Under a settlement with Reno, Nev.-based Renown Health, 12 cardiologists will receive a combined $4.2 million today and the option to leave Renown for another hospital or clinic without facing penalties, according to a Reno Gazette-Journal report.
The settlement stems from a Federal Trade Commission ruling in December, in which the agency said Renown's non-compete clauses with cardiologists led the system to have a monopoly-like hold on heart care in the Reno-Sparks area. The FTC forced Renown to release the 12 cardiologists from the non-compete clauses.
The settlement includes Renown's agreement to cover the cardiologists' $827,000 in legal fees. Renown officials also agreed to conduct an investigation of its management team, according to the report.
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The settlement stems from a Federal Trade Commission ruling in December, in which the agency said Renown's non-compete clauses with cardiologists led the system to have a monopoly-like hold on heart care in the Reno-Sparks area. The FTC forced Renown to release the 12 cardiologists from the non-compete clauses.
The settlement includes Renown's agreement to cover the cardiologists' $827,000 in legal fees. Renown officials also agreed to conduct an investigation of its management team, according to the report.
More Articles on Renown and the FTC:
Renown Regional in Nevada Releases 10 Cardiologists From Non-Competes Under FTC SettlementNon-Compete Agreements Among Healthcare Providers: 6 Trends
Renown Health Settles With Nevada AG on Cardiology Practice Acquisitions