LAKE OSWEGO, Ore.--(BUSINESS WIRE)--Today, Health Professionals Alliance Inc. (HPA) announced Kate Othus as CEO. HPA is a services company that specializes in supporting independent doctors. Othus previously held the position of President.
Othus joined the company in January 2020. As a founder of a software company previously, she brought with her DataDx, a cloud-based software solution that provides real-time advanced analytics specifically for independent practice owners. This advanced analytics platform is a core offering of HPA. Together, with software and services, these two organizations help independent physicians and dentists achieve revenue and cost-of-care goals without ever compromising the quality of care.
HPA’s offer arrives on the scene just as job dissatisfaction trends plague physicians and dentists, and industry consolidation is trending at a rapid pace. Private healthcare practice acquisition by hospital groups and private equity firms is stripping doctors and consumers of choice.
“HPA is in a position to offer an effective alternative and help private practices flourish,” said HPA CEO, Kate Othus. “It is my goal that we build a future generation organization that aligns with and engages doctors into a large-scale regional alliance across the country, and allows doctors to focus on improving the health of the patients they serve.”
The national Medical Group Managers Association recently honored Othus with its Extraordinary Leaders Recognition. Her experience as a CEO in healthcare administration and as a technology founder will be an asset in her position as CEO of HPA.
“Othus has a track record of being a systems thinker and solving for the big picture,” said Eric Schulz, president of Consulting Services, HPA and adjunct professor at Oregon Health Sciences University (OHSU). “Her experience working side-by-side with physicians has allowed her to identify solutions that will bolster independent practices in innovative ways doctors are often too focused and busy to notice.”
HPA also announced that Roy Rose, previously CEO, will serve as Executive Chairman. Other recent organizational changes include the hiring of Scott Bishop, as general counsel, two new regional directors, and a new regional manager to start in October. The company is also actively recruiting a CFO. Kelly Neil is one of the newest additions to the team, joining as associate administrator.
HPA has created a service-based healthcare company where doctors not only enjoy discounted essential services and a cutting-edge data analytics dashboard, but they have the opportunity to be shareholders through a practice equity program that allows doctors to unlock the equity in their practice without having to sell to large healthcare systems or investors.
Later this month, the company will open its third private placement, the Champion Round, to accredited investor dental and medical private practices. The company has raised more than $31M in placements to 40 private practices to date. Medical and Dental providers currently within HPA’s extended network total over 3,000 medical and dental professionals as of July 2021. Private practice owners interested in exploring investment in the Champion Round should contact Brendon Lundberg, HPA, at brendon@hpamembers.com.
About HPA
Founded in 2018, Health Professionals Alliance provides a suite of personal and professional services intended to empower and preserve the independent doctor. This alliance employs a holistic approach to growth that helps doctors focus on what they do best, caring for their patients. For more information, visit hpamembers.com.
Securities Disclaimer
Any offer may be made only to accredited investors through the authorized Private Placement Memorandum that contains important information about the investment, business, management, and certain risks. Health Professionals Alliance Inc. is not a registered broker-dealer, investment company, investment advisor or crowdfunding portal and does not engage in any conduct requiring such registrations.
The securities offered through the Private Placement Memorandum will be offered pursuant to the exemption from registration under the Securities Act of 1933, as amended pursuant to Rule 506 (c) under Regulation D promulgated by the Securities and Exchange Commission (“SEC”). All prospective investors must certify that they are accredited investors, and provide either supporting documents or third-party verification, eligible for this type of illiquid investment, and must acknowledge that they have received and read all investment materials. There can be no assurance that Health Professionals Alliance Inc. will be able to pay dividends in the future or that any market will be established for its securities. Additional risks exist due to operations and liabilities. There is a potential for loss of part or all of investment capital. Neither the SEC nor any federal or state securities commission or regulatory authority has recommended or approved any investment or reviewed the accuracy or completeness of any of the information or materials presented. All investors must make their own determination whether to make any investment, based on their own independent evaluation of the investment and their risk tolerance.
