Event Recap: Financial & Economic Insights for Central Oregon Owners of Private Healthcare Practices

Last month, Jones & Roth CPAs and Business Advisors had the pleasure of co-sponsoring an interactive panel event, along with Columbia Healthcare Banking, as part of our Healthcare Private Practice Advisory Series. Held at the beautiful Tetherow Event Pavilion in Bend, Oregon, the panel discussion focused on delivering critical financial and economic insights to provider-owners of medical, dental, and veterinary private practices.

As the current landscape for private practices is constantly shifting, new challenges and opportunities emerge regularly. Recognizing this dynamic environment, we aimed to provide valuable guidance to both new and experienced practice owners. Our interactive panel discussion brought together a wealth of knowledge and experience from local financial and economic experts, who shared their perspectives on navigating these changes, financing growth, and seizing new opportunities.

Meet the Panelists

We were honored to have an esteemed lineup of panelists for this event:

Damon Runberg, State Economist at Business Oregon, provided an in-depth analysis of the economic indicators crucial to Oregon’s workers and businesses. With his extensive experience, including nearly 13 years as the Regional Economist with the Oregon Employment Department, Damon offered valuable insights into the effectiveness of Oregon’s economic development strategies and incentives.

Jordan Dawley, CPA, a Senior Manager at Jones & Roth CPAs & Business Advisors, brought his expertise in practice benchmarking, cash flow planning, business strategy, tax planning, and practice transitions. A Bend native, Jordan is passionate about supporting the local business community and making a positive impact.

Scott Beard, Director at Columbia Healthcare Banking, shared his extensive experience in healthcare lending and banking. With over 25 years in healthcare lending, Scott’s insights were invaluable for practice owners looking to finance growth and navigate the complexities of healthcare banking.

Event Recap

The evening began with Damon Runberg presenting an economic outlook for Central Oregon, with a focus on the health sector.

Runberg began by sharing Central Oregon’s significant growth over the last decade, including remarkable health sector job growth of 50%, overall job growth of 40%, and population growth of 25%, which has made the tri-county area one of the fastest-growing metropolitan areas in the United States.

Ten-year projections showed the region’s population growth rate continuing steadily at 24%, with highest growth concentrations in Bend and Redmond. Demographic trends show the fastest growth in the 75+ age group as today’s boomers move up into the next category, followed by sizeable growth in the 40–54 age group (today’s millennials) and the 20–39 age group. In contrast to regional trends of declining growth, the currently static youth population in Central Oregon is projected to remain steady.

Projections show an overall economic slowdown over the next decade, with health sector job growth of 15% and overall job growth of 11%, which results in a flipped growth rate pattern compared to the last decade. This slowdown, combined with a stagnated youth population and significant challenges in housing affordability and availability, are key challenges that could impact future demand for health services.

Runberg concluded by sharing that Central Oregon is bucking the national and statewide trends in the areas where the region is continuing to see growth, and the demographics are in favor of the health sector. Continued growth of the aging population is expected to increase demand for health services; the continued influx of working-age individuals to the region is expected to bode well for future workforce availability; and the non-discretionary nature of healthcare spending helps to ensure that demand remains steady, even during economic downturns.

A lively Q&A followed the presentation, and the panelists’ diverse backgrounds and deep expertise provided attendees with a well-rounded perspective on the challenges and opportunities facing private practice owners today. 

Watch the Full Presentation

Watch the presentation recording below and reach out to us with any questions or for further support in managing and growing your private practice.

We look forward to continuing our series and bringing you more valuable events in the future. Stay tuned for announcements on upcoming sessions.