Integrated Healthcare Inc. (IHC) is an organization of local physicians that was started in 1994. IHC, together with Centra Health, formed Piedmont Community Health Plan in 1995 to offer a locally owned network option to employers in the community and surrounding areas. Physicians who participate in the Piedmont Community Health Plan network in the Lynchburg area continue to own IHC. Each physician owner has one voting share of IHC stock and a great majority of physicians also own two additional non-voting shares of IHC stock.
Active physicians in the Lynchburg area who participate in Piedmont Community Health Plan’s network are currently required to purchase a share of IHC stock. However, these physicians may purchase up to two additional non-voting shares of IHC stock if they wish to invest in Lynchburg’s own managed care organization. Physicians may take up to one year to pay for the purchased IHC share(s). Repurchase of these share(s) by IHC is determined by the shareholder agreement.
Over time the IHC share price has increased from its original $2,800 per share cost to well over three times that amount. The share amount is determined by Piedmont Community Health Plan’s results. Piedmont has been very successful for much of its existence, thus increasing assets through earnings.
The IHC organization is not only half owner of Piedmont but is also a venue for physicians to come together for joint purchasing of services and supplies and to share common practices and a voice in the community.
Piedmont conducts the administration for IHC. If you have questions or need information please contact Piedmont’s Medical Management Department at 434-947-4463.