Tufts Medical Center To Deny Blue Cross HMO Patients

The Washington Street entrance to Tufts Medica...
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In a move characterized by Massachusetts’ largest insurer, Blue Cross/Blue Shield as a negotiation tactic, Tufts Medical Center announced today that it will no longer accept BCBS HMO patients starting in February.

According to a Boston Globe report, the teaching hospital claims it has lost $25 million over the last 5 years as the result of Blue Cross’ reduced payments.

You may recall that a Boston Globe  report in 2008 revealed that higher reimbursement payments were going to the Partners HealthCare affiliated hospitals.

Partners HealthCare includes Massachusetts General, Brigham & Women’s, and Newton-Wellesley Hospitals.

According to the Wall St. Journal, Blue Cross has increased payments to Partners by 75% since 2000.  Hospital negotiations with insurers commonly are influenced by reputation, quality, and volume.

A state probe into this matter is reportedly underway…

More:

Tufts to Break with Blue Cross/Boston.com

Tufts to Refuse BCBS HMO/NEC

Blue Cross/Blue Shield Company Highlights/BCBSMA.com


BCBSMA Files Third Quarter 2008 Financial Results
Blue Cross Blue Shield of Massachusetts, Inc. (BCBSMA) and Blue Cross Blue Shield of Massachusetts, HMO Blue Inc. (BCBSMA HMO Blue) filed statutory third quarter 2008 financial results, after-tax net income of $57.6 million. This total is comprised of an after-tax net income of $28.3 million for BCBSMA and net income of $29.3 million for BCBSMA HMO Blue.

BCBSMA earned premiums of $546.2 million and incurred $460.6 million in health care claims. BCBSMA experienced $25.7 million operating income and earned $3.5 million in investment income. BCBSMA incurred $3.7 million in federal income taxes for the reporting period.

BCBSMA HMO Blue earned premiums of $1.1 billion and incurred $969.8 million in health care claims. For the reporting period, BCBSMA HMO Blue experienced $29.8 million operating income and a $528 thousand loss in investment income.

– BCBSMA.com

JOHN PRESCOTT

BostonKayakGuy

Top Real Estate Agent for more than 14 years, serving the real estate needs of Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities. www.johnprescott.net

JOHN PRESCOTT

Vice President

Century 21 Commonwealth

508-523-9252

BostonKayakGuy…The MetWest Scene

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