Testimony of Regan Parker
CEO, Association for Responsible Healthcare Investment
Before the Oregon Legislature – Expert Panel on SB 951
April 29, 2025
Chair Nosse, Members of the Committee:
Thank you for the opportunity to be with you today. My name is Regan Parker, and I serve as the CEO of the Association for Responsible Healthcare Investment. We are a coalition of responsible investors dedicated to supporting high-quality, patient-centered healthcare across the country. Every member of our organization agrees to a set of core principles that focus on ethical practices, transparency and patient centered care.
Let me start by stating very clearly – we fully share your commitment to ensuring that clinical decisions remain with licensed medical professionals. Patients deserve care that is guided by doctors and nurses—not by business pressures.
The complexities of running a healthcare practice are becoming increasingly more difficult to navigate. There are pressures coming from a multitude of sources, and often private investment is what allows practices to remain open. In Oregon, and in other communities across the country, private investments have supported the opening of new urgent care centers, specialty clinics, and telehealth programs that provide access for patients who otherwise might have to wait months for care or drive hours to find a provider.
Private investment plays a critical role in sustaining and improving healthcare, particularly at a time when workforce shortages, rising costs, and evolving patient needs are placing tremendous strain on healthcare organizations. Private capital enables practices—especially independent and community-based practices—to modernize their operations, invest in technology, expand access to underserved communities, and support healthcare workers through better training and development.
We believe that there are ways to curtail the bad acts that lawmakers and communities are concerned about without stifling the critical investments that enable innovation and access that Oregon’s healthcare system desperately needs.
The stated purpose of the bill makes sense, and we support keeping the doctor – patient relationship separate from business interests. The challenge is always in the details of how this is accomplished and the potential unintended consequences of the language. This bill has already undergone several rounds of amendments, trying to get it to a place where it balances the intention of the bill sponsors and the concerns from those in the industry.
We are still concerned, however, that certain provisions in the amended version of SB 951 could unintentionally discourage responsible investments in Oregon’s healthcare system. In particular:
- The restrictions on management arrangements could make it difficult for practices to access the administrative, technological, and financial support they need to stay viable—especially in rural and underserved areas. Doctors and nurses do this work to impact patients, not necessarily to run a business. If they have access to technology or processes that make operating their business easier, they can focus more on delivering patient care- which is what we all care most about.
- The broad classification of violations under the Unlawful Trade Practices Act could create uncertainty and liability risks even for responsible investors acting in good faith. These measures would risk discouraging the partnerships and private sector support needed to expand access to care. Additional compliance costs and other requirements could especially impact independent practices, physician groups, and clinics that already face tight margins as they serve high-need populations. This could deter the types of partnerships that strengthen Oregon’s healthcare system.
- Rather than fostering access and innovation, these kinds of proposals could create a chilling effect on responsible investments that help grow healthcare services and strengthen rural infrastructure.
We respectfully suggest that any reforms in this area balance two important goals:
- First, preserving and reinforcing the autonomy of licensed medical professionals in clinical decision-making—which we strongly support.
- Second, maintaining a framework that allows responsible investment to continue expanding access to care, improving infrastructure, and supporting innovation across Oregon.
Concerns about oversight are certainly justified. Recent examples of exploitation and mismanagement by bad actors have created reasonable questions around the influence of certain private capital investors in our healthcare system. However, private investment, done responsibly and transparently, can be a vital tool for enhancing—not undermining—patient care. We would welcome the opportunity to work with you on thoughtful approaches that protect patients and providers while allowing Oregon’s healthcare system to thrive.
Thank you again for the opportunity to appear today, and I am happy to answer any questions.