All of Oregon’s 16 community care organizations were profitable in the first nine months of 2015, according to internal financial statements published Friday by the Oregon Health Authority. And several CCOs have strong cash reserves.
These nonprofit and for-profit entities, born out of the Affordable Care Act to provide health access by expanding Medicaid, grew financially stronger in the first three quarters of 2015.
At the end of last year, several of these organizations reported such limited cash on hand that they might not be able to last more than a few days in a crisis – Columbia Pacific CCO and Health Share of Oregon. The latest reports show that they’ve made strides to bolster their cash reserves.
In fact, at the end of September, Health Share reported one of the highest net incomes, or profits, of Oregon CCOs, with Intercommunity Health Network also ranking near the top.
Health Share is a nonprofit founded by Adventist Health, CareOregon, Central City Concern, Legacy Health, Providence Health & Services, Tuality Health Care, Oregon Health & Sciences University and Multnomah, Clackamas and Washington counties. The largest CCO in the state, it serves the Medicaid population in those three Portland-area counties, and had 237,039 members as of December 15.
Intercommunity Health Network, meanwhile, is run out of Samaritan Health Services in Corvallis and serves about 60,000 members in Benton, Lincoln and Linn counties.
Click here for an in-depth examination of the state’s 16 CCOs, including details about ownership and governance, and membership numbers, and health spending per member.
-- Courtney Sherwood can be reached at [email protected]. Follow her on Twitter at@csherwood.
