Idaho State University Considers Acquiring Private Medical College to Tackle Doctor Shortage

Idaho State University is increasingly exploring the possibility of purchasing the Idaho College of Osteopathic Medicine (ICOM) in Meridian, a move that could significantly impact the state's ongoing healthcare workforce crisis. To assess the feasibility and potential benefits of such an acquisition, the university has allocated $100,000 for a comprehensive study conducted by the consulting firm Tripp Umbach. This initiative aligns with Idaho's broader efforts to address its alarming shortage of physicians, particularly in rural areas, where the number of active doctors per capita ranks lowest nationwide.

Established in 2016 through a partnership with Rice University and private equity firm TPG, ICOM quickly gained accreditation, graduating nearly 600 students with a 100% residency placement rate. The college has expanded its class sizes and increased its reputation, making it a promising candidate for acquisition. ICOM is profitable, with tuition set just under $65,000 annually, and has a growing number of students, including around 35 Idahoans each year.

The potential purchase is part of Idaho's larger strategy to boost its medical training capacity. Currently, Idaho ranks last in the nation for physicians per capita, with projections indicating a shortfall of over 1,700 doctors by 2030. To alleviate this, the state has enacted laws to create 30 additional publicly supported medical school seats in the next three years, with some funding funneled through programs like WWAMI.

Although there are no active negotiations between ISU and ICOM, discussions about a sale have gained momentum following ICOM's owners’ plans to divest. Rice University has been the school's primary investor, but its interest in stepping back has increased the likelihood of a sale, possibly to ISU. The university's leadership, including President Robert Wagner and Vice President Rex Force, are aware of the situation and are examining the strategic benefits of acquiring the college.

The proposed acquisition is seen as a way to strengthen Idaho's health education infrastructure by integrating various health profession programs under one umbrella, potentially expanding residency opportunities and improving healthcare access across the state. This development is especially significant as Idaho aims to improve physicians' retention in rural areas by increasing local training opportunities and addressing the limited number of residencies.

While the valuation and specific details are still under review, the move reflects Idaho's proactive approach to solving its critical physician shortage. The outcome of this study and negotiations could shape the future of medical education and healthcare delivery in Idaho, ensuring the state is better equipped to meet its residents' medical needs.