Optum, parent company of ASC chain SCA Health, is eyeing the acquisition of the physician-owned Corvallis (Ore.) Clinic, according to a Dec. 28 notice from the Oregon Health Authority.
Here's what ASCs need to know:
1. Corvallis Clinic, which operates 11 locations and an ASC, is the largest multispecialty medical group in the mid-Willamette Valley.
2. The clinic is expected to experience financial losses in the next 12 months, despite a 15% cut in the physician owners' compensation more than a year ago, according to the notice. The application projects the financial losses would push clinicians to seek employment elsewhere.
3. "The loss of physicians in the geographic service area would have a significant negative impact and result in decreased patient access and limit opportunities for health equity initiatives if the proposed transaction is not completed," the application, which is being reviewed by the Oregon Health Authority, stated. "The proposed transaction will significantly stabilize healthcare services in the area and improve economic conditions faced by the business."
4. Optum Oregon already provides services for three providers in the area — Eugene-based Oregon Medical Group, Portland-based GreenField Health and Salem-based OHR Physician Group.
5. Optum is the largest employer of physicians in the country, with 90,000 employed, contracted or aligned. Last year, the company added 20,000 physicians to its portfolio and inked three major physician deals.
6. Public feedback is being accepted until Jan. 18.
7. “The Corvallis Clinic and Optum share a strong commitment to providing patients with high-quality, local care with a focus on affordability and innovation," Optum said in a statement to Becker's. "We are excited to be coming together to expand upon the exceptional health care services provided by The Corvallis Clinic to patients in the Willamette Valley"