Wyoming CPOM laws for healthcare startups
Wyoming has no standalone corporate practice ban and no medical-corporation registration chapter. Its four-section professional corporation law and the Medical Practice Act still decide who can own the practice and who can treat Wyoming patients.
Get a Free CPOM AssessmentThe law in Wyoming
Key authorities (official text)
W.S. 17-3-101 to 17-3-104 · W.S. 33-26-102(a)(xi) · 33-26-301 · 33-26-402(a)(ix) · 33-26-410Title 17 PDF (chapter 3, Practice of Professions by Corporations) · Title 33 PDF (chapter 26, Medical Practice Act) · Wyoming Board of Medicine.
Wyoming CPOM is Limited on Foundry's guide. Wyoming has no California-style standalone ban and no separate medical-corporation registration chapter like South Dakota or West Virginia. Title 17, chapter 3, Practice of Professions by Corporations, is four sections long. W.S. 17-3-101 lets a corporation whose capital stock is owned exclusively by people licensed by Wyoming to practice a profession practice that profession through its licensed stockholders or licensed employees. W.S. 17-3-102 says no corporation may offer professional services or practice a profession except through licensed stockholders or licensed employees, each of whom stays fully responsible as though practicing individually. W.S. 17-3-104 requires the articles to state that all shareholders are, and will continually be, licensed in the profession. Cheyenne and Casper diligence still wants a physician-owned PC plus a fair-market-value MSA.
Limited describes the statute count, not the diligence file. The professional corporation chapter is short, but it is exclusive in the sentences that matter: stock owned exclusively by licensees, practice only through licensed people, and articles that promise all shareholders will continually be licensed. W.S. 17-3-103 requires the name to end with "A Professional Corporation" or "P.C." W.S. 17-17-102(b) lets a professional corporation also use the Wyoming Statutory Close Corporation Supplement when its articles carry the required close-corporation statement, except where chapter 3 says otherwise. None of those sections opens the PC's cap table to an MSO or an investor.
The Medical Practice Act is where most of the operator risk sits. W.S. 33-26-102(a)(xi) defines practicing medicine to include any person who in any manner advertises, holds out, or represents to the public that he is authorized to practice medicine in Wyoming; offers or undertakes to prevent, diagnose, correct, or treat any human disease or condition by any means; offers or undertakes to prescribe, order, give, or administer prescription drugs; or renders a determination of medical necessity or appropriateness of proposed treatment. W.S. 33-26-102(a)(xxix) defines telemedicine as the practice of medicine by electronic communication from a physician in one location to a patient in another. A brand that sells the visit and the prescription under its own name is the fact pattern buyers test against that definition.
W.S. 33-26-301(a) says no person shall practice medicine in Wyoming without a license granted by the board, or as otherwise provided by law. W.S. 33-26-402(a)(ix) makes aiding or abetting the practice of medicine by a person the board has not licensed a ground for discipline of the physician. W.S. 33-26-410(a) makes practicing medicine, or aiding and abetting another in practicing medicine, without a license a misdemeanor, and W.S. 33-26-410(c) lets the attorney general, the board, a county or district attorney, or any citizen seek an injunction on proof of one or more acts of unlicensed practice, without proof of actual damage. For a physician, the aiding-and-abetting ground is the reason to own the practice, not lend a name to a lay company.
Wyoming enacted the Interstate Medical Licensure Compact at W.S. 33-26-701 et seq. The compact is a faster way for an eligible physician to get a Wyoming license. It does not change who may own a Wyoming professional corporation, and it does not let a clinician skip the Wyoming license.
A Wyoming charter is not a CPOM passport. If you treat Colorado, Utah, Idaho, Montana, South Dakota, or Nebraska patients, those states control. Utah patients need a domestic Utah professional entity under Utah Code § 16-11-7. See Utah CPOM. Collaboration for PAs and NPs is a different job from owning the Professional Corporation. See collaborating physician vs physician PC owner.
Typical PC / MSO structure in Wyoming
When Wyoming patients or a Wyoming clinical entity are in scope, form a professional corporation under W.S. 17-3-101 whose stock is owned by a physician licensed in Wyoming, with the W.S. 17-3-104 statement in the articles. The MSO provides non-clinical services under a written MSA at fair market value. Clinical revenue lands in the PC. Clinicians who treat Wyoming patients hold Wyoming licenses. Foundry forms that structure ($15,000) and matches a friendly PC owner ($3,000/mo). Not a rented Super PC.
When you still need a PC vs only an MSO
Use the table as an operator rule, not a filing opinion. Confirm with counsel.
| Wyoming fact pattern | Typical entity | Why |
|---|---|---|
| Wyoming-only, cash-pay, physician already owns the practice | May stay on the existing professional corporation | Still document clinical control and an FMV admin fee if an MSO is in the picture |
| Venture-backed or multi-state telehealth that includes Cheyenne, Casper, Laramie, or Gillette patients | Professional corporation + FMV MSA, with Wyoming licenses for the clinicians who see those patients | Buyers and payers test CPOM compliance the same way they do in stricter states |
| Lay brand that advertises and sells the visit | Physician-owned PC holds the practice; brand licenses to the MSO | W.S. 33-26-102(a)(xi) reaches holding out and offering to treat |
| Wyoming HQ with patients only in other states | Form for the patient states; a Wyoming HQ alone is not enough | CPOM follows the patient, not the HQ charter |
| Wyoming plus Colorado, Utah, or Idaho | Form for each neighboring state you treat | A Limited label in Wyoming does not soften another state's rules. Utah needs a domestic entity |
Fee-splitting and funds-flow risk
With a short corporate statute, buyers lean harder on the money trail. A percentage-of-collections management fee is the pattern that looks most like a split of professional fees and like lay control. Prefer a fixed or FMV-supported admin fee. Clinical cash lands in the PC. The MSO invoices the PC. Pair Wyoming with the fee-risk table on CPOM compliance.
| Wyoming pattern | Risk | Safer pattern |
|---|---|---|
| Lay LLC holds itself out as practicing medicine | High: W.S. 33-26-102(a)(xi), 33-26-301, and 33-26-410 | Licensed-physician ownership of the professional corporation |
| Physician lends a name to a lay company's clinic | High for the physician: W.S. 33-26-402(a)(ix) aiding and abetting | Physician owns the PC and holds clinical control |
| MSO paid a percentage of professional collections | High: diligence and fee-split overlay | Fixed FMV admin fee with a memo |
| Lay shares or options in the PC | High: W.S. 17-3-101 requires exclusive licensee ownership | Licensed physician shareholder; stock transfer restriction |
| Physician PC + FMV MSA + separate books | Base case | Revisit FMV when volume changes |
Board vs buyer / payer checks
Licensing boards discipline licensees. Buyers and payers run a different file. Use both columns. Full operating map: CPOM compliance.
| Who checks | What they sample | Wyoming fail signal |
|---|---|---|
| Wyoming Board of Medicine | Active Wyoming license for each clinician; who holds out and who treats | Telemedicine to Wyoming patients without a Wyoming license; a physician lending a name to a lay clinic |
| Buyer diligence | Articles vs W.S. 17-3-104; shareholder ledger vs W.S. 17-3-101; one claim from payer to PC bank to MSA invoice | Missing articles statement; lay shares; MSO lockbox; percentage MSA |
| Payer / credentialing | Claim TIN and group NPI on the physician-owned PC | Marketing MSO TIN on the claim |
What Wyoming founders need to know
- Wyoming is Limited, but a professional corporation's stock must be owned exclusively by licensees.
- The articles must state that all shareholders are, and will continually be, licensed.
- The Medical Practice Act defines practicing medicine to include holding out, offering to treat, and prescribing.
- Aiding and abetting unlicensed practice is a discipline ground for the physician and a misdemeanor.
- A Wyoming charter is not a CPOM passport for Colorado, Utah, Idaho, Montana, or South Dakota.
- Foundry does not drop clients into a plug-in 50-state PC. Multi-state needs a 50-state licensed physician as owner of your PC.
Operational checklist: CPOM compliance. Setup path: MSO-PC formation ($15,000). Full map: CPOM 50-state guide. Book a call · Pricing.
Sources
- Wyoming Statutes Title 17, chapter 3, Practice of Professions by Corporations, W.S. 17-3-101 through 17-3-104, and W.S. 17-17-102. Reviewed 19 October 2026.
- Wyoming Statutes Title 33, chapter 26, Medical Practice Act, including W.S. 33-26-102(a)(xi) and (xxix), 33-26-301, 33-26-402(a)(ix), 33-26-410, and 33-26-701 et seq. (Interstate Medical Licensure Compact).
- Wyoming Board of Medicine.
Wyoming CPOM FAQ
Does Wyoming have CPOM?
Wyoming is Limited on the CPOM 50-state guide. There is no standalone ban, but W.S. 17-3-101 through 17-3-104 limit professional corporation stock to licensees, and W.S. 33-26-301 requires a Wyoming license to practice medicine.
Do I still need an MSO-PC in Wyoming?
Yes for most venture-backed and multi-state models that treat Wyoming patients. The PC holds clinical care and the claim TIN; the MSO is paid fair market value for non-clinical services.
Can a non-physician own part of a Wyoming medical PC?
Not under W.S. 17-3-101, which requires stock owned exclusively by licensees. The articles must say all shareholders are and will continually be licensed. Confirm with counsel.
Does the Interstate Medical Licensure Compact replace a Wyoming license?
No. The compact (W.S. 33-26-701 et seq.) is a faster route to a Wyoming license. It does not change who may own the PC.
How does Foundry help with Wyoming CPOM?
MSO-PC formation is $15,000 one-time. A licensed physician PC owner is $3,000/mo. Foundry is not a law firm.