Cain Brothers, a boutique firm focused on health care services.
Vaughan leads the Board of Trustees of the Frost Valley YMCA, which is a non-profit, independent, year-round facility on 5,000 acres in the Catskill Park serving kids, school groups and other organizations, and families with resident camping, environmental education, and conferencing.
Vaughan received a B.A. in American History from Wesleyan University and earned an M.B.A. in Finance from Columbia Business School.
The overall goal of this course is to develop students’ skills in the financial analysis of key strategies for today’s health care organizations. To achieve this goal, we will (1) explore the drivers of value creation, valuation approaches, and differences in capital structures between not-for-profit and for-profit healthcare providers; (2) examine horizontal consolidation among not-for-profit and for-profit providers (mergers and acquisitions, joint ventures, and the like), and vertical consolidation between providers and payers; and (3) consider sources of financing, including private and public equity markets, taxable and tax-exempt financing sources, and the important roles played by real estate investment trusts and entities like the Federal Housing Agency. We will focus on a range of healthcare services, including acute care, post-acute care and senior health and housing, ambulatory surgery centers, behavioral health, and medical insurance companies.
Students participating in the course should have a basic understanding of nonprofit and for-profit financial statement analysis and an understanding of the time value of money and discounted cash flow analysis.