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N.J. Blue plan files to go for-profit

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Banking and Insurance Department
New Jersey
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pay for performance
Horizon Blue Cross And Blue Shield
health information technology
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New Jersey's Horizon Blue Cross and Blue Shield has filed with the state to convert from not-for-profit to for-profit status, in what it says is a bid to boost its financial options. In its filing with the state's attorney general and Banking and Insurance Department, the health plan said that switching will give it more financial flexibility. In particular, it expects to gain greater access to capital for investment in information technology, pay-for-performance initiatives and business operations. These investments would exceed the plan's annual $35 million by a projected $20 million to $30 million per year during the next five years. The plan has already set aside $500,000 to help hospitals in its network bring up medical history technology.

To learn more about the planned switch:
- read this Modern Healthcare piece (reg. req.)

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Comments

Two MAJOR concerns...
Hopitals will continue to struggle due to Horizon underpayment while the big monopoly and their already overpaid executives cash in.
The fundamentally corrupt NJ political infrastructure will be wooed and probably cash in as well, with another promised bailout of uncompensated and charity care which will disapate quickly.
Another failed attempted quick fix with the already overburdeoned taxpayers paying the freight...Good luck NJ

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