Highmark is selling its Medicare claims processing business to avoid any conflict-of-interest issues related to its purchase of West Penn Allegheny Health System (WPAHS). Blue Cross Blue Shield of Florida's subsidiary, Diversified Service Options, is buying Highmark Medicare Services (HMS) for an undisclosed sum.
"This change was prompted by Highmark's provider strategy," Highmark Vice President David O'Brien said in a statement. "The decision was a difficult one, but one which best positions HMS to maintain its current business and pursue its government business growth strategy."
HMS processes Medicare claims for the federal government in Pennsylvania, New Jersey, Maryland, Delaware and the District of Columbia. If Highmark didn't sell HMS, it would have owned a hospital that bills Medicare as well as a company that processes those claims, which violates federal requirements, reports the Pittsburgh Business Times.
Although HMS generated about $100 million in revenue, Highmark said selling the company won't impact the insurer's bottom line.
Read the full story at: http://tinyurl.com/7je67gb
To learn more:
Pittsburgh Business Times: http://tinyurl.com/6ql3djo
Pittsburgh Post-Gazette: http://tinyurl.com/7uy8vmd
Source: Fierce Health Payer
Survival, PROs Favor Cemiplimab Plus Chemotherapy vs Chemotherapy Alone in Advanced NSCLC
December 4th 2023For patients with advanced non–small cell lung cancer (NSCLC), regardless of PD-L1 status, cemiplimab plus chemotherapy had favorable survival benefits and patient-reported outcomes over chemotherapy alone.
Read More
SABCS 2023 Sessions Touch on "Every Aspect of Breast Cancer"
December 4th 2023The 46th annual San Antonio Breast Cancer Symposium will take place December 5-9, with new and experienced attendees able to choose and learn from a schedule overflowing with the latest developments in breast cancer science and research.
Read More