With Illinois' Medicaid managed care revamp set to kick off Jan. 1, several insurers are not disclosing reimbursement rates publicly, Crain's Chicago Business reports.
Here are four takeaways about the reimbursement rates.
1. Four insurers — Harmony, IlliniCare, NextLevel Health and Meridian — requested their reimbursement rates be kept concealed. Crain's Chicago Business obtained Illinois' managed Medicaid contracts through the Freedom of Information Act, in which the rates of the four insurers were redacted by the Illinois Department of Healthcare and Family Services.
2. While some lawmakers expressed concern the reimbursement rates may be insufficient and result in financial losses, some insurers said disclosing rates would unveil competitive information.
3. Three insurers allowed their rates to be released: Blue Cross and Blue Shield of Illinois, CountyCare and Molina Healthcare, Crain's Chicago Business reports.
4. The state expects to save about $1 billion during four years under the new program.
For the full Crain's Chicago Business report, click here.
More articles on healthcare finance:
Not your grandfather’s CFO — 5 must-have skills to lead operational transformation and how to gain them
65 RCM tips from 2017
Recondo Technology names CFO: 3 things to know