Warren’s physician bill says it targets Wall Street. The operative language hits any non-licensee controlling a medical practice. Those are not the same list.
The friendly physician corporation structure is dumber than you think. One management services agreement plus one stock transfer restriction equals functional ownership with zero technical ownership.
Every major physician platform files SEC statements asserting the management company controls and absorbs the economics of the practice. The same companies’ legal opinions say the opposite. Both cannot be true.
Oregon moved first. The 2029 compliance deadline is the real signal - watch whether a sell-side pipeline materializes for Oregon assets in 2028, or doesn’t.
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