Ketamine Ventures: The Strictest Corporate Practice of Medicine States
Certain states are better than others when it comes to lucrative ketamine ventures. Whether you’re a physician looking to open a clinic in the space, or if you’re a third party lay person or entity looking to fund or manage such a practice, you need to be on the look-out for states with strict corporate practice of medicine (“CPOM”) regimes that will put a damper on straightforward business relationships between physicians and third parties who are not licensed healthcare providers. Making the top of our strict CPOM list is, in no particular order, New York, Washington State, and Texas. California gets an honorable mention, too. We’ll visit each states’ CPOM limits below.
First, the American Medical Association has a really nice, general summary of what the CPOM represents:
The corporate practice of medicine doctrine prohibits corporations from practicing medicine or employing a physician to provide professional medical services. This doctrine arises from state medical practice acts and is based on a number of public policy concerns, such as (1) allowing corporations to practice medicine or employ physicians will result in the commercialization of the practice of medicine, (2) a corporation’s obligation to its shareholders may not align with a physician’s