The hospitals said they have been negotiating with the two insurers, which are owned by WellPoint, since July, but the health insurers have not provided any contract proposals.
Anthem officials said the managed care contracts would have automatically renewed at the start of the new year, but “because Tenet wanted substantial rate increases, Tenet elected to terminate the contracts,” according to the report.
It has not been determined if the hospitals and insurers will restart contract negotiations before the end of the year.
Related Articles on Hospital-Payor Relationships:
10 Ways for Hospitals and Health Systems to Increase Profitability in 2012
What’s at the Center of the Beaumont-BCBS Contract Dispute?
BCBS of Montana, 5 Hospitals Settle Antitrust Investigation
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
