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Insurer's Use Of Not-for-Profit Assets Questioned

MANAGED CARE April 1998. © MediMedia USA
News and Commentary

Insurer's Use Of Not-for-Profit Assets Questioned

MANAGED CARE April 1998. ©1998 Stezzi Communications

Health care consumer groups are taking a dim view of an Independence Blue Cross subsidiary's planned purchase of two small health networks in Florida and Texas. Specifically, the groups want to know how the not-for-profit, Philadelphia-based insurer can shift revenue it collects as a tax-exempt Pennsylvania entity to its for-profit HMO, AmeriHealth, for purposes of out-of-state acquisitions.

The Pennsylvania attorney general's office says it is monitoring the transaction to ensure that charitable assets are being used properly. Independence, which expects to complete both deals later this year, responds that any revenue growth derived from ownership of out-of-state networks enhances its ability to carry out its social mission back home.

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4th Partnering With ACOs Summit Los Angeles, CA October 27–28, 2014
PCMH & Shared Savings ACO Leadership Summit Nashville, TN November 3–4, 2014
2014 Annual HEDIS® and Star Ratings Symposium Nashville, TN November 3–4, 2014
Medicare Risk Adjustment, Revenue Management, & Star Ratings Fort Lauderdale, FL November 12–14, 2014
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Healthcare Chief Medical Officer Forum Alexandria, VA November 13–14, 2014
Home Care Leadership Summit Atlanta, GA November 17–18, 2014
HealthIMPACT Southeast Tampa, FL January 23, 2015