Major hospital, insurers combine forces to cut costs
Filed under: Health care/Treatment trends, Healthcare Finance, Hospital Management, In this week's e-newsletter, Insurance, Latest News & Views
A pediatric hospital and four major insurers are co-operating in a unique new initiative to stem the increases in children’s health care costs while improving the quality of care.
Essentially, Children’s Hospital Boston has forged an agreement with Blue Cross-Blue Shield, Harvard Pilgrim Health Care and Tufts Health Plan and the state Medicaid program to limit next year’s fee increases charged to the insurers. The fee increases are expected to be roughly 50%-75% lower, depending on the service and individual insurer contract.
In return, the insurers will use part of their savings to fund new programs at Children’s that improve overall patient care and further reduce long-term costs.
The types of programs Children’s is implementing include:
- providing immediate feedback to doctors on the effectiveness of treatments
- expanding the range of care primary care docs can provide, thus reducing referrals to specialists, and
- developing new payment systems.
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A pediatric hospital and four major insurers are co-operating in a unique new initiative to stem the increases in children’s health care costs while improving the quality of care. Essentially, Children’s Hospital Boston has forged an agreement with Blue Cross-Blue Shield, Harvard Pilgrim Health Care and Tufts Health Plan and [...]
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