Portland-based CareOregon has hired McKinsey & Co. as the nonprofit insurer navigates financial challenges, Willamette Week reported Sept. 3.
CareOregon laid off 80 employees and canceled 70 empty roles in July.
In a statement shared with Becker’s, CareOregon cited rising healthcare costs, as well as recent federal legislation as headwinds for the nonprofit.
“Healthcare costs are rising dramatically at a time when the federal government is slashing funding for Medicaid,” the spokesperson said. “Like other health plans and insurers, we seek advice from a variety of outside consultants and firms who are able to offer advanced analytics, data on national trends and other insights.”
CareOregon did not address specifics on the consulting firm’s fees or the nature of services to be provided, according to the report.
