Terms of the agreement were not disclosed, according to the report. Earlier this year, BlueCross issued a termination notice to the hospitals — which are both owned by Dallas-based Tenet Healthcare Corp. — that would have made the facilities out-of-network for the insurer’s customers if a new contract was not negotiated by Nov. 30. The hospitals and the insurer struck a deal the day before Thanksgiving, according to the report.
Previously, BlueCross issued a statement claiming the hospitals had aggressively pursued higher rates. In response, Saint Francis said it was asking for rate adjustments in line with market prices and accused the insurer of asking for significant rate reductions while increasing premiums, according to the report.
More Articles on Hospital-Payer Issues:
Narrow Network Health Plans Face Backlash From State Officials
St. Luke’s to Leave Humana’s Medicare Advantage Network
Hospitals as Health Insurers: Should Your System Launch an Insurance Product?
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.