As the health reform law continues to transform insurers into more efficient companies, one insurer has stood out among the pack, taking multiple steps to prepare for success in the post-reform market.
In the last year and a half, Florida Blue, a nonprofit Blue Cross Blue Shield plan, has expanded its Medicare and Medicaid operations, reached new agreements with providers, bought a provider group and decided to sell policies through a new private health insurance exchange, reported The New York Times.
A key aspect of its position in the post-reform market, according to Florida Blue CEO Patrick Geraghty, is for the insurer to focus on its core business rather than expand or diversify the company. That's why Florida Blue moved fast to set up retail stores, opening its first in 2006. Florida Blue has now allocated millions of dollars into 11 retail stores located throughout the state, FierceHealthPayer previously reported.
It also has partnered with AmeriHealth Mercy to invest in a provider network focusing on low-income consumers. The two companies are hoping the network will help them win a contract to administer Medicaid for some of Florida's beneficiaries.
Another aspect of Florida Blue's reform law prep has been testing various care models, including accountable care organizations and patient-centered medical homes. Its medical home program has already drawn almost 2,400 doctors to make it one of the largest in the country. Meanwhile, Florida Blue is working with the Moffitt Cancer Center in Tampa to establish an ACO, FierceHealthcare previously reported.
To learn more:
- read the New York Times article