Albany, N.Y.-based St. Peter's Health Partners and Albany-based Capital District Physicians' Health Plan verbally resolved disputes threatening to end their contract, reports Times Union.
Although financial details are not finalized, the organizations say they expect to come to an agreement smoothly. A contract is projected to be inked in the next couple of weeks, St. Peter's spokesperson Elmer Streeter said in a statement to Times Union.
On a website previously publicizing CDPHP's stance on the dispute, CDPHP president and CEO John Bennett said, "I am pleased to announce that we have reached an agreement with St. Peter's Health Partners and its parent company, Trinity Health of Livonia, Mich., guaranteeing our members continued access to care at SPHP facilities."
The new contract would be effective Jan. 1. If their contract were to falter, CDPHP would no longer network with St. Peter's five hospitals, 350 physicians and other services, while St. Peter's would lose 448,000 CDPHP policyholders.
Earlier this month, St. Peter's and CDPHP launched opposing websites to reveal their contract spat. St. Peter's website suggested patients switch insurers, while CDPHP's countered that assertion by accusing St. Peter's of charging more to assist Trinity through financial hardship.