Louisville City Wire

Mayor Craig Greenberg today highlighted the new healthcare startup PC3 Health, which is growing its Louisville operations with a $2.5 million investment and the creation of 21 new high-wage jobs.

“By fostering homegrown startups, Louisville will continue to attract skilled talent and build our economy in forward-thinking ways. By championing healthcare startups, in particular, Louisville continues to cement its position as a national leader in health and aging innovation. That is why support for entrepreneurs is a key pillar of our bold new economic development strategic plan, Growing Louisville Together, and why we are happy to join the state in supporting PC3 Health’s expansion,” said Mayor Greenberg.

PC3 Health, or Physician Care Coordination Consultants LLC, is an innovative provider-owned company that excels in utilization and case management services for hospitals, helping to decrease observation and claim denial rates and increase hospitals’ financial performance. The fast growth startup will locate its headquarters in a 7,500-square-foot office space in Jeffersontown. The move is expected to be completed by June 2024.

“We are excited to be a part of the Commonwealth’s economic development plan. It is our mission to provide strategic guidance and clinical expertise to healthcare organizations to navigate the complexities of payor relationships, utilization, and case management. We have provided exceptional value to our current hospital partners and patients while focusing on cultivating new partner engagements. Further, we aim to create a workplace that promotes work-life balance, celebrates community engagement, and personal achievements,” said Karan Shah, MD, Managing Partner.

Kentucky Gov. Andy Beshear said the creation and growth of companies like PC3 Health speak to the strength of Louisville’s healthcare industry.

“Louisville has become a hub for healthcare providers and supporting companies, thanks in part to companies like PC3 Health, who choose to grow and expand their business here,” said Gov. Beshear. “I want to note how many new healthcare jobs this project is bringing to the region and congratulate PC3 Health and Louisville on this fantastic expansion.”

In 2023, Mayor Greenberg reported strong economic momentum across the city of Louisville with 59 projects located, representing just over $1 billion in new investment and 2,302 new jobs. Site Selection Magazine named Louisville a Top 5 U.S. Metro for Economic Development and recognized Louisville Metro's Department of Economic Development a 'Top Economic Development Group' for the ninth year in a row.

The Mayor also released Growing Louisville Together, a new economic development strategic plan that will take Louisville in a new direction through transformational, equitable, and sustainable change. The plan is built upon four prominent themes:

1. Investing in quality of place
2. Investing in people — education & skills enhancement
3. Improving entrepreneurial development & access to capital
4. Telling Louisville’s story to attract and retain people & businesses

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $750,000 in tax incentives based on the company’s investment of $2.5 million and annual targets of:

• Creation and maintenance of 21 Kentucky-resident, full-time jobs across 10 years; and
• Paying an average hourly wage of $108.77 including benefits across those jobs.

For more information on PC3 Health, visit pc3health.com.

For more information about Louisville’s economic development work and business support services, visit Louisvilleky.gov/economicdevelopment or follow us on Twitter and Instagram @econdevlou, at facebook.com/LouisvilleCED, and on LinkedIn.

Original source can be found here.