Issue link: https://beckershealthcare.uberflip.com/i/1456545
44 HEALTHCARE NEWS CVS launches 'Health Zones' initiative By Naomi Diaz C VS has launched "Health Zones," a collaborative initiative with local nonprofits and Uber Health to get people to medical appointments, work and educational programs, according to AZ Family, Fox61 and CBS46. "It's essentially a way to really wrap around those affordable housing units and focus in that ZIP code with wonderful, on-the-ground nonprofit partners who are keeping us abreast of all the issues and opportunities and gaps that these folks are facing," Eileen Boone, se- nior vice president of corporate social respon- sibility and philanthropy at CVS, told CBS46. CVS' Health Zone is a five-year program set to launch in five markets: Atlanta; Phoenix; Fresno, Calif.; Columbus, Ohio; and Hart- ford, Conn. Nonprofits in each market have already re- ceived funding from Health Zone invest- ments. In Phoenix, CVS donated $280,000 to four nonprofits: Valleywise Health Foundation, Banner Health Foundation, St. Mary's Food Bank and UMOM New Day Centers, AZ Family reported Jan. 29. In Atlanta, CVS provided funds to five non- profits: Atlanta Community Food Bank, Open Hand Atlanta, anks Mom and Dad Fund, the Family Health Centers of Georgia and Good Samaritan Health Center, CBS46 reported Jan. 29. In Hartford, CVS invested $265,000 in five nonprofits: Charter Oak Health Center, Chrysalis Center, Connecticut Food Bank and Foodshare, KNOX, and YWCA Hart- ford, Fox61 reported Jan. 19. In Fresno, CVS invested $300,000 in three nonprofits: Central California Food Bank, Clinica Sierra Vista and Fresno Economic Opportunities Commission, CVS told Beck- er's via email. In Columbus, CVS donated $260,000 to five nonprofits: PrimaryOne Health, Mid-Ohio Food Bank, Local Matters, Eckerd Connects and Columbus State Community College, CVS told Becker's via email. e Health Zones initiative works with local partners to advance health equity in under- served communities. n Florida physician group gets $500M investment: 4 details By Laura Dyrda A large physician group in Florida landed a multimillion dollar investment to accelerate growth. Four details: 1. Physician Partners, a primary care physician group and managed service organization with more than 545 physician members, got a $500 million investment Feb. 1. 2. Kinderhook, a private investment firm man- aging more than $4.7 billion of committed capital, led the investment, the company's 51st healthcare transaction. 3. Physician Partners focuses on providing value-based care and aligning with payers for risk-based arrangements. 4. Other financial terms of the agreement were not disclosed. n California bill would give physician owners power over private equity By Marcus Robertson A bill under consideration in the California State Legislature could put power in the hands of physician owners of physician practices, JDSupra reported Jan. 27. California Senate Bill 642 would, if enacted, restrict the use of the stock restriction agreement and similar arrangements used in the "friendly professional corporation" model, the report said. The model is often used in California by hospital systems and private equity firms as a way to have control over physician groups' operations without violating the state law that prohibits the corporate practice of medicine. Under the model, the health system or private equity firm owns the non-clinical assets and leasehold interest of the practice and operates the day-to-day non-clinical functions of the practice, including negoti- ating payor contracts, billing and collecting. The stock restriction agreement, also known as a succession agree- ment, restricts the sale, transfer or exchange of ownership interest in the practice. Any such action must be approved by the health system or private equity firm, ensuring the practice has a continuous and close tie to its controlling entity. SB 642 would restrict such agreements, shifting management and control of medical practices to its physician owners, shareholders and directors, the report said. It would also prohibit the practice's share- holders and leadership from being replaced, removed or controlled by any lay entity. n